DFS sales dip fails to prevent profits growth

29th January 2010

The founder of sofa chain DFS says the past year was the best the retailer has ever had, with profits climbing by close to 50%. This was despite a near 3% sales fall.

Lord Kirkham told Retail Week magazine that he was targeting sales of £1bn before he would consider leaving the 78-store group, after recent speculation the company was considering a return to the stock market or seeking third party investment.

He said sales in the period to July had fallen by 2.9% to £577.8m, but had risen by a double digit percentage since. Back in the year to the end of July 2007, DFS group sales stood at £611.1m.

As of this morning (29/1), no accounts for 2009 were available from Companies House for any of the seven companies falling under the retailer's parent company, Full Circle Future Ltd.