DFS Furniture PLC (LSE:DFS) has said it is performing in line with expectations and that it has seen a “more positive trend” in the upholstery market since September, following a significant decline in July and August.
Group order volumes are growing relative to the 2022 financial year and pre-pandemic FY19, the furniture group said in a trading update issued ahead of Friday’s AGM.
In addition, there is continued evidence of positive market share gains as shown in the latest Barclays/CACI market data, it noted.
DFS said its performance is in line with its mid-case scenario of £36mln pre-tax profits for the current financial year, with profits expected to be weighted towards the second half.
"We are pleased to report that since mid-September we have seen positive year-on-year order volume growth. While we continue to be watchful of the macroeconomic environment, we continue to take market share and our market leading position, inherent scale and proven strategy give us confidence in our future prospects," said DFS chief executive Tim Stacey in the statement.
DFS shares rose 4.22% to 129.65p in early trade.