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Furniture retailer DFS Furniture reported a fall in profit as lower revenue and flat margins weighed on performance.
For the 26 weeks ended 29 December 2019, pre-tax profit fell to £15.9m from £35.3m on-year as revenue slipped 5.7%.
The fall in profit was blamed on lower revenues and flat gross margins year on year despite the highly promotional market.
The company declared an interim dividend of 3.7p a share, unchanged on-year.
'Trading in the second half for the group has also started satisfactorily with performance in the DFS brand particularly encouraging, with order intake growth year-on-year and good gross margins,' the company said.
'However, given the uncertainty as to how the current Covid-19 situation will develop it is not possible to give guidance with any certainty for the full-year out-turn. At present we believe our supply chain position should normalise before the financial year end, and it is only in very recent days that we have observed any change in consumer footfall to our showrooms,' it added.
At 9:31am: (LON:DFS) DFS Furniture Plc share price was -7.25p at 201.75p