The following amendment has been made to the Interim Results announcement released on 9 March 2021 at 07:00 under RNS number 5557R, which replaces the second paragraph of Notes to the unaudited condensed consolidated financial statements, 1: Basis of preparation: Going concern: The Group has a £225.0m revolving credit facility with a consortium of seven banks maturing in December 2023, with two one-year options to extend the facility, subject to mutual agreement. At the date of approval of these interim condensed financial statements, £154.0m of the revolving credit facility remained undrawn, in addition to cash in hand at bank of £7.3m as at 5 March 2021.
9 March 2021 | 09:46am
StockMarketWire.com - Furniture retailer DFS Furniture reported a sharp jump in profit as revenue was bolstered by driven by pandemic-fueled shift in consumer spending to the home.
For the 26 weeks ended 27 December 2020, pre-tax profit rose £56.2 million to £72.1 million year-on-year as revenue increased 18.3% to £572.6 million.
Profit was driven by strong order intake in the period, as a result of pent-up demand from lockdown one , market share gains and a shift in consumer spending to the home, the company said. We expect to see a good level of activity in the home market as Covid-19 restrictions ease and, having accelerated the execution of our strategy and grown our market share, we are well set for future growth, the company said.
About DFS Furniture plc DFS is the clear market leading retailer of living room furniture in the United Kingdom. We design, manufacture, sell and deliver to our customers an extensive range of furniture products. The business operates a retail network of living room furniture stores in the United Kingdom and Europe, together with an online channel. These have been established and developed gradually over 50 years of operating history. We attract customers to our stores and website through our substantial and continued investment in nationwide marketing activities and our reputation for high quality products and service, breadth of product ranges and price points and favourable consumer financing options.