DFS, the sofa retailer, has announced a 22% plunge in annual profits as consumers cut back on big-ticket purchases.
The company, which also owns Sofa Workshop and Dwell and has 113 shops in the UK and Ireland, said profits dropped from £64.5m to £50m for the year to 29 July, although revenues edged up 0.9% to £763m.
The firm said the furniture market had got tougher in the spring, with fewer shoppers and orders between April and June. The period included the snap election called by Theresa May.
