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Dunelm sees profit ‘materially ahead’ after strong Christmas -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – A view of the logo for a Dunelm shop in St Albans (Britain), October 15, 2020. REUTERS/Peter Cziborra

LONDON (Reuters] – After a remarkable performance during the thirteen weeks leading to Christmas, Dunelm, a British retailer of homewares said Wednesday it expected its full year profit to surpass market expectations.

Company reported sales of 407 million pounds ($555million) in its second quarter. This is 13% and 26% respectively higher than one year ago.

Dunelm has 176 shops and an online business. It said that higher seasonal sales helped increase margins by 160 percent in quarter one.

Nick Wilkinson, chief executive said: “While there are many macro uncertainties to navigate, we feel well placed continue to deliver profitable growth over all channels. And grow our market share.”

According to the company, as long as no new COVID-19-related disruptions occur, it expects its full year pretax profit materially higher than market expectations.

A company-compiled consensus shows that analysts anticipate its average pretax profit of 181 millions pounds.

($1 = 0.7335 pounds)

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