Business
Pre-Close Trading Statement
Pre-Close Trading Statement.
About this update from Dfs Furniture Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 4031B\n DFS Furniture PLC\n 10 June 2021\n \n \n \n \n \n \n 10 June 2021\n \n \n \n \n \n THIS STATEMENT CONTAINS INSIDE INFORMATION\n \n \n \n \n \n DFS Furniture plc\n \n \n \n \n \n Strong trading performance and outlook, with fourth quarter order intake to date up 92.1% on FY19, demonstrating the strength of our 'Integrated Retail' operating model\n \n \n \n \n \n Ahead of its financial year end on 27 June 2021, DFS Furniture plc (\"DFS\" or \"the Group\"), the UK's leading retailer of living room furniture, provides the following update on recent trading through to 6 June 2021.\n \n \n \n \n \n Highlights\n \n \n \n \n \n ● Fourth quarter to date (10 weeks) total order intake up +92.1%*** on FY19 (the most recent pre-lockdown comparable period), driven by customers waiting for showrooms to reopen post lockdown and increased consumer spending on home categories\n \n \n ● Online order intake over the third quarter (with almost all showrooms closed) was up 222.5%*** on the prior year\n \n \n ● Second half to date (23 weeks), total order intake of +14.0%*** on FY19 demonstrates the strength and resilience of our 'Integrated Retail' model \n \n \n ● Continuing group market share gain of 2%+, in a growing upholstery market, with further progress on our strategy to lead sofa retailing in the digital age\n \n \n ● On course to achieve FY21 underlying profit before tax**** of at least £105m\n \n \n ● Revenues and profits from recent strong order intake will be recognised in FY22: profit before tax**** scenarios of £66m-£96m are materially ahead of analyst consensus*\n \n \n ● Intention to recommend a final dividend of 7.5p, underpinned by robust cash generation and underlying FY21 leverage within our 0.5x - 1.0x target range \n \n \n \n \n \n \n \n \n Trading Overview\n \n \n \n \n \n ● Strong recent order intake level reflects our leading online and physical presence that has driven overall market share gains together with significant consumer spending in 'home' categories driving market growth\n \n \n ● Revenue growth over the first 49 weeks of +10.4%*** on FY19, with output in our made-to-order business model ramping up to meet demand despite disruptions\n \n \n ● FY21 full year underlying profit before tax**** expected to be at leas...