Dunelm sees FY21 profits surge 44% to £157.8m
Total sales also rose by 26.3% to £1.3bn for the period from £1.05bn the previous year and was boosted by a 115% increase in digital sales
Dunelm has reported that pre-tax profits for the full-year ended 26 June 2021, grew by 44.6% to £157.8m from £109.1m, reflecting the group’s ongoing focus on operational grip, despite the impact of store closures.
Total sales also rose by 26.3% to £1.3bn for the period from £1.05bn the previous year and was boosted by a 115% increase in digital sales.
Furthermore, the group has in place a £165m syndicated Revolving Credit Facility (RCF) which matures in March 2023 as well as £10m of uncommitted overdraft facilities and has an accordion option within the RCF for a maximum facility of £75m.
Nick Wilkinson, CEO, Dunelm, said: “We delivered an excellent performance in FY21, despite our stores being closed for more than a third of the year, demonstrating the strength and resilience of our business model and the adaptability and commitment of our colleagues and suppliers.
“Whilst the macro-outlook remains uncertain and we are seeing some industry-wide issues such as ongoing supply chain disruption and inflationary pressures from raw materials, freight costs and driver shortages, we feel well placed to continue managing these challenges.”
He added: “Trading in the first ten weeks of the new financial year has been encouraging, with growth against strong comparatives and continued market outperformance.”
