DFS continues to expand after posting record year

DFS, the Doncaster-headquartered furniture retailer, has posted a record year as both profits and revenue experienced significant growth.

For the 52 weeks ending 30 July 2016, DFS reported a 7.1% increase in revenue to £756m, whilst pre-tax profit rose to £64.5m from £33.3m the year before.

The retailer also saw total sales rise by 7.4% to £980.4m from £913.1m in 2015, and adjusted profits after tax significantly increased from £39.5m last year to £50.3m.

DFS extended partnership agreements with French Connection, House Beautiful and Country Living during the year, and also secured the opening of three new 10-15,000 sq. ft. stores at in the UK and the Republic of Ireland.

In addition, a smaller store was launched in Bromley in April 2016 with a further store in Crawley set to open in “this format.”

Richard Baker, DFS chairman, said: “The tried and tested DFS growth strategy has delivered another set of record results and puts us in an excellent position, as the market leader, to continue to generate 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.”

Ian Filby, DFS chief executive officer, added: “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.”