Dunelm achieved a 9.0% lift in pre-tax profit in the 52 weeks to July 2 2011 – to £83.6m, while operating profit was up 10.4% to £83.3m.
The company also confirmed that the year delivered sales of £538.5m, up 9.3%, although like-for-like sales dipped by 0.6%.
The retailer opened 10 new superstores in the year and now has 104 in total, with contractual commitments to 13 more – nine of which are scheduled to open before Christmas. There was also continued investment in store refits, with almost 50% of superstores either new or benefiting from a refit in past three years.
Dunelm said that the choice within its offer allowed it to attract a broad cross-section of customers, with products ranging from entry-level through mid-range to premium. It said that the policy had been particularly valuable during the past financial year as customer behaviour was changing, with more affluent customers looking for greater value while more value-led customers sought to trade up within the ranges to enjoy a low-cost, indulgent treat.
“Looking ahead, despite there being no obvious short-term catalyst for significant growth in the homewares market, we are confident in the ability of our Simply Value for Money proposition to deliver further growth for Dunelm,” commented CEO Nick Wharton.