Dunelm increases profit 20 per cent following digital platform launch
A UK homewares retailer has announced that it has seen a growth in both profits and customers over the first half of this financial year.
Dunelm, which operates nationally, reported profit before tax of £83.6m for this financial half, up 19.4 per cent from this period last year (£70m).
The company also reported an 8.8 per cent growth in unique active customers, as well revenue growth of 6 per cent, up from £551.8m to £585m.
In its report this morning, the company emphasised the success of its new digital platform, which it said “enabl[ed] a new phase of growth” for the retailer.
Nick Wilkinson, CEO of Dunelm, commented: “We have made good progress over the first half, following a strong performance last year, which is reflected in the significant growth delivered in both sales and profits.
“We continue to build strong foundations for future growth. The successful launch of our digital platform accelerates our ability to innovate our customer proposition and we remain focused on operational improvements across all areas of the business.
“We also continue to broaden our customer base and following the successful sponsorship of ITV’s This Morning, which concludes in March, we are excited about our new sponsorship deal with Channel 4’s First Dates programme, starting later this week, which will enable us to reach more customers with the Dunelm brand.
“The third quarter has started well, with a successful winter sale across the total retail system. As a result, we expect full year FY20 profit before tax to be slightly ahead of the top of the latest range of analyst expectations.
“We are monitoring the Coronavirus outbreak carefully. To date we have not assumed any material disruption to our supply chain or any financial impact in the year.
“We have plenty to look forward to over the remainder of the year as we strengthen the Dunelm offer and help more customers to create the home they love.”
Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →
Enjoy the read? Get Bdaily delivered.
Sign up to receive our popular morning National email for free.