Go-Ahead Group CFO to trade transport for homeware with DuneIm

The British homeware retailer’s financial year ended on 4 July 2015 and it achieved sales of £200.1m in the final quarter – a 12.1 per cent growth year-on-year. Total sales for the year, meanwhile, reached £835.8m.

DuneIm has plans to open eight new stores in the near future, at least two of which are set to open in the first half of the new financial year. Elsewhere, its new web channel was launched in July 2015 to support customers coming into the new trading period.

Will Adderley, CEO, said: “We have continued to achieve good like for like growth in the final quarter of our financial year, across physical stores as well as our home delivery channel. I would like to thank all colleagues for their efforts in delivering this strong result.

“With a newly strengthened senior team, a recently upgraded website, a sound pipeline of new stores and an ongoing programme of capital and revenue investments in place, I am confident that we will continue to deliver further growth across all our channels going forward.”

Coinciding with the financial and strategic updates, the business has revealed its longstanding CFO David Stead will stand down in December 2015 to make room for The Go-Ahead Group’s CFO Keith Down as his replacement.

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Stead has been on the board since 2003 and will retire in early 2016 after completing a handover with Down, who qualified as a chartered accountant with KPMG. In addition to his time with transport group Go-Ahead, Down has also held senior finance positions with Tesco and JD Wetherspoon, while he is a non-executive director at Topps Tiles.

“Keith brings us a wealth of experience of financial management in retail and other consumer-facing industries,” said Andy Harrison, DuneIm chairman.

“His drive, experience and character will make a significant contribution to our growth, and will provide high quality support to John Browett who, as recently announced, will assume the role of CEO in January 2016 and who has been fully involved in Keith’s appointment.

“On behalf of the board, I would also like to thank David Stead for the huge contribution he has made to Dunelm’s success since he joined the company in 2003. He has provided excellent leadership and wise counsel to the board.”

By Zen Terrelonge

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