Dunelm grows sales 10.5%

Dunelm Group “continued to deliver strong performance” in its last financial year, according to chief executive Will Adderley.
Preliminary results for the 52 weeks to 28 June 2008 show sales at the out-of-town homewares retailer up 10.5% to £391.8m from £354.7m in 2007.

Like-for-like sales increased 2.5% and underlying operating profit was up 12.4% to £49.4m (2007: £44.0m).

The group also reduced debt from £22.6m to £7.2m.

Eight new superstores were opened in the year, and one further unit has been launched since the year end. There are also six more units in the pipeline, and the retailer has begun a programme of store refits.

“The last financial year was again an excellent one for sales and profit growth,” commented Adderley. “In a tough market we continued to deliver strong performance and we have continued to grow our market share.”

He added that “there is still plenty more scope for us to build and improve the business”.

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