DFS Furniture, a British company, said it expects a lower profit for the year, due to a subdued upholstery market, delays in customer deliveries, and increased freight costs as resulting from Red Sea disruptions.

The company that operates in UK and Ireland said the demand for upholstery has fallen by about 10% on a volume basis year-on-year. This brings the overall market to record lows.

Commercial shipping is also a growing industry.

Global disruptions are occurring, including in Red Sea Region, where operators avoid the Suez Canal due to attacks by Houthi militants based in Yemen.

The company expects a pre-tax profit of between 10 million pound ($12.8million) and 12 millions pound, as opposed to its earlier forecasts of 20 to 25 million pound.

In fiscal 2023, an underlying pre-tax income of 30.6million pounds was reported. This excludes brand amortisation and continuing operations.