DFS has struck an upbeat note, with increased orders seeing an upgrade in expected profits.
The group says that trading in the first 10 weeks of the second half ‘has remained strong’, with orders increasing from the 10% rise seen in the first half to 11%.
As a result it now expects underlying profit before tax and brand amortisation of between £25m and £29m.
‘Our improved profit performance in the first half is testament to the strength of our customer proposition, the dedication of our colleagues and our collective focus on operational excellence, evidenced through increased market shares and customer satisfaction scores. We are on track to deliver full year profit performance ahead of market expectations and our confidence in the group’s capabilities and future potential has never been higher. Given our strong market position and relentless focus on executing our strategy, we are confident that we will achieve our £1.4bn full year revenue and 8% PBT targets in the medium term and deliver strong returns for our shareholders,’ says Tim Stacey, DFS Group ceo.
