DFS Furniture (DFS) Trading update summary

Financial performance and trading update

• Profit before tax and brand amortisation for H1 expected at £30-31m, up £13-14m year on year.

• Group order intake rose 2.3% year on year, with both DFS and Sofology brands achieving growth in a flat market.

• Gross sales on delivered orders expected to increase by approximately 8.7% year on year.

• Strong free cash flow reduced net bank debt from £107m to around £60-61m, with leverage improving to 0.8x.

• Full year underlying profit before tax now expected between £43-50m, ahead of consensus of £41m.

Strategic and operational highlights

• Continued focus on scale, vertical integration, data utilisation, and unique culture driving market proposition.

• Gross margin growth and effective cost management contributed to profit upgrade.

• Commitment to medium-term targets of £1.4bn revenue and 8% PBT margin.

Leadership update

• Dominique Highfield appointed as permanent CFO, joining in May 2026.

• Marie Wall, interim CFO, to transition out with a planned handover.