Furniture retailer DFS has released its interim results for the 26 week period to 25th Deember 2022. Its profit before tax had fallen to £7.1m which equates to 1.3 per cent of its revenues which had fallen by 2.2 per cent year on year, to £544.5m.
Tim Stacey DFS Group CEO said: “I’m pleased to report that the group has extended its long track record of achieving market share gains in a challenging market to what are now record levels. We expect our profit for the year to be between £30-35m in line with external expectations.
“Profit margins have reduced over the last year due to a combination of significant cost increases and our commercial strategy to ensure that we continued to offer great value for customers in an environment where consumer discretionary spend was under pressure.”
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