Doncaster’s DFS sees online sales soar 76%

Shares of Doncaster-based DFS Furniture rose about 10% on Tuesday after it published a trading update for the first 24 weeks of its financial year to date, ending December 13, 2020.

DFS said gross sales over the period were 19% ahead on the comparative prior year period and its order bank “remains strong.”

Gross sales via its online channels were 76% ahead on the comparative prior year period.

In its outlook, DFS said: “Our expected full year financial out-turn is underpinned by revenue growth in the financial year to date and the current strong order bank position, which is currently approximately £200m higher year-on-year on a revenue basis.

“Therefore, subject to the extent of enforced showroom closures and based upon cautious order intake assumptions of -15% for the second half of the financial year, we would expect that full year Profit Before Tax and Brand Amortisation would be within the upper half of the current market consensus range.

As manufacturing operations, (both internal and those of certain suppliers) are running close to capacity, port delays appear likely to persist, and lead times are above average, the benefit of any second half order intake outperformance may shift increasingly to H1 FY22.”