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Furniture retailer DFS Furniture reported a sharp jump in profit as revenue was bolstered by driven by pandemic-fueled shift in consumer spending to the home.
For the 26 weeks ended 27 December 2020, pre-tax profit rose £56.2 million to £72.1 million year-on-year as revenue increased 18.3% to £572.6 million.
Profit was driven by strong order intake in the period, as a result of 'pent-up demand from 'lockdown one', market share gains and a shift in consumer spending to the home,' the company said.
'We expect to see a good level of activity in the home market as Covid-19 restrictions ease and, having accelerated the execution of our strategy and grown our market share, we are well set for future growth,' the company said.
At 9:46am: (LON:DFS) DFS Furniture Plc share price was 0p at 228p