Half Year 2021 DFS Furniture PLC Earnings Call Transcript

Mar 09, 2021

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Mar 09, 2021 / 09:00AM GMT
Timothy Giles Stacey - DFS Furniture plc - Group CEO & Director

Good morning, everyone, and welcome to the DFS FY '21 Interim Results Presentation. I'm Tim Stacey, Group CEO, and I'm here with Mike Schmidt, our Group CFO.

Our presentation today will cover 3 areas. Firstly, I'll begin with a brief summary of our progress in the first half, with a reminder of the fundamental strengths of our group. Secondly, Mike will deliver the financial overview. And finally, I'll present my strategic update before finishing with the Q&A.

I'm pleased to report a strong set of interim results which strengthened our market leadership in a resilient Home & Furnishings market. We've delivered revenue growth of 19%, grown our PBT by over GBP 60 million, and reduced net debt by over GBP 100 million.

Revenue growth in the half was driven by the market recovery after the end of the first lockdown as well as market share gains of over 2 percentage points from successful strategy execution. We've achieved 68% growth in online sales in the half, with our integrated retail offering proving

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