DFS has reported a drop in half year revenue for the period to 29th December. It says that challenging market conditions and political uncertainty were behind the drop of 5.7 per cent to £488 million. It did, however, add that it had converted a higher percentage of customers than in the prior year and had grown its online revenues, with the latter up by 4.5 per cent year-on-year. The business had also made investments in customer service and delivery in addition to creating new showrooms for Sofology.
“Despite the challenging retail environment, and excluding some isolated systems disruption in Sofa Workshop, our performance over the first half has been as expected, given the exceptional prior year comparative driven by latent demand. In particular, we have seen a good performance by the DFS brand in driving conversion and margins and continued online sales growth,” Adding: “Notwithstanding the uncertain short-term outlook, we remain confident in the group’s financial strength and relative track record of performance in all environments. Furthermore, we believe our market leading position will allow us to drive long term attractive value creation for our shareholders.”
Share