DFS Furniture sees half-year profit nearly doubling on cost savings, order uptick (updated)
17/01/2025 08:21
(Adds details and CEO statement in paragraphs 2 and 3)
Jan 17 (Reuters) - British retailer DFS Furniture
DFSD.L , on Friday, estimated its profit surged up to 95% in
the first half of the fiscal year 2025 as disruptions at a
competitor helped it gain more orders and bigger market share.
However, the Doncaster-based company foresees lower profits
in the second half of fiscal 2025 compared to the first half
ended Dec. 29, 2024, due to operating costs rising following the
UK budget in October 2024.
"We are cautiously optimistic despite the increased
inflationary pressures and less positive market outlook for
2025," CEO Tim Stacey said in a statement.
The furniture retailer sees profit before tax and brand
amortisation for the reported period to be between 16 million-17
million pounds ($19.5 million-$20.7 million), compared with 8.7
million pounds a year ago.
($1 = 0.8206 pounds)
(Reporting by Raechel Thankam Job; Editing by Sumana Nandy)
((RaechelThankam.Job@thomsonreuters.com;))