Dreams posted fourth straight year of growth in 2017
Bed specialist Dreams posted bigger profits as sales trended up in high single-digits in 2017, a fourth straight year of growth.

Group pretax earnings climbed 7.2 percent to £29.2 million in the 52 weeks to December 24, the national retailer said in a press release.

Sales were also up 7.2 percent to £300 million with statutory revenue* estimated by The Furnishing Report at around £288 million.

Like-for-like sales advanced 3.3 percent with the company opening eight new stores during the period to reach 187 stores. It since taken the total to 190 (see related).

It moved from a net debt position of £11.1 million at the end of 2016 to having net cash of £11.4 million a year on, the company said.

In prepared remarks, CEO Mike Logue said: "Our results for 2017 reflect our ongoing investment and commitment to make, sell and deliver the most comfortable beds across the UK. We have continued to provide market leading quality, value and choice alongside a first-class customer experience.

"This positive set of results for 2017 is our fourth year of continued sales and profit growth, and is testament to the dedication of our colleagues across the UK. I wish to thank everyone at Dreams in our factory, shops, distribution and support centres for their hard-work and contribution.

"While the UK consumer economy continues to face a number of challenges, our continued growth and improvement puts us in a strong position to gain further market share."

Related: Dreams acquires, rebrands three former Warren Evans stores