UK's Sanderson Design Group gains on upbeat outlook

Sanderson Design

08/08/2023 14:22

** Shares of luxury interior design firm Sanderson Design
Group Plc  SDG.L  up 8% at 110p
    ** Co sees HY adj underlying profit before tax to be
slightly ahead of last year due to strong contribution from
licensing activities
    ** Says robust performance in first-half from its
high-margin licensing activities and growth in U.S. have
mitigated tough market conditions in UK
    ** However, HY group sales were down 2.1% in reported
currency at 56.7 million pounds ($72.04 million)
    ** Adds, expectations for FY profit remains unchanged
    ** Shares down ~12% YTD, as of last close

    
   


($1 = 0.7870 pounds)

 (Reporting by Anchal Rana in Bengaluru)
 ((Anchal.Rana@thomsonreuters.com; +91 9915609050;))