SOFA SO BAD

DFS has become the latest high-street business to reveal tough trading, with profits diving 58%.

The sofa firm joined other retailers by blaming “challenging market conditions”.

The fall in halfyear profits to £7million was fuelled by its takeover of competing firms.

It has snapped up rival Sofology and also paid £1.2m for some of the assets and leases of collapsed chain Multiyork. DFS’s shares rose yesterday after it predicted expansion would deliver a longer-term boost.