Sanderson Design Group PLC on Tuesday saw shares drop, after it announced that it expects total revenue for 2023 marginally below the year prior.

Sanderson Design is a Denham, England-based luxury interior furnishings company that designs, manufactures and markets wallpapers, fabrics and paints. It also receives licensing income from the use of its designs on a wide range of products such as bed and bath collections.

For the year ended January 31, the company reported total revenue of £112.0 million, down 0.2% from £112.2 million a year prior. Brand product revenue fell 0.8% to £83.4 million from £84.1 million, while third party manufacturing revenue remained unchanged at £22.2 million.

Brand licence revenue, however, rose 23% to £6.4 million from £5.2 million. Sanderson said this was buoyed by several new agreements, and the renewal or expansion of existing licensing arrangements.

As at January 31, the company’s net cash position was £15.2 million, down from £15.0 million on July 31 due to an investment in inventory.

Underlying profit for the year is nevertheless expected in line with expectations.

Sanderson shares were trading 6.6% lower at 122.80 pence each in London on Tuesday morning.

The company’s full-year results will be announced in April.

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