February 8, 2017 / 7:14 AM / 9 months ago

BRIEF-Dunelm says HY sales up 2.8 percent

Feb 8 (Reuters) - Dunelm Group Plc:

* Half yearly report

* Interim dividend increased by 8.3 pct to 6.5p per share (fy16: 6.0p per share)

* Operating profit before exceptional costs for period was £66.3m (fy16 h1: £75.6m), a decrease of £9.3m (-12.3 pct)

* Operating profit margin before exceptional costs was 14.4 pct, 247bps lower than fy16 h1

* Operating profit for period was £57.0m due to exceptional operating costs of £9.3m (fy16 h1: £nil)

* Profit before tax and exceptional costs was £65.2m (fy16 h1: £75.5m), a reduction of 13.6 pct year on year

* Profit before tax (pbt) after exceptional costs reduced by 26.0 pct to £55.9m

* Hy sales at £460.5m versus £448.1m

* Hy ebitda at £71.4m versus £88.7m

* Hy first half saw total sales increase 2.8 pct, whilst like-for-like sales decreased by 1.6 pct

* Unusually warm weather in q1 reduced store footfall

* Q2 saw an improvement in performance in our stores and customers responded very well to our enhanced seasonal product lines, especially our new christmas offer

* Online also grew consistently through half at around 20 pct

* Despite these issues, we continued to take market share, helped by five new stores as well as our online growth.

* All of above resulted in a reduction in operating profits excluding exceptional items of 12.3 pct.

* Market conditions remain challenging but we are continuing to win market share based on strength and breadth of our customer offer. Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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