Sanderson Design Group PLC - London-based interior design and furnishings - In April, Sanderson said trading conditions overall were expected to remain challenging in the current financial year, ending January 31. However, says since that time, trading conditions in the UK have ‘deteriorated’, impacting brand product sales during the months of May and June. For the first 22 weeks of the current financial year, total brand product sales were down 9% compared with the same period last year. In the UK, brand product sales were down 14%.

Looking ahead, says shortfall in revenue has a particular impact on profitability in the current financial year. Now expects financial 2025 trading to be below its earlier expectations. Underlying pretax profit expected to be about £8 million.

‘In light of current trading conditions, the board is accelerating its programme of strategic initiatives. As part of this programme, a review was recently launched of the end-to-end cost to serve in the UK, with the objective of delivering a more efficient model. Opportunities for further cost savings have also been identified, including the reduction of capital expenditure and discretionary spend, as part of an ongoing cost control exercise,’ it adds.

Current stock price: 81.90 pence, down 20% in London on Thursday

12-month change: down 33%

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