StockMarketWire.com - Colefax posts pre-tax profit of £2.88m for the six months to the end of October - dopwn 6% - - mainly reflecting a weak performance from the Interior Decorating Division

Sales were down by 4% at £37.44m (2013: £39.17m) but flat on a constant currency basis.

Colefax is an international designer and distributor of furnishing fabrics & wallpapers and owns a leading interior decorating business. The group trades under five brand names, serving different segments of the soft furnishings marketplace; these are Colefax and Fowler, Cowtan & Tout, Jane Churchill, Manuel Canovas and Larsen.

Core Fabric Division sales were up 5% on a constant currency basis.

Chairman David Green said: "In the core Fabric Division sales increased by 5% on a constant currency basis reflecting a good performance in the US and the UK but challenging trading conditions in Europe.

"We are optimistic about the ongoing recovery in the US and believe that trading conditions will remain favourable in this market. In addition, the recent strengthening of the US Dollar is a welcome development.

"In the Decorating Division activity levels are well below the exceptional performance of last year and this will offset some of the progress in the core Fabric Division."




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