Last checked at 21 Jan 2021 07:00
For immediate release | 21 January 2021 |
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 further to the Company's trading update issued on 21 December 2020, a time of escalating Covid-19 restrictions and uncertainty in connection with Brexit.
At that time the Company stated that, in the key nine-week selling period of October and November 2020, brand product sales were up 7 per cent compared with the same period in 2019. Brand product sales in December 2020 have been stronger than expected, up approximately 15 per cent compared with December 2019. Brand product sales in January 2021 started well but have now been tempered by current UK national lockdown restrictions.
The Company's manufacturing operations also performed more strongly in December 2020 than expected with sales up approximately 33 per cent compared with December 2019. Manufacturing has performed well to date this month.
This performance in both brand product sales and manufacturing has resulted in revenues being ahead of Board expectations and which, owing to the Group's operational gearing and the cost savings already implemented, has translated largely into profit. The Board now expects profit before tax for the year ending 31 January 2021 to be not less than £6.3 million.
As stated in the Company's trading update on 21 December 2020, the Company's balance sheet remains robust, preparing the business for ongoing uncertainty in the trading outlook in the current calendar year.
For further information:
Sanderson Design Group PLC | c/o Buchanan +44 (0) 20 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