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Dunelm delivers strong growth in 40th Anniversary year

Dunelm

Dunelm the UK’s No.1 retailer of homewares has published their annual results. The company is capitalising on 40 years of continuous sale growth and 14 year of experience in the online space.

Dunelm reported 4.8% increase in total revenue. The 35% increase in online revenue took the overall like for like rate of sales growth to 10.7%. The company recorded 8.5% growth in unique customers.

Download the full results presentation here.

Following the companies last update, investors were expecting profits closer to the £ 126 million mark. The company reported in line with expectations, with profit before tax of £125.9 million, a 23% jump compared to last year results. The diluted earnings per share was 49.9p an increase of 37% compared to 36.5 p in 2018. The underlying diluted earning per share that exclude the exceptional items attached to the integration of World Stores business is 40.0p , a 24.8% increase compared to 2018. The cash flow at the end of the period increased to £154.4. Final dividend of 20.5p, brings the full year ordinary dividend to 28p a growth of 5.7%.

Management has issued a cautious statement highlighting the uncertainty regarding the Brexit situation as a main detractor ahead of the busiest time of the period for retail and Dunelm in particular.

Dunelm has benefited from continuous online expansion, product innovation and greater use of in-store technology. The technology and intellectual property gained by the acquisition of World Stores, a brand that Dunelm now has phased out, gives the company inhouse capability to launch services like click and collect and improve the customer’s digital experience. With increased revenue on the online channel, the company is prepared to navigate the structural shift that characterises the retail world, with customers moving their purchase from high street into the online space.

Source: Insight DIY.


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