| For immediate release | 22 June 2023 |
SANDERSON DESIGN GROUP PLC
("Sanderson Design Group", the "Company" or the "Group")
AGM Statement
"The Company continues to trade in line with the Board's expectations for the full year"
Sanderson Design Group PLC (AIM: SDG), the luxury interior design and furnishings group, will hold its Annual General Meeting ("AGM") at 10.00am today. At the AGM, Dianne Thompson, the Chair of Sanderson Design Group, will make the following statement on current trading:
"Licensing has continued to perform strongly in the current year with the announcement of major licensing deals with NEXT and Sainsbury's in February and March respectively, mitigating the continued uncertainty in the UK consumer environment which has impacted UK brand sales and had a knock-on effect on manufacturing.
"The US, a major focus for the Company, continues to trade positively. Along with the executive management team, I recently attended New York's Design Week, visiting our showroom in New York and meeting designers and customers. I was very encouraged by their feedback. The recent launch in the US of Morris & Co. outdoor performance fabrics was well received and, whilst these collections will be made available globally, we see particular potential for them in the US.
"European markets are beginning to show signs of improvement, particularly in the south of Europe, and the Middle East is also performing well.
"In terms of upcoming launches, we are excited by Harlequin's Sophie Robinson collaboration and by the Disney Home x Sanderson, vintage-inspired launch in the autumn.
"The Company continues to trade in line with Board expectations for the full year, and has a robust net cash position. We have a strong portfolio of brands, an exciting pipeline of product and licensing opportunities and we continue to benefit from our business mix, which is currently being led by the strength of our licensing activities. We look forward to providing a further update on trading in the half year to 31 July 2023 on 8 August 2023."
For further information:
| Sanderson Design Group PLC | c/o Buchanan +44 (0) 20 7466 5000 |
| Lisa Montague, Chief Executive Officer | |
| Mike Woodcock, Chief Financial Officer | |
| Caroline Geary, Company Secretary | |
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| Investec Bank plc (Nominated Adviser and Joint Broker) | +44 (0) 20 7597 5970 |
| David Anderson / Alex Wright / Ben Farrow | |
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| Singer Capital Markets (Joint Broker) | +44 (0) 20 7496 3000 |
| Tom Salvesen / Jen Boorer / Alex Emslie |
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| Buchanan | +44 (0) 20 7466 5000 |
| Mark Court / Toto Berger / Abigail Gilchrist | |
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Notes for editors:
About Sanderson Design Group
Sanderson Design Group PLC is a luxury interior furnishings company that designs, manufactures and markets wallpapers, fabrics and paints. In addition, the Company derives licensing income from the use of its designs on a wide range of products such as bed and bath collections, rugs, blinds and tableware.
Sanderson Design Group's brands include Zoffany, Sanderson, Morris & Co., Harlequin, Clarke & Clarke and Scion.
The Company has a strong UK manufacturing base comprising Anstey wallpaper factory in Loughborough and Standfast & Barracks a fabric printing factory, in Lancaster. Both sites manufacture for the Company and for other wallpaper and fabric brands.
Sanderson Design Group employs approximately 600 people, and its products are sold worldwide. It has showrooms in London, New York, Chicago and Amsterdam.
Sanderson Design Group trades on the AIM market of the London Stock Exchange under the ticker symbol SDG.
For further information please visit: www.sandersondesigngroup.com
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