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Dunelm raises profit forecast again

DunelmAW19Dunelm has raised its full-year profit forecast for the second time since April on the back of strong sales in May and June.

In April it said profits would be higher than analysts’ forecasts of £115m-£118.5m: now it sales profits will be between £124m and £126m for the year to 29 June.

‘Dunelm has continued to see strong trading across its business and therefore expects the outturn to be ahead of the board's previous expectations. Since we last updated on 10 April, we have seen very good year-on-year total like for like growth, particularly in May and June, reflecting both the soft comparator period (Q4 2018 total LFL growth of 0.1%) and the unseasonably favourable weather conditions this year,’ it says.

‘As a result, the board currently expects profit before tax for the year to be in the range of £124m-£126m.’