Sanderson Design Group PLC Trading Update (2532J)
December 21 2020 - 1:00AM
UK Regulatory
TIDMSDG
RNS Number : 2532J
Sanderson Design Group PLC
21 December 2020
For immediate release 21 December 2020
SANDERSON DESIGN GROUP PLC
("Sanderson Design Group", the "Company" or the "Group")
Trading Update
Sanderson Design Group PLC (AIM: SDG), the luxury interior
design and furnishings group, announces a trading update following
a strong performance in its key autumn selling period.
Group revenue during the current financial year has continued on
the improving trend from April 2020 as previously announced. In the
10 months to 30 November 2020, Group revenue was down approximately
14.6 per cent compared with the same period last year whereas, in
the six months to 31 July 2020, it was down 30.6 per cent.
In the nine-week key selling period of October and November
2020, the Company's brand product sales were up approximately 7 per
cent in reportable currency compared with the same period last
year. The Company's manufacturing operations have performed well,
with both the wallpaper and fabric factories now running at a
similar level to last year.
The Company believes that this demand reflects a widely reported
trend in the home improvement and furnishings sector, with
consumers having directed discretionary spending on their homes
during the Covid-19 pandemic.
The improvement in sales during October and November 2020 was
also reflected in profitability, which has also benefited from the
programme of cost reduction measures implemented by management in
the current and last financial years.
As a result, it is now expected that profit before tax for the
year ending 31 January 2021 will be substantially ahead of
management's previous expectations.
The Company's balance sheet remains robust, with improved cash
levels and a stronger liquidity position, as compared with 31 July
2020. This further improvement in the Company's financial position
prepares the business for a very uncertain trading outlook in the
remainder of the current financial year and in the next financial
year.
Sanderson Design Group's next trading update for the year ending
31 January 2021 is expected to be announced in mid-February
2021.
For further information:
c/o Buchanan +44 (0) 20
Sanderson Design Group PLC 7466 5000
Lisa Montague, Chief Executive Officer
Michael Williamson, Chief Financial
Officer
Caroline Geary, Company Secretary
Investec Bank plc (Nominated Adviser
and Broker) +44 (0) 20 7597 5970
David Anderson / Alex Wright / Henry
Reast
Buchanan +44 (0) 20 7466 5000
Mark Court / Sophie Wills / Toto
Berger / Charlotte Slater
SDG@buchanan.uk.com
Notes for editors:
About Sanderson Design Group
Sanderson Design Group PLC is a luxury interior furnishings
company that designs, manufactures and markets wallpapers, fabrics
and paints. In addition, the Company derives licensing income from
the use of its designs on a wide range of products such as bed and
bath collections, rugs, blinds and tableware.
Sanderson Design Group's brands include Zoffany, Sanderson,
Morris & Co., Harlequin, Scion, Anthology, Clarke & Clarke
and Studio G.
The Company has a strong UK manufacturing base comprising Anstey
wallpaper factory in Loughborough and Standfast & Barracks a
fabric printing factory, in Lancaster. Both sites manufacture for
the Company and for other wallpaper and fabric brands.
Sanderson Design Group employs approximately 600 people and its
products are sold in more than 85 countries worldwide. It has
showrooms in London, New York, Chicago, Paris, Amsterdam and
Dubai.
Sanderson Design Group trades on the AIM market of the London
Stock Exchange under the ticker symbol SDG.
For further information please visit:
www.sandersondesigngroup.com
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END
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