21 July 2024, 11:57
By Furniture News Aug 03, 2023

Dreams’ profits grow despite inflationary pressures

Profit before tax (PBT) increased by £1.6m to £50.1m at Dreams in the year ended 24th December 2022, with profit after tax increasing by £288k to £40.1m.

The retailer says this +3.3% PBT growth was a direct result of sales growth, yet PBT growth fell behind due to the inflationary environment and various non-operating costs.

Sales went from £358.5m to £387m, while total net assets increased by £10m to £45.7m.

“Looking ahead, naturally there remains a degree of uncertainty with regards the widespread economic challenges and rising interest rates which will put further pressure on household finances,” says Dreams. “However, the company is positioned strongly, continues to invest across the business and remains focused on delivering exceptional customer service through its first-class colleagues.”

Dreams plans to continue investing in its IT systems and online/digital capabilities.

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