DFS Furniture (DFS)

Sector:

Retailers

Index:

FTSE Small Cap

132.80p
   
  • Change Today:
      3.80p
  • 52 Week High: 139.00
  • 52 Week Low: 103.00
  • Currency: UK Pounds
  • Shares Issued: 234.14m
  • Volume: 85,013
  • Market Cap: £310.94m
  • RiskGrade: 218
  • Beta: 0.07

DFS trims sales target but holds on to profit guidance

By Benjamin Chiou

Date: Friday 19 Jan 2024

LONDON (ShareCast) - (Sharecast News) - Furniture retailer DFS has held on to full-year profit guidance despite a slight drop in first-half orders, as gains in market share and cost management has mitigated "challenging" trading conditions.
However, the company did lower its revenue forecasts for the full year to June 2024, pointing to sales of £1,020m-£1,040m, down marginally from September's guidance of £1,060m-£1,080m, due to "weaker-than-expected demand". That's down from the £1,089m of sales generated last year.

Group order intake was down 1.1% year-on-year in the 26 weeks to 24 December, with market volumes dropping by 9%, which DFS blamed on the record hot weather in September and early October as footfall tailed off.

"We have since seen demand recover and our profit guidance assumes market volumes are down -5% year on year through the remainder of the second half," the company said.

Nevertheless, the company said that underlying profit before tax and brand amortisation in the first half was "slightly ahead" of last year's £7.1m due to improved operational performance, manufacturing and sourcing, and lower costs.

As such, full-year profit guidance remains unchanged at £30-35m, compared with £30.6m reported the year before.

"Despite the weaker than expected market, good operational performance and progress on gross margins and lowering our cost base have enabled us to deliver a profit for the first half that is slightly ahead of the prior year and we remain on track to deliver our full year profit target," said chief executive Tim Stacey.

The stock was up 1.1% at 112p by 0828 GMT.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

DFS Furniture Market Data

Currency UK Pounds
Share Price 132.80p
Change Today 3.80p
% Change 2.95 %
52 Week High 139.00
52 Week Low 103.00
Volume 85,013
Shares Issued 234.14m
Market Cap £310.94m
Beta 0.07
RiskGrade 218

DFS Furniture Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
23.63% below the market average23.63% below the market average23.63% below the market average23.63% below the market average23.63% below the market average
41.46% below the sector average41.46% below the sector average41.46% below the sector average41.46% below the sector average41.46% below the sector average
Price Trend
55.66% above the market average55.66% above the market average55.66% above the market average55.66% above the market average55.66% above the market average
57.14% above the sector average57.14% above the sector average57.14% above the sector average57.14% above the sector average57.14% above the sector average
Income
84.01% below the market average84.01% below the market average84.01% below the market average84.01% below the market average84.01% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Growth
18.33% above the market average18.33% above the market average18.33% above the market average18.33% above the market average18.33% above the market average
33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 3
Sell 0
Strong Sell 0
Total 5
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

DFS Furniture Dividends

  Latest Previous
  Interim Final
Ex-Div 18-Apr-24 30-Nov-23
Paid 30-May-24 29-Dec-23
Amount 1.10p 3.00p

Trades for 21-Nov-2024

Time Volume / Share Price
15:25 2 @ 133.80p
14:55 52 @ 130.00p
14:55 224 @ 130.00p
14:55 1,594 @ 130.00p
14:24 465 @ 130.00p

DFS Furniture Key Personnel

CEO Tim Stacey

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