DFS profit drops 24% to £35.8m following sales fall

17th April | upholstery | Sofa retailer DFS has reported a sharp fall in profits in the period leading up to start of the recession. In the year to August 2008, the upholstery chain recorded a 24% drop in pre-tax profits to £35.8m.

Sales in the period fell from £611.1m to £594.9m for the 77-store retailer. The accounts, though six month old, are the latest available for the company, which is owned by Lord Kirkham. Other retailers have reported sharp declines in sales in the period from September 2008 onwards.