January 10, 2019 / 7:57 AM / 4 months ago

DFS Furniture warns of possible delays for some products ahead of Brexit

Jan 10 (Reuters) - DFS Furniture Plc flagged possible timing delays in delivering its made-to-order products, which sources material from outside Britain, as uncertainty around Brexit continues.

The company, which sells sofas, recliners and beds, maintained its full-year profit expectation, but said that it remained cautious around its outlook.

DFS also said on Thursday that its Chief Financial Officer Nicola Bancroft, who worked with the company for six years, would step down. Mike Schmidt, currently chief development officer, will take on the role on an interim basis from April 1.

The company’s underlying gross sales rose 10 percent in five months to Dec. 30, partly benefiting from orders placed by consumers who deferred their purchase decisions in May, June and July due to hot weather at that time.

With less than three months before Britain is due to leave the EU, Britain’s parliament on Wednesday began a five-day debate over Minister Theresa May’s deal with the rest of the bloc ahead of a vote in the lower house next Tuesday. (Reporting by Arathy S Nair in Bengaluru)

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