Half Year 2020 DFS Furniture PLC Earnings Call Transcript
Okay. Good morning, everyone, and welcome to the DFS Half Year Results Presentation. I'm here with Mike Schmidt, our Chief -- our Group Chief Financial Officer, who will run through the financials and join me for a Q&A session later on.
So just to start the presentation, our presentation today covers 3 areas. Firstly, our reported performance in the first half of the year. Second, an update on the progress we are making on our strategic agenda. And third, a bit more detail than usual on our outlook, given the uncertainty surrounding the COVID-19 outbreak.
Firstly, in terms of our first -- of our performance in the first half, our revenues were down 5.7% year-on-year. This was as we expected, given both the strong comparative period, which was boosted by deferred purchases as a result of the hot weather in the spring and summer of 2018 and also a tough market environment, especially in the latter part of 2019. Indeed, throughout the calendar year of 2019, we observed that the sofa market environment remained pretty
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