DFS has seen its profit before tax almost double in its first half to £30.3m, despite operating in what it described a "subdued" market.

In the six months to 28 December, the furniture retailer’s gross sales increased by 8.7% to £734.5m, driven by "high profile exclusive brand partnerships", while its revenue rose by 8.6% to £547.7m.

However, its year-on-year order intake growth reached 2.2%, against a "strong comparator" of 10.1%.

While its non-upholstery home category recorded double digit growth, it stated that the upholstery market remains subdued over this period, due to consumer confidence and discretionary spending being influenced by broader macroeconomic uncertainty.

Despite this, DFS described its financial performance in this period was robust. In its outlook, the group said it has seen some softening in footfall in the second half of the year, due to "adverse weather conditions" and consumer confidence remaining "delicately balanced".

It has reiterated its full-year profit guidance range of between £43m and £50m, which the retailer said assumes no material supply chain disruption resulting from current geopolitical events.

Group chief executive officer at DFS, Tim Stacey, said: "In summary, the first half performance was reflective of our strengthening business and the dedication of our colleagues across the group. We delivered robust financial results in a subdued market environment and improved our financial position.

"As we look to the second half of the year and beyond, we remain focused on executing our strategy, driving profitable growth, strengthening our balance sheet and delivering long term value for our shareholders, customers and colleagues."

Following the trading update, shares in DFS fell by almost 3%.

---