DFS' sales figures for the latter half of 2013 were £315.3m and EBITDA came up at £23.8m. Strong cash generation continues – cash balances were valued at £33.9m after payment of £20.0m dividend. In addition, there has been a strong current trading since the start of the Winter sale in December.
In terms of operational highlights, the new website is delivering good results, the 100th DFS store in UK and Ireland has opened in Torquay and a new brand partnership with Dwell has been established to further increase appeal to aspirational consumers.
DFS CEO Ian Filby says: “As we anticipated when we announced our first quarter results in December, footfall and trading remained relatively weak throughout the autumn period, which together with the transition of our website is reflected in our first half sales. However I am pleased to report that we have seen a significant uplift in current trading since the launch of our Winter Sale in December, and our strong performance in this key period will contribute to a positive start to the second half.
"The business continues to generate a consistently excellent cash flow and is well placed to provide further cash returns to stakeholders in the medium term."
