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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