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Published on: October 11, 2022

Resilient interim results in uncertain times

Sanderson Design Group (SDG) delivered an impressive 12.5% increase in adjusted underlying profit before tax to £6.3m for H1 FY23 from the previously disclosed 0.7% increase in group revenue. Strong performances from the higher-margin activities of the North American market, licensing and the Morris & Co brand were the keys drivers of a significant gross margin expansion, also supported by prices increases. A good start to H2 underpins the group’s anticipation to meet the Board’s expectations for the year, while simultaneously expressing caution in light of the various headwinds buffeting businesses globally. We are prudently reining back our forecasts to reflect that caution, while expecting the group to mitigate cost pressures and further benefit from its brand pricing power.

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