13th Oct 2021 14:51
Sanderson Design Group PLC - Buckinghamshire-based interior design and furnishings - For the six months ended July 31, swings to pretax profit of GBP4.9 million, swinging from a loss of GBP907,000 the year before, and up 40% from GBP3.5 million for the first half of the 2019 financial year.
Swing to profit is attributed to increased sales, as well as actions taken in the prior year to control costs. Revenue, meanwhile, grew 48% year-on-year to GBP57.5 million from GBP38.8 million, due to continued demand for home interior production, and stronger order books from Sanderson's manufacturing business.
Revenue figure reflects a 2.9% rise from 2019's GBP55.9 million.
Resumes dividend payments with interim payout of 0.75 pence per share, up 44% from 0.52p in 2019.
Looking ahead, manufacturing sales and licensing income in the second half to date have remained robust, offsetting softer brand sales. Company remains confident in meeting management expectations for the full year.
"The first six months of our financial year have continued the strong recovery of the business, with particularly impressive performances from North America, manufacturing and the Morris & Co. brand. This positive trading and the strength of our balance sheet mean we are delighted to return to the dividend list with an interim payment. As we enter the second half of the financial year, we are mindful of the cost, supply chain and other issues affecting the UK and international business environment. We are focused on mitigating the potential impact of those issues on our business," said Chair Dianne Thompson.
Current stock price: 202.00 pence, down 4.3% on Wednesday
Year-to-date change: up sharply from 89.00p
By Dayo Laniyan; [email protected]
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