Sofa retailer, DFS Furniture, has hailed an excellent year with profits set to soar on the back of bumper sales and tight cost controls.<\/p>\n
It will be a return to the black for DFS which, in 2024, slumped to a loss of \u00a31.7m in an \u2018extremely challenging year\u2019 with the retailer hit by record low demand and shipping distribution in the Red Sea.<\/p>\n
DFS shares were up 6% to 175.19p in early trading – a 12 month high after they slumped to a low of 113p.<\/span><\/p>\n The Doncaster-based company said pre-tax profits for the year to 29 June will come in at around \u00a325m to \u00a329m \u2013 beating market expectations of \u00a323m.<\/p>\n DFS said orders are up 10% year-on-year, with both its retail brands – Sofology and DFS – performing well.<\/p>\n Net bank debt reduced to around \u00a3107m from \u00a3165m.<\/p>\n Group chief executive, Tim Stacey, said: \u201cWe are pleased to report that we expect profit for the full year to be slightly above the top end of our guidance. Our excellent first half performance set the foundation for our success, with strong trading through the rest of the year with both our DFS and Sofology brands outperforming the market.<\/p>\n \u201cWe have continued to maintain a strong focus on disciplined cost management and improved our gross margins, leading to significant year on year profit growth. In addition, cash flow was healthy, and our balance sheet is strengthening as we progress towards our target leverage range.<\/p>\n \u201cWhilst the macro environment remains challenging our business is in great shape and I would like to thank our amazing colleagues for their support and commitment as we relentlessly focus on delivering against our strategy together. Looking forward, we are confident that the Group is well positioned to drive attractive returns for shareholders as the market recovers and we remain focused on delivering our medium-term ambition of \u00a31.4bn revenue and 8% profit before tax margins.\u201d<\/p>\n The group will announce its full year results for the period ending 29 June 2025 on 25 September 2025.<\/p>\n","protected":false},"excerpt":{"rendered":" DFS said pre-tax profits for the year will come in at around \u00a325m to \u00a329m \u2013 beating market expectations of \u00a323m<\/p>\n","protected":false},"author":271992,"featured_media":2088432,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53262],"coauthors":[137100],"class_list":["post-2141494","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","tag-top-story","tag-yorkshire"],"yoast_head":"\n