StockMarketWire.com - Pre-tax profits from continuing operations at luxury furnishing fabrics and wallpapers specialist Colefax rose by 49% to £6.52m in the year to the end of April.

Sales were up 12% at £77.72m and earnings per share from continuing operations increased by 53% to 33.0p (2010: 21.6p).

The group ended the year with net cash of £6.30m (2010: £5.47m).

The board has decided to increase the final dividend by 29% to 2.00p per share (2010: 1.55p), making a total for the year of 3.85p (2010: 3.10p), an increase of 24%.

The final dividend will be paid on 11 October to shareholders on the register at the close of business on 16 September.

Chairman David Green said: "This is a strong set of results helped by an exceptional performance from our decorating division.

"We have seen growth in all of our major markets but I still feel that full recovery from the recession is a long way off.

"The group has a strong balance sheet and we are confident that we are well placed to take advantage of any improvements in our markets but until then we will work on cost controls and take a cautious view of the future."








At 8:47am: [LON:CFX] Colefax Group share price was -5p at 246p



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