DFS grows annual profit by a third but reports weaker early-year orders
DFS Furniture ($DFS) increased annual pre-tax profit to £43.7 million from £32.9 million, while revenue rose 2.6% to approximately £1.06 billion. The company proposed a 2-pence final dividend, bringing the annual total to 3 pence after no payout in the prior year. Net bank debt fell to £69 million from £107 million, reducing leverage to 0.9 times from 1.4 times. The start of the new financial year was less buoyant: orders were down 2.5% over the first 12 weeks, with hot weather affecting demand.
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