Dunelm profits shine

Homewares retailer Dunelm posted a robust set of half year figures, as it continues to open new stores, and said it remains confident in growth prospects for the business.

Homewares retailer Dunelm posted a robust set of half year figures, as it continues to open new stores, and said it remains confident in growth prospects for the business.

The bedding, curtains and blinds retailer said pre-tax profit rose by 14.6% to £59.8m for the 26 weeks to December 29th 2012 while revenue jumped 13.4% to £340.1m during the period.

Like-for-like sales up by 2.2% compared to 1.1% growth the previous year and gross margins improved 30 basis points to 49.5%.

Dunelm, which opened 10 new superstores during the period, has offered an interim dividend of 4.5p per share, up 12.5% from the prior year. The group has committed to a furhter six sites.

Chief Executive Nick Wharton said: "Dunelm has continued to outperform the overall homewares market. We have made good strategic progress during the period, particularly supported by our work to improve customer service, the continued expansion of our store portfolio across the UK and the progress made in our on-line offering."

"The final quarter of our financial year presents some challenging like for like sales comparatives, but with a significant new store growth opportunity and an exciting multi-channel agenda in place, the board remains confident in the overall growth prospects for the business."

CJ

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