Share prices soar at East Midlands retail giants

The share price at two East Midlands retail giants rose sharply on Thursday (July 18) after both posted upbeat annual results.

At close of trading on Thursday, Dunelm’s shares were changing hands for £12 each, up 8.5% on their opening price and the highest this year, while Frasers Group’s stocks were also riding high – up 7.5% at £8.83.

Earlier on Thursday morning, Shirebrook-based Frasers said its profits had risen sharply – up 13.1% to £544.8m – for the year to April 28, after the company continued the successful roll-out of its “elevation strategy”.

Meanwhile, Dunelm reported that it expected profits to come in slightly ahead of expectations for the year to June 29 after posting a strong final quarter.

Sales rose by 5% in the firm’s fourth quarter, with Dunelm ending the year with total sales of just over £1.7bn. Profits are expected to come in at around the £200m mark.