DFS Furniture expects profit to rise 30% to top £50m

Doncaster-based DFS Furniture said in a trading statement on Thursday its underlying profit before tax is expected to be slightly above £50 million compared to £38.3 million in the prior year.

DFS also confirmed the appointment of Mike Schmidt as chief financial officer.

“The Sofology brand has continued to perform very well achieving strong LFL gross sales growth with profitability in line with our expectations and the brand is well positioned for the future,” said DFS.

In its outlook, DFS added: “Despite a solid trading performance, we remain mindful of the risk that the volatile political and economic backdrop may further impact on already low consumer confidence levels.

“Our progress in the near term will inevitably be somewhat dependent on this backdrop …”