Insider Media Limited

Homewares retailer Dunelm has said there is “potential” for an additional 150-200 superstores throughout the UK following a pre-tax profit of £76.8m. The results were revealed through the Leicestershire-based group’s preliminary results this morning, which also stated a rise in profits of 18 per cent from the 2009 result.

In its annual preliminary statement for 2010, the group said that its operating profit had soared 46 per cent to £75.5m, and pre-tax profit 46 had also risen by 46 per cent to £76.8m.

However, the company’s year-end net cash of £15.4m was down on the 2009 result of £24m.

The Syston-headquartered company said that it had opened ten new superstores throughout the year, giving space growth of 14 per cent. It also said that there was potential for 150-200 new superstores in the UK.

Will Adderley, chief executive, said: "These excellent results confirm the strength of Dunelm's business model and I am delighted to see the efforts of everyone within the Dunelm team bear fruit in this way.

"We remain as committed as ever to pursuing further profitable growth and the pipeline of new store openings for the year ahead is very positive.

"I am excited by the ways in which our offer keeps developing and the strength of our like for like sales growth over the last financial year demonstrates that our customers are responding very positively to our offer.

"Whilst we are clearly operating in challenging economic conditions and we expect to see continuing pressure on consumer spending, performance in the early weeks of our new financial year has been pleasing.”