IN BRIEF: Colefax trading in line, US fabric division sales down 4%
Colefax Group PLC - London-based designer and distributor of furnishing fabrics and wallpapers - Updates current trading ahead of annual general meeting. Says trading conditions have remained in line with expectations since full year results were released on August 8. In the core fabric division, sales for the 21 weeks to September 23 were down by 1% on a constant currency basis. Sales in the US, its largest market accounting for 64% of the fabric division total, were down by 4% against strong prior year comparatives. Sales in the UK were up by 5% and sales in Europe were up by 2% on a constant currency basis. Expects trading conditions to become progressively more challenging due to the adverse impact of high interest rates on housing transactions and home spending. Read More