Upholstery and furniture retailer DFS has published updated reports of a seven per cent increase in revenue on the previous year.
Despite Brexit concerns facing the entire industry DFS say they are confident of their ability to continue growth into the FY2017.
Its steady growth has been attributed to contributions from its subsidy companies Sofa Workshop and Dwell, which are reported to have added one per cent point to overall growth in the year ending July 30.
The current growth strategy which includes consistent store expansion in the UK and overseas and integration of omnichannel retailing is said to be “delivering ahead of the board’s expectations”.
DFS’ board claims that it: “recognises that, following the EU Referendum, retailing of furniture in the UK faces an increased risk of a market slowdown with additional cost pressures from foreign exchange movements.”
They have stated that although their current figures paint a promising picture of continued growth in the coming financial year, the six weeks since June 23 is not long enough to make a meaningful assessment of retail trends.
Remaining optimistic however the board have also stated: “the Group remains very well positioned to mitigate economic headwinds with resilient features in its operating model giving it the potential to achieve continued growth.”