DFS suffers profit drop

DFS suffers profit drop

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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