DFS sitting pretty on back of sofa sales
By Rob Freeman | 9th March 2021
Furniture sales during lockdown helped DFS chalk up a 17.3 per cent increase in revenue during the second half of 2020.
Despite the lengthy closure of shops during coronavirus lockdowns, a 66.2 per cent rise in online sales helped lift revenue soar to £572.6million compared with the previous year.
The rise in sales pushed profits before tax up from £56.2million to £72.1million.
Chief executive Tim Stacey said: "Our business has proven to be resilient throughout the period despite showroom closures and a significant amount of external disruption in our supply chains.
"The investments we've made in our digital channels have generated exceptional revenue growth."
He said the group's order bank remains well above normal levels with a forecast profit before tax for the full year of £105million.
DFS has an outlet at Cheltenham's Gallagher Retail Park.
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