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    DNLM   GB00B1CKQ739

DUNELM GROUP PLC

(DNLM)
  Report
Delayed London Stock Exchange  -  11:35 2022-12-01 am EST
1007.00 GBX   +0.10%
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Dunelm reports higher annual profit on robust demand

09/14/2022 | 05:10am EST
FILE PHOTO: A view shows a Dunelm store in St Albans

(Reuters) - Dunelm Group reported higher annual profit on Wednesday and said sales remained robust in the first ten weeks of the new fiscal year, signalling strong demand for home furnishing despite the cost-of-living crisis in Britain.

Shares rose as much as 6.5% in early trade.

Chief Executive Officer Nick Wilkinson said the operating environment was extremely challenging and the group was putting a tight lid on costs.

The British homeware retailer saw a 32% rise in profit before tax for the year ended July 2 to 209 million pounds ($240.12 million).

"We note that our latest homewares pricing survey indicates Dunelm has improved its price competitiveness through the introduction of more entry-price ranges, which we think should help to support topline," said an analyst at RBC Capital Markets.

The company has been building its inventories to combat industry-wide supply chain disruptions, with stock holding 29% higher than last year.

However, Dunelm expects stock holding to reduce in 2023.

Dunelm, which sells furnishings ranging from cushions and bedding to kitchen equipment, expects to deliver about 50% gross margin in 2023, slightly lower than the 51.2% it saw in 2022.

($1 = 0.8704 pounds)

(Reporting by Radhika Anilkumar in Bengaluru; Editing by Krishna Chandra Eluri)


ę Reuters 2022
All news about DUNELM GROUP PLC
10:44aUK dividends calendar - next 7 days
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11/30UK dividends calendar - next 7 days
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11/30Dunelm Group plc Announces Board Changes
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11/29UK shareholder meetings calendar - next 7 days
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Analyst Recommendations on DUNELM GROUP PLC
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Financials
Sales 2023 1 535 M 1 832 M 1 832 M
Net income 2023 135 M 161 M 161 M
Net Debt 2023 164 M 196 M 196 M
P/E ratio 2023 15,0x
Yield 2023 4,63%
Capitalization 2 026 M 2 417 M 2 417 M
EV / Sales 2023 1,43x
EV / Sales 2024 1,37x
Nbr of Employees 11 024
Free-Float 56,0%
Chart DUNELM GROUP PLC
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Technical analysis trends DUNELM GROUP PLC
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 11
Last Close Price 1 006,00 GBX
Average target price 973,82 GBX
Spread / Average Target -3,20%
EPS Revisions
Managers and Directors
Nicholas Guy Wilkinson Chief Executive Officer & Director
William Adderley President
Karen Witts Chief Financial Officer & Director
Andrew Harrison Non-Executive Chairman
Chris Brocklesby Chief Information Officer
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