- Furniture retailer DFS Furniture resumed its dividend after swinging to an annual profit, but against an easier comparative as last year's performance was 'severely' impacted by the pause in deliveries for the majority of the final quarter.

For the 52 weeks ended 27 June 2021, pre-tax profit was £99.2 million compared to a loss of £81.2 million last year as revenue grew by 47.4%.

'Growth in new orders in the period was significantly stronger than the revenue growth and was driven by market share gains, pent-up demand from 'lockdown one', and a shift in consumer spending to the home, leading to a high closing order bank that will be recognised through H1 FY22,' the company said.

Compared to the non Covid disrupted pro-forma FY19 period, underlying pre-tax profit was up £55.6 million, while revenue was up 7.2%.

The dividend would be reinstated with a proposed final payment of 7.5 pence per share, the company said.

'As we enter a new financial year, the Group is very well positioned to build on its market leadership position in sofa retailing and to target further growth as we invest to strengthen our business platforms and extend our retail proposition into adjacent product categories,' the company said.

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