PBT increased 94% in another record year for furniture retailer
Companies: DFS Furniture PLC
The UK's largest furniture retailer DFS Furniture plc (LSE: DFS) has reported another set of record preliminary results this morning for the 52 week period ending 30 July.
With Gross sales increasing 7.4% to £980m, the company's revenue increased 7% to £756m, underlying EBITDA increased 5.8% to £94.4m, and profit before tax nearly doubled to £64.5m (+94%).
The results were another record for the Doncaster-based firm, who increased its adj EPS to 23.7p (8.3% yield) and raised its final dividend 18.3% to 7.5p.
DFS Chairman Richard Baker said the tried and tested DFS growth strategy had delivered another set of record results and put the firm in an excellent position to generate further shareholder value:
"Our unique and flexible business model, the quality and commitment of our people, our family culture and our focus on customer satisfaction remain the key factors behind our continuing success."
Operationally, the company opened three new large DFS stores in the UK and Ireland and two smaller stores, Bromley and Crawley. Overseas, the firm's operations in the Netherlands traded in-line with management and a third store opened after the year-end.
Online sales continued to see strong growth in gross sales, profits and site traffic, with average post-purchase NPS above 80% and established customer NPS rising to 31.2% from 21.9%.
DFS CEO Ian Filby said:
"It is naturally pleasing to again report record results that demonstrate the robustness of our business model, the effectiveness of our growth strategy and the excellence of our products and our people. Together these unique assets give DFS the proven ability to achieve consistent outperformance of the retail furniture market over the long-term."
DFS is currently trading on a PER of 12.4, having rallied since July.
