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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Dunelm Group plc    DNLM   GB00B1CKQ739

DUNELM GROUP PLC

(DNLM)
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Dunelm : UK retailer Dunelm seeks to move on after Worldstores deal

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09/12/2018 | 03:14am EDT

(Reuters) - British furniture retailer Dunelm Group Plc reported flat annual profits on Wednesday after taking an 8.9 million pound charge in its efforts to complete integration of loss-making internet business Worldstores.

Shares in the company gained 4 percent after it reported a 4.2 percent rise in like-for-like sales for the year, bouncing back from falls in the first half, and said it had now shut the Worldstores websites and moved all business to its Dunelm brand.

Dunelm has been struggling to stay competitive due to dwindling customer numbers at its more than 170 stores and the protracted integration of the Worldstores and Kiddicare brands, which it bought almost two years ago for 8.5 million pounds.

Chief Executive Nick Wilkinson said the company had now made a total cash outlay on the Worldstores acquisition of 30 million pounds, including goodwill payments to suppliers and trading losses.

Dunelm, which sells curtains, beds and other home furnishings, posted a pre-tax profit of 93.1 million pounds, for the year ended June 30, compared with 92.4 million pounds reported a year earlier.

Underlying pre-tax profit was 102 million pounds for the year ended June 30, down 7 percent year-on-year hit in part by a 8.4-million-pound trading loss related to integration of Worldstores which it bought two years ago.

"The UK retail environment remains challenging, but against this difficult background we have traded in line with expectations during the current financial year to date," Wilkinson said.

"The acquisition of Worldstores ... has accelerated the development of our multichannel capabilities, but the process of integrating Worldstores into Dunelm has been substantial and has reduced our focus."

Dunelm also hiked its full-year dividend by 1.9 percent to 26.5 pence per share even as it said the UK retail environment remains challenging.

(Reporting by Shashwat Awasthi and Muvija M in Bengaluru; Editing by Gopakumar Warrier)

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Financials (GBP)
Sales 2020 1 144 M
EBIT 2020 138 M
Net income 2020 107 M
Debt 2020 64,2 M
Yield 2020 4,25%
P/E ratio 2020 15,0x
P/E ratio 2021 13,8x
EV / Sales2020 1,44x
EV / Sales2021 1,34x
Capitalization 1 584 M
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Mean consensus HOLD
Number of Analysts 10
Average target price 799,00  GBp
Last Close Price 784,00  GBp
Spread / Highest target 27,6%
Spread / Average Target 1,91%
Spread / Lowest Target -28,6%
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Managers
NameTitle
Nicholas Guy Wilkinson Chief Executive Officer & Director
William Adderley President
Andrew Harrison Non-Executive Chairman
Laura Carr Chief Financial Officer & Director
Chris Shaw Chief Information Officer
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