CORRECTED-UK's Sanderson Design FY revenue falls 1%

Overview

• UK luxury interior firm's FY revenue fell 1% to £99.5 mln

• Adjusted underlying profits expected to rise to at least £5 mln

• Net cash position improved to £9.8 mln at year-end

Outlook

• Company sees increasing momentum in US, manufacturing, and DTC channels

• Company notes subdued UK trading conditions

• Sanderson Design confident in strategy for the year ahead

Result Drivers

• US SALES GROWTH - Strong growth in brand sales in the US and other overseas markets contributed to overall performance

• LICENSING PERFORMANCE - Robust licensing performance throughout the year supported cash generation

• COST SAVINGS - Strategic cost-saving initiatives drove strong growth in profitability

Key Details

Analyst Coverage

• The one available analyst rating on the shares is "strong buy"

• The average consensus recommendation for the home furnishings peer group is "buy."

• The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago

Press Release: ID:nRSJ3246Sa

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