Dunelm continues to defy high street gloom

The new Dunelm store at Kilner Way, Sheffield, United Kingdom, 13th December 2016. Photo by Glenn Ashley.
The new Dunelm store at Kilner Way, Sheffield, United Kingdom, 13th December 2016. Photo by Glenn Ashley.
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Homeware chain Dunelm has continued to defy the gloom on the high street by posting a major jump in profits, the company said.

In the six months to December 28 sales jumped 6 per cent to £585m, with pretax profits up 19.4 per cent to £84.9m, with bosses saying sales grew across most categories, along with profit margin gains through less discounting.

Dunelm said, as a result of the strong sales, profits for the year are likely to be ahead of even the most positive predictions from analysts.

Chief executive Nick Wilkinson added: “The third quarter has started well, with a successful winter sale across the total retail system.

“As a result, we expect full-year FY20 profit before tax to be slightly ahead of the top of the latest range of analyst expectations.

“We are monitoring the coronavirus outbreak carefully. To date we have not assumed any material disruption to our supply chain or any financial impact in the year.”