- Colefax remains cautious about the trading outlook - especially in the UK and Europe - as it enters its important autumn selling season.

Non-executive director Alan Smith will tell the annual general meeting later today (11 September) that trading since the group announced its final results in July had remained generally difficult but broadly in line with expectations.

He adds: "In our core 'fabric division', overall sales for the four months to 31 August are down 1% on a constant currency basis.

"Sales in the US, which is our largest market, were up 6%, sales in the UK were down 8% and European sales were down 7%."

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