The Dunelm Board has recommended an increased final dividend of 20.5 pence per share, bringing the total ordinary dividend for the full year to [28.0] pence per share, an increase of 5.7% on the previous year. As a result of their strong cash flow generation this year, which reduced their net debt position, and in line with their policy, the Board has also declared a special dividend of 32.0 pence, to be paid in October 2019.
Other financial highlights include:
Total like-for-like ("LFL") sales increased by 10.7% with strong growth both in stores (7.7%) and dunelm.com (35.1%)
Focus on core Dunelm, with improved customer proposition offering more choice, style and value
Continuing growth in brand awareness and consideration helped drive an 8.5% increase in unique active customers
Ongoing development of digital capabilities with further plans in progress to enhance the multichannel customer experience
Increased homewares market share by 0.6ppts
Profit before tax of £125.9m up 23.4% (vs FY18 underlying profit before tax), reflecting higher sales, improved gross margins (+160bps) and better operational grip
Excellent cash flow generation: Free cash flow of £154.4m (+£101.5m vs FY18) and a significant reduction in net debt to £25.3m (FY18: £124.0m)
