Sofa retailer DFS Furniture has today reported a rise in half-year adjusted pretax profit, as cost-saving measures and operational efficiencies outweighed challenging macroeconomic conditions and soft demand in the UK.
The company implemented cost cuts and streamlined operations to counter pressure from rising business rates and minimum wages in the UK.
The company reiterated its full-year adjusted pretax profit forecast of £43-50m, supported by these cost-cutting strategies.
However, the company noted that the forecast reiteration assumed no supply chain disruptions from current geo-political events, as retailers grapple with potential supply chain and broader economic headwinds from theconflict in the Middle East.
DFS Furniture said consumer confidence remains "delicately balanced" amid a slowdown in the British economy and persistent inflation and flagged softer footfall from adverse weather conditions in the first half.
The company reported half-year adjusted pretax profit of £30.9m, in line with previous outlook of £30-31m.
