DFS reports a sharp drop in annual profits

Sofa and living room furniture specialist DFS has reported a sharp drop in annual profits.

DFS said uncertainty in the economy had led to a “significant deterioration in the consumer market”, and continued weakness of the pound against the dollar had also held back profits.

Profits dropped 22.3% to £50m although revenues inched up to £762m. DFS has been in business for 48 years. Its brands include Dwell and Sofa Workshop, and it also has brand partnerships with French Connection and House Beautiful. It is in the process of taking over rival brand, Sofology, subject to regulatory approval.

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John Porter

John has been with Wrigley Claydon for over 20 years, becoming a partner in 1995. Specialising in Employment Law, John helps clients with matters including the preparation of recruitment policies and employment contracts as well as advocating in employment tribunals in cases of unfair dismissal or discrimination. He also has considerable experience of dealing with landlord and tenant disputes and matters relating to business and company sales, commercial investment property transactions and lettings as well as residential estate and offshore property developments. “I know I’ve done a good job when the business doesn’t need me!” John is never happier than when spending time with his wife and 2 children, Lucy and Alex. John is Chair of Respect Our Community Awards (ROCA) and a board member of First Choice Homes Oldham. In his spare time, John is likely to be found either reading, cooking or walking Donnie the Golden Retriever.