Doncaster-based DFS on track to deliver record year of profits

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Doncaster-based sofa chain DFS is on track to deliver a record year.

The firm, which has 106 stores in the UK, Ireland and the Netherlands, said sales lifted four per cent in its second half of the year to July 18 thanks to strong demand for so-called ‘big ticket’ items, spurred on by increasing numbers of house moves.

The firm said the strength of its second half trading puts it on course for a record annual performance, with underlying results within market expectations, which saw shares jump almost seven per cent.

Brokers at Jefferies are forecasting a seven per cent rise in full-year earnings to £88.1 million.

The business is expanding and plans to open three to five new UK shops a year.

DFS was founded by Lord Kirkham from a single store in Doncaster in 1969.

The group was listed on the London market between 1993 to 2004 before Lord Kirkham took it back into private hands.

It was then sold to private equity business Advent International for £500 million in 2010.