8th Feb 2024 11:11
(Alliance News) - Sanderson Design Group PLC on Thursday said it traded in line with expectations, but saw profit and sales fall on challenging trading conditions in the UK.
Shares in the Denham, Buckinghamshire-based luxury interior furnishings company fell 11% to 112.00 pence each in London on Thursday morning.
Sanderson Design said sales fell 3.1% to GBP108.5 million in the financial year ended January 31 from GBP112.0 million the year before.
Underlying profits for the financial year are expected to be about GBP12 million, down 4.8% from GBP12.6 million in financial 2023.
Looking ahead, Sanderson said it expects trading conditions to remain challenging in the UK and Europe. Nevertheless, it said it has a strong pipeline of product initiatives in the year ahead, including the strategic focus on the Sanderson brand.
Sanderson is set to publish its full-year results in April.
By Sabrina Penty, Alliance News reporter
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