20th Jul 2021 11:59
Sanderson Design Group PLC - Buckinghamshire-based interior furnishings company - Expects profit for six months to July 31 to be ahead of board expectations as positive trading continues through first 23 weeks of current financial year.
Strong performances from manufacturing, the Morris & Co brand and the US market contribute to GBP50.9 million sales in the first 23 weeks of the financial year, up 40% year-on-year.
"The board believes the group is benefiting from the convergence of three positive impacts: pent up demand for home interiors, the trend towards maximalism, and the post-Brexit increased demand for British design and manufacturing," it says.
North America is performing particularly well, with strong demand signalling renewed consumer confidence in the region, Sanderson notes.
"Our trading performance in the first 23 weeks of the current financial year is ahead of board expectations, reflecting the strength of our UK manufacturing along with continued demand for home interior products and a sustained trend towards decorative styles," comments Chair Dianne Thompson.
Current stock price: 166.50 pence, up 13% on Tuesday
Year-to-date change: up 84%
By Will Paige; [email protected]
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