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Dunelm Q2, H1 Revenue Rises; Sees Profit Growth In H1; Maintains FY View

Dunelm Group plc (DNLM.L), a homewares retailer, reported Thursday that its second-quarter revenue was 322.4 million pounds, up 6.2 percent from last year.

Total like-for-like or LFL sales increased 5 percent, reflecting strong growth across the total retail system.

For the first half, total sales were 585 million pounds, up 6 percent on a reported basis and up 5.6 percent on LFL basis.

In its trading update, the company said second-quarter gross margin improved by approximately 110bps, mainly due to sourcing gains and lower product markdowns.

Further, the company said it expects profit before tax for the first half to be approximately 83 million pounds, after adjusting for the impact of the new accounting standard IFRS 16 'Leases'. In the prior year, profit before tax was 70 million pounds, which was calculated on an IAS 17 basis.

Looking ahead, the company maintained expectations for the full year.

Dunelm will make its interim results announcement on February 12.

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