DFS shares up 10% as order intake soars 92%

Shares of Doncaster-based DFS Furniture rose about 10% on Thursday after it published an update on recent trading through to June 6, 2021, showing its fourth quarter total order intake to date was up 92.1%.

DFS said it is on course to achieve full-year underlying profit before tax of at least £105 million, ahead of analyst forecasts.

The company said online order intake over the third quarter — with almost all showrooms closed — was up 222.5% on the prior year.

DFS Furniture CEO Tim Stacey said: “This performance once again reflects both the underlying resilience of the group and the tremendous support from our colleagues who have worked with huge dedication and commitment throughout the pandemic. 

“Our aim is to lead sofa retailing in the digital age by building a truly Integrated Retail model that allows us to drive market share gains ahead of the competition. 

“Looking ahead, we will continue to invest in key strategic initiatives such as our digital channels, our showrooms and our Sofa Delivery Company final mile logistics capability, along with new investment in UK manufacturing and capacity and expansion into other home categories.

“Despite short-term supply chain challenges and a macro environment that’s hard to read, we believe the business is well set for growth, to be delivered in both a responsible and sustainable manner. 

“Given our overall financial position and outlook it is our intention to recommend a full year dividend of 7.5p in September.”

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