Sondrel soars | Cash demands | Modestly valued
News covered here includes our assessment of the trading update from a modestly valued interior design and furnishings group. While growth has been a challenge over recent years, licensing activities look promising and it has the luxury of a rock solid balance sheet and plenty of cash, which is more than can be said from other companies covered here. (Premium)
Sanderson Design: struggling to advance, but evident promise Sanderson Design Group (AIM: SDG), the luxury interior design and furnishings group whose brands include Zoffany, Sanderson and Morris & Co, updated on trading for its financial year ended 31 January 2024. Group sales for the year were 3.1% below the prior year at approximately £108.5m, with higher-margin Licensing revenue driving profitability. North America, the Group’s second largest geographical market, performed strongly in the year, with brand product sales up 7.1% to £21.2m (27% of Brand revenue). Outside of North America, challenging market conditions continued to impact the UK, Northern Europe and…