StockMarketWire.com - Luxury furnishing fabrics and wallpapers group Colefax posts a 51% rise in pre-tax profits from continuing operations to £4.39m in the year to the end of April.

The group - which trades under five brand names - said it benefited from the cost saving measures implemented towards the end of last year, the strengthening of the US dollar and a strong performance from the decorating division.

Sales from continuing operations down by 8% to £67.38m (2009 - £73.05m) and down by 10% on a constant currency basis.

But earnings per share from continuing operations rose by 53% to 21.6p (2009 - 14.1p) and the group had net cash of £5.47m (2009 - £3.08m.

The proposed final dividend of 1.55p (2009 - 1.33p), takes the total to 3.10p - an increase of 8% on last year.


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