UK's Sanderson Design hits over 4-yr low on profit warning
20/01/2025 14:46
** Shares of Sanderson Design Group Plc SDG.L slump as
much as 24% to 41p, their lowest since August 2020
** The luxury interior design and furnishings group warns on
profit, hurt by lower brand products sales and weak finish to
fiscal year in the UK
** Sees group sales for the year ending Jan. 31 to be about
101 mln pounds ($124.2 mln), down ~5% from its earlier
expectations; says "resultant sales mix will have a significant
impact on full year profitability"
** Sees FY25 underlying pre-tax profit of 4 mln pounds to
4.8 mln pounds
** Says subdued customer demand, particularly for fabric, is
expected to result in a greater-than-anticipated level of
year-end stock provisioning
** Stock fell more than 48% in 2024
($1 = 0.8135 pounds)
(Reporting by Aby Jose Koilparambil in Bengaluru)
((abyjose.koilparambil@thomsonreuters.com))