Member Article

Doncaster-based DFS officially announces IPO

Further to speculation last month, DFS Furniture Ltd today announces that it intends to proceed with an initial public offering.

The offer is expected to raise proceeds of £105 million.

According to retail consultants Verdict, DFS, which designs, manufactures, sells, and delivers furniture products has a 25.7% share of the estimated £3 billion upholstered furniture market in 2014, with 105 DFS-branded stores in UK, Republic of Ireland and Netherlands.

Based on the last reported twelve months to the period ending 1 November 2014, the Group recorded revenues of £674.6 million and Adjusted EBITDA of £85.2 million.

Ian Filby, CEO of DFS, said: “Our vision is to take DFS from being a great British business to a world class business. This is an exciting time for us as we continue to drive growth initiatives that are already underway against a backdrop of an improving macroeconomic environment.

“We see significant opportunity to further increase the Group’s penetration in the UK, strengthen our position as the market leader for online upholstered furniture sales and we recently entered Continental Europe with the opening of our first store in the Netherlands.

“In recent years and under Advent’s ownership we have invested substantially in the infrastructure of our business to create a robust platform to support our future growth plans.

“We have a track record of strong financial performance, including consistently strong cash generation, which has enabled us to deliver outstanding shareholder returns. We look forward to continuing to grow profitably in a new period of public ownership.”

This was posted in Bdaily's Members' News section by Clare Burnett .