DFS ups profit forecast as Schmidt looks for a bargain

DFS has upped its profit forecast as its cfo says he’s moving to discount chain B&M.

Three weeks ago the group forecast profits of £57m-£62m. Now it says profits will be in the upper half of this following deliveries before the financial year end.

Meanwhile Mike Schmidt has announced he is leaving to move to B&M, after eight years at the group and three as cfo.

‘I am very proud of the business DFS has become. In stepping down after eight years with the company, I know DFS is in a strong position. It is the right time for me to pursue a new challenge,’ he says.

‘I would like to thank Mike for his leadership as cfo. He has helped to navigate DFS through a period of significant challenge, including the impact of Covid-19, and leaves a resilient business well placed to grow in the UK,’ says Ian Durant, DFS chair.

DFS manufacturing upholstery


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