Homeware retailer Dunelm revealed it has started stockpiling products due to continued Brexit uncertainty, as it reported a sharp rise in profits.
The firm said to mitigate against potential disruption at “deep-sea” ports following Brexit, it has started to purchase “incremental stock of some best-selling lines and securing additional supply chain capacity”. Dunelm imports less than 1 per cent of its goods from EU countries.
For the six months ended December 29, pre-tax profit increased 24 per cent to £70m as revenue grew 1.2 per cent to £551.8m.
Dunelm chief executive Nick Wilkinson said: “We traded well through our key winter sale period and remain pleased with our performance to date.
“As previously highlighted, we are cautious about the outlook for the remainder of the financial year due to the continuing political uncertainty in the UK.
“We are confident in delivering market expectations for the full year, assuming no material change in the macro-economic environment.”