Dunelm Group plc (DNLM) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to the Dunelm Interims presentation covering the first half of our financial year up until the 30th of December. My name is Nick Wilkinson, Alison Britton, Karen Witts, and I am really delighted to welcome you to the offices of Peel Hunt. Thank you for joining us and giving us your time this morning. Whether you're here in person or joining virtually, I hope you're well and feel connected to the continuing story of Dunelm. Those of you who came to our recent investors event in November know that we're at heart a product company. A product company that's also busy innovating in the ways that it connects its products to an ever-growing number of customers. So with images from our Spring Summer 24 collections, we'll use this presentation to bring to life how we're developing the business and the results we are achieving. It's our normal running order, a short overview from me, then Karen will go through the half-run results and guidance, and I'll be back to update on our plans before we take your questions. So, with our spring and Easter products demonstrating that everyone needs a bit of Dunelm in their lives, and with the spring in our step, let's get started. So, H1 highlights. In a complex environment, we've continued to perform strongly. Consumers remain under pressure. We're in growth, but our markets are not. And I'm pleased with the shape of our financial performance in the half. Our H1 profits are up by 4.8% on the prior year, in balance with our sales growth, up by a similar level. achieved through good discipline on gross margins in particular and on costs. We've announced the progression of our interim dividend and a special dividend of 35 pence per share, maintaining our track record in terms of cash generation and distribution. Act...