Shares in Sanderson Design Group PLC (AIM:SDG), the upmarket textiles and wallpaper specialist, were under pressure following a warning that trading had weakened recently and a pre-Christmas improvement is needed to meet targets.
Dianne Thompson, chairman, said: “Trading conditions at the start of the second half have been more challenging than expected in almost all territories, particularly in the UK and Northern Europe.
“Total brand product sales for the first eight months of the current financial year are minus 10%, which compares with minus 9% for the first 22 weeks of the financial year. “
Interim sales to the end of July 2024 we down by 11% at £50.5 million, with profits slumping by 76% to £1.5 million. Net cash at the end of the period was £9.6 million.
Sanderson still paid an interim dividend, albeit reduced by a third to 0.5p.
Shares dropped by 15p to 61.5p.