REG - Colefax Group PLC - AGM Statement

ColefaxAnnouncement

22/09/2025 07:00

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RNS Number : 1460A  Colefax Group PLC  22 September 2025

AIM: CFX

 

 

COLEFAX GROUP PLC

 

("Colefax" or "the Group")

 

AGM STATEMENT

 

Colefax will hold its Annual General Meeting at 11.00 a.m. this morning and
David Green, Chief Executive, will make the following comment on current
trading:

 

In the Group's core Fabric Division, sales for the 19 weeks to 12 September
2025 were up by 7.8% and up by 10.3% on a constant currency basis. Sales in
the US, which is our largest market accounting for 64% of the Fabric Division
total, were up by 6.8% and 11.2% on a constant currency basis. Sales in Europe
were up by 7.8% and up by 5.9% on a constant currency basis. Sales in the UK
were up by 11.8% but against a weak prior year comparative.

 

Whilst the Fabric Division sales performance is encouraging, we remain
cautious about prospects due to the end of the pause in additional US import
tariffs on 1 August 2025 and the additional 50% import duty applicable to
Indian origin goods from 27 August. These tax changes have come into effect at
the start of our important autumn trading period and will add approximately $6
million to annual costs requiring significant pricing adjustments which may
adversely affect sales volumes. There is also uncertainty about the extent to
which tariffs will affect the wider US economy. In addition, we are facing a
significantly weaker US dollar exchange rate. Allowing for these factors and
budgeted increases in operating costs we are expecting the current year
performance to be in line with expectations.

 

 

Enquiries:

 Colefax Group plc    David Green, Chief Executive  Tel: 020 7318 6000
                      Rob Barker, Finance Director
 KTZ Communications   Katie Tzouliadis              Tel: 020 3178 6378

                      Robert Morton
 Peel Hunt LLP        Dan Webster                   Tel: 020 7418 8900

 (Nominated Advisor   Andrew Clark

 And Broker)

 

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