Profits boom at Dunelm

Profits at Leicester-based homewares giant Dunelm have risen by over 23% for the year ending 30 June.

The firm this morning (4 September) posted profit before tax of £125.9m – up 23.4% on last year.

Revenue also rose by 4.8% to £1.1bn.

Nick Wilkinson, chief executive, said: “As Dunelm celebrates its 40th anniversary, we are pleased to have delivered a strong performance during the year, with an improvement across all our customer, operating and financial metrics. In particular, the strong like-for-like revenue growth, both in stores and online, demonstrates the progress we are making with our multichannel proposition whilst maintaining the breadth and depth of our specialist customer offer in homewares.

“These results reflect our focus on the core Dunelm business and we see further opportunities to develop our Customer 1st plans, through extending product choice and value, improving our customer experience enabled by technology, and bringing more people to the brand.

“Recent trading performance has continued to be strong, reflecting both weak comparatives in the prior year and continued market share growth. However, we remain cautious about the full year outlook due to increased Brexit uncertainty and specifically the impact it may have on consumer spending as we enter our peak period.

“Looking to the future, I am excited about the opportunity to grow our business as we enhance and extend our specialist and multichannel offer, build on our market leading position and fulfil our purpose of helping everyone create a home they love.”