DFS Furniture plc (DFS) Q2 2025 Earnings Call

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WEBVTT 00:00:00.537 -- 00:00:06.288 So good morning, everyone, and welcome to the DFS Group 2025 Interims Results Presentation. 00:00:06.288 -- 00:00:11.298 I'm Tim Stacey, Group CEO, and I'm here with Marie Wall, our Interim CFO, and 00:00:11.298 -- 00:00:14.464 together we'll update you on our half-won performance. 00:00:14.464 -- 00:00:18.612 I'll provide a bit of a strategic update and also a future outlook. 00:00:18.612 -- 00:00:22.476 Marie will come and talk about the financials. 00:00:22.778 -- 00:00:27.766 So in terms of the introduction, over the last few years, we've been very focused on 00:00:27.766 -- 00:00:32.775 building compelling customer propositions across our two retail brands, DFS and 00:00:32.775 -- 00:00:38.384 Sophology, driving significant amounts of new product development, developing a digital-first 00:00:38.384 -- 00:00:43.484 marketing strategy, and training our people to be the best salespeople in the industry. 00:00:43.484 -- 00:00:48.058 Now I'll share more detail on these initiatives later, but the combination of our efforts 00:00:48.058 -- 00:00:52.571 has supported our continued growth in market share, and we're pleased to report today 00:00:52.571 -- 00:00:57.170 an order intake growth of 10.1% in the first half. 00:00:57.170 -- 00:01:01.494 We've also focused on our operational execution and continue to make progress here with 00:01:01.494 -- 00:01:05.118 gross margins up 70 basis points year on year. 00:01:05.118 -- 00:01:10.303 And our cost to operate program achieving 43 million pounds of annualized savings, well 00:01:10.303 -- 00:01:15.146 on track to meet our 50 million target by the end of FY26. 00:01:15.429 -- 00:01:19.833 Obviously growing sales, increasing margins and reducing costs has clearly driven profit 00:01:19.833...