Record turnover for Dunelm – but profits tumble

Bosses at Leicester-based homewares giant Dunelm say they are confident of future growth – despite a fall in full-year profits.

Dunelm saw record revenues of almost £1.64bn over the period, but profits fell by nearly 8% to £192.7m.

The retailer will pay an ordinary dividend of 27p per share (FY22: 26p) taking the full year ordinary dividend to 42p per share (FY22: 40p), an increase of 5%.

Despite “unpredictable” consumer behaviour, Dunelm says it is “pleased” with early trading in its new financial year.

Nick Wilkinson, chief executive officer, said: “In a period of extensive economic uncertainty, we have maintained our focus on enhancing our customer proposition, expanding our offer whilst staying fully committed to value and making every pound count. This has clearly resonated well with our customers, enabling us to continue growing both sales and market share. As ever, our amazing colleagues have been at the heart of this performance and I thank them all for their knowledge, personality, commitment and enthusiasm.

“As we manage the ongoing challenges, it is crucial that we do not lose sight of our longer-term ambitions. We are committed to raising the bar on value and joy for our customers and continuing to invest where we see good returns, so that we can seize the various opportunities ahead.

“We are excited about our future growth opportunity and more confident than ever that our commitment to value and tireless focus on improving the experience for our home-loving customers will leave us well placed to deliver sustainable growth in the future.”