Luxury furnishings group Sanderson Design has reported stronger than expected sales throughout its key selling period.
In the key nine-week selling period of October and November 2020, brand product sales were up 7% compared with the same period in 2019.
Brand product sales in December 2020 have been stronger than expected, up approximately 15% compared with December 2019. Brand product sales in January 2021 started well but have now been tempered by current UK national lockdown restrictions.
The Company’s manufacturing operations also performed more strongly in December 2020 than expected with sales up approximately 33% compared with December 2019. Manufacturing has performed well to date this month.
Commenting on the recent trading update, the group said: “This performance in both brand product sales and manufacturing has resulted in revenues being ahead of Board expectations and which, owing to the Group’s operational gearing and the cost savings already implemented, has translated largely into profit.
“The Board now expects profit before tax for the year ending 31 January 2021 to be not less than £6.3 million.”