Dunelm eyes first half profit rise

Homewares retailer Dunelm said it expects to post half year profit before tax in the range of 59m-60m pounds as it cautioned that sales growth in like for like stores will become much harder to achieve in the remainder of the current financial year.

Homewares retailer Dunelm said it expects to post half year profit before tax in the range of 59m-60m pounds as it cautioned that sales growth in like for like stores will become much harder to achieve in the remainder of the current financial year.

The bedding, curtains and blinds retailer said total sales for the 26 week period to December 29th 2012 rose to £340.1m from £299.9m the year before. Like for like sales for the half-year increased by 2.2%.

Gross margin for the half year is expected to improve by 30 basis points compared with the prior year.

Commenting on Dunelm's performance Chief Executive Nick Wharton said: "Dunelm has delivered another strong trading performance in the last half year, continuing to gain market share on a like for like basis, while strengthening its customer proposition and adding 10 new superstores."

"As we annualise our exceptionally strong comparative performance in the final quarter of last financial year, we anticipate that sales growth in like for like stores will become much harder to achieve in the remainder of the current financial year."

"Nevertheless, with a significant new store growth opportunity and an exciting multi-channel agenda in place, the Board remains confident in the longer term growth prospects for the business."

CJ

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Most Popular

Why we won’t see a house-price crash in 2021
House prices

Why we won’t see a house-price crash in 2021

Lockdown sent house prices berserk as cooped up home-workers fled for bigger properties in the country. And while they won’t rise quite as much this y…
18 Jan 2021
Prepare for the end of the epic bubble in US stocks
US stockmarkets

Prepare for the end of the epic bubble in US stocks

US stocks are as expensive as they’ve ever been. How can you prepare your portfolio for a bubble bursting?
18 Jan 2021
It's not just the UK – we're seeing pandemic housing booms across the globe
Property

It's not just the UK – we're seeing pandemic housing booms across the globe

Soaring house prices aren’t just a UK thing, they’re a worldwide phenomenon. And it’s no coincidence – the underlying cause is much the same. John Ste…
18 Jan 2021