Luxury interior design and furnishings group, Sanderson Design Group PLC, has reported a growth in sales and profit.
According to its full year results ended 31 January 2022, total sales rose 19.6% at £112.2m (FY2021: £93.8m; FY2020: £111.5m), reflecting the ‘receding impact of Covid-19 and the Group’s strategy for growth’.
Third party manufacturing sales were up 30.9% from FY2021 and up 8% against FY2020, with total sales (including sales to Group brands) up 46.8% from FY21 and up 17.5% against FY2020 contributing substantially to Group profitability.
Licensing income delivered £5.2m including accelerated licensing income of £1.4m with ‘strong and exciting’ collaborations with NEXT, Bedeck and Blinds2Go in the UK, Sangetsu, Nishikawa and Kawashima in Japan and Williams Sonoma in the US.
Reported profit before tax resulted at £10.4m, up 112.2% on the year ended 31 January 2021 (£4.9m).
Dianne Thompson, Sanderson Design Group’s Chairman, said: “I am extremely pleased to be able to report a strong set of results, not only delivering substantial growth against a year impacted by COVID-19, but also against 2020, prior to the pandemic. We delivered an excellent performance from manufacturing, continued strong growth from the Morris & Co. brand, strong licensing income and more than 40% sales growth in the USA, a key target growth market for us.
“Trading in the first three months of the current financial year has performed in line with our expectations, with continued demand for manufacturing and strong brand sales, particularly Morris & Co. and Sanderson. Licence income has also performed strongly. As we carefully navigate another potentially challenging year, the Board remains confident in its strategy and the results that are being delivered.”