DFS has announced a revenue rise of 47.4 per cent in its preliminary results for the 52 weeks to 27 June 2021. Total group revenue has exceeded £1bn for the first time, as compared with £724m in 2020, with underlying profit before tax and brand amortisation up to £105.8m, compared to FY20’s loss of £63.1m.
The company benefited from a 184.3 per cent rise in its YOY online revenues and noted strong growth in new orders which is says was derived from pent-up demand as well as increased consumer spending on the home.
Tim Stacey, group chief executive officer, said: “Our record profits delivery in the last financial year is a fitting tribute to all the hard work of our colleagues and testament to the resilience and flexibility of our integrated business model. Despite numerous operational challenges during the pandemic, I’m proud we have remained focused on our strategic agenda to lead sofa retailing in the digital age and are on track to achieve the incremental £40m of profit benefits set out in 2018. We also see further growth opportunities into the medium term derived from extending the reach of our retail brands and optimising our operating platforms.
“As we enter a new financial year, the Group is very well positioned to build on its market leadership position in sofa retailing and to target further growth as we invest to strengthen our business platforms and extend our retail proposition into adjacent product categories.”
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