There wasn't much unexpected news in these results, hence furniture retailer DFS's (DFS) shares didn't move dramatically on the day these numbers hit the market. But that doesn't mean there weren't some good headlines. Gross sales rose by a solid 7 per cent, helped by increased contributions from satellite brands Dwell and Sofa Workshop. That, along with actions taken to protect gross margins, pushed gross profits up 4 per cent to £53.5m.
IC TIP:
Hold
at
251p
A similar improvement in cash profits led the group to confirm a special dividend worth 9.5p a share. Adding that to Numis's expected 11.3p in regular dividends for the full year gives a forward yield of 8 per cent, partly elevated by the weakened share price.