10th Sep 2013 10:32
LONDON (Alliance News) - Colefax Group PLC, a decorating company, Tuesday said that since July it has been trading broadly in line with expectations, with sales up the most in the US.
The international designer and distributor of luxury furnishing fabrics and wallpapers said in a statement ahead of its annual general meeting, that sales in the US, its most important market, for the four months to August 31 are up 6% on a constant currency basis. It said the US market represents roughly 54% of its fabric division.
It said that European sales for the four months to August 31 are up by 4% on a constant currency basis, while UK sales for the same period are down 2%.
"The Group is about to enter its important autumn selling season... trading conditions in all our major markets have been broadly in line with expectations," said Non-Executive Director Alan Smith in his AGM statement.
Colefax Group shares were up 2.7% or 7.50 pence mid morning Tuesday, trading at 290 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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