DFS Furniture PLC
LSE:DFS

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DFS Furniture PLC Logo
DFS Furniture PLC
LSE:DFS
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Price: 162.5 GBX 0.31% Market Closed
Market Cap: 380.5m GBX

DFS Furniture PLC
Investor Relations

DFS Furniture Plc engages in the manufacture and sale of upholstered furniture. The company is headquartered in Doncaster, South Yorkshire and currently employs 4,792 full-time employees. The company went IPO on 2015-03-06. The firm is engaged in designing, manufacturing, selling and installing a range of sofas and other furniture products, and carrying out after sales servicing. The firm's segments include DFS and Sofology. Its DFS segment is engaged in manufacturing and retailing of upholstered furniture and related products through DFS and Dwell branded stores and Websites. Its Sofology segment is engaged in the retailing of upholstered furniture and related products through Sofology branded stores and Website. The firm operates approximately 118 showrooms in the United Kingdom and Republic of Ireland, eight across the Netherlands and Spain and a Web platform. The firm's subsidiaries include Diamond Holdco 2 Limited, Diamond Holdco 7 Limited, DFS Furniture Holdings plc, DFS Furniture Company Limited and Coin Retail Limited (Jersey).

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DFS
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Last Earnings Call
Fiscal Period
Q2 2023
Call Date
Mar 16, 2023
AI Summary
Q2 2023

Market Share Gains: DFS achieved record market share of 38% in the UK upholstery sector, up from 36% at the end of FY '22, despite challenging consumer demand.

Revenue Trends: Group revenue was up 9.4% compared to FY '19, but slightly down year-on-year. Digital sales remain strong, making up 24% of sales.

Gross Margin Improvement: Gross margin rose to 53.8%, up 190 basis points from the prior half and 30 basis points year-on-year, with further improvements expected.

Profit Guidance: FY '23 profit guidance is narrowed to GBP 30–35 million, in line with consensus, with profit expected to be weighted to the second half.

Cost Pressures & Control: Operating costs increased due to wage, logistics, and interest costs, but efficiency savings and a new cost review are underway.

Dividend Policy Update: DFS updated its capital distribution policy to an EPS cover-based calculation, projecting an ordinary dividend of 4.5p.

Beds & Mattresses Growth: The home segment, mainly beds and mattresses, now comprises about 5% of order intake, with online sales for this category up 70% year-on-year.

Key Financials
Revenue
Up 9.4% vs FY '19
Gross Margin
53.8%
Operating Costs
GBP 285.8 million (52.5% of revenue)
Net Bank Debt
GBP 135.6 million
Leverage
1.7x
Dividend (Interim)
1.5p
Order Intake (Q2 vs FY '19)
+16.3%
Market Share (Upholstery)
38%
Beds & Mattresses (as % of order intake)
5%
Beds & Mattresses Online Order Intake Growth
Up 70% YoY
Digital Sales Participation
24%
Profit Guidance (FY '23 underlying PBT & amortization)
GBP 30–35 million
CapEx (H1)
GBP 19.6 million
Other Earnings Calls
2023

Management

Mr. Timothy Giles Stacey
Group CEO & Director
No Bio Available
Mr. Russell Harte
Chief Operating Officer
No Bio Available
Ms. Elizabeth McDonald
Group Company Secretary & General Counsel
No Bio Available
Mr. Alex Salden
Managing Director of the Sofa Delivery Company
No Bio Available
Ms. Emma Dinnis
Managing Director of Sofology
No Bio Available
Mr. Nick Smith
Chief Executive Officer of DFS
No Bio Available

Contacts

Address
SOUTH YORKSHIRE
Doncaster
1 Rockingham Way, Redhouse Interchange
Contacts
+441302330365.0
www.dfscorporate.co.uk