Dunelm withstands difficult year

Dunelm withstands difficult year

Dunelm (DNLM) shares sprang back to life following a set of annual numbers that largely matched up to its fourth-quarter statement. But shareholders will be glad of no surprises after a “difficult and disappointing” year. The group has closed the standalone website associated with its Worldstores acquisition, although Worldstores is still acting as a drag on the wider group’s profitability. Losses from that business have narrowed to £8.4m, compared with losses of £10.7m this time last year, but underlying pre-tax profits still fell 6.7 per cent to £102m. The group bought Worldstores out of administration for a nominal sum, but estimates the integration has cost as much as £30m.

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