11th Sep 2024 10:00
(Alliance News) - Dunelm Group PLC on Wednesday reported an increase in full-year profit, hailing market share gains despite a "softer" industry backdrop, as it remained confident to deliver long-term sustainable growth.
The Leicester-based home furnishings retailer said total sales in the 52 weeks to June 29 rose 4.1% to GBP1.71 billion from GBP1.64 billion.
Pretax profit increased 6.6% to GBP205.4 million from GBP192.7 million.
Dunelm lifted its final dividend by 1.9% to 27.5p per share from 27.0p.
It takes its total ordinary dividend to 43.5p, a rise of 3.6% from 42.0p. It had declared a 35.0p special dividend with its interim results, which was lower than a 40.0p special dividend from the prior year.
"This strong set of results is testament to the hard work of our adaptable and committed colleagues. In a period when consumers faced inflationary pressures and competing demands for their disposable income, we have continued to raise the bar on the relevance and value we offer at Dunelm. The continued delivery of volume-driven sales growth and further share gains in this softer market underlines this, and the strength and resilience of our business model," Chief Executive Officer Nick Wilkinson said.
He added: "Whilst we are gradually seeing improvements to economic indicators, we are yet to see a meaningful change in consumer spending habits in our markets. Against this backdrop, and compared to a strong first quarter last year, we have made a solid start to FY25. Our plans give us a clear pathway to reaching our next milestone of 10% market share in the medium term, and we remain very confident in our ability to deliver long-term sustainable growth as a result."
Dunelm shares fell 0.2% to 1,233.00 pence each on Wednesday morning in London.
By Tom Budszus, Alliance News slot editor
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