Doncaster-based DFS Furniture plc said on Thursday it is on track to deliver full year profit performance ahead of market expectations.

DFS shares rose at least 10%.

The prediction came as DFS published results for the 26 week period ended December 29, 2024, showing its revenue slipped 0.1% to £504.5 million and underlying profit before tax and brand amortisation rose to £17 million, an increase of £8.3 million compared to the same period in the prior year. 

Reported profit before tax was £15.8 million, up from £900,000.

On current trading and outlook, DFS said: “Trading through the first 10 weeks of the second half has remained strong, with order intake increasing from the +10% achieved in H1, with our year to date order intake now +11  YoY …

“As a result of the continued strong trading, good cost control and assuming no further supply chain disruption we expect to outperform consensus expectations and deliver uPBT(A) of £25-£29m …

“Longer term the board remains confident in achieving our £1.4bn full year revenue and 8% PBT medium-term targets as set out in our 2022 Capital Markets Day.”

DFS CEO Tim Stacey said: “Our improved profit performance in the first half is testament to the strength of our customer proposition, the dedication of our colleagues and our collective focus on operational excellence, evidenced through increased market shares and customer satisfaction scores.

“We are on track to deliver full year profit performance ahead of market expectations and our confidence in the Group’s capabilities and future potential has never been higher.

“Given our strong market position and relentless focus on executing our strategy, we are confident that we will achieve our £1.4bn full year revenue and 8% PBT targets in the medium term and deliver strong returns for our shareholders.”