StockMarketWire.com - Colefax posts pre-tax profits of £5.03m for the year to the end of April - 3% up on last time.

The group - an international designer and distributor of luxury furnishing fabrics and wallpapers and owner of a leading interior decorating business - said sales were down by 2% at £76.80m.

The group said the results reflect a good performance from the fabric division which offset a challenging year in the decorating division.

Earnings per share up 15% to 32.2p (2014: 27.9p) and the group is proposing an increase in final dividend to 2.30p per share, taking total for the year to 4.40p, an increase of 5% (2014: 4.20p).

Chairman David Green said: "This year's results reflect a good performance from the Fabric Division with an increase in operating profits of 28% to £5.0 million mainly due to the continued recovery of the US market and a significant strengthening of the US Dollar in the second half of the year. In contrast the Decorating Division had a challenging year reporting a loss of £139,000 on sales down 28% at £8.0 million

"Trading conditions in our two principal markets, the US and UK, continue to improve and we are optimistic about further growth in our core Fabric Division. Although we are cautious about prospects for our Decorating Division we expect to see increased activity in all the other areas of our business and as a result we are optimistic about our overall performance."




At 8:42am: [LON:CFX] Colefax Group PLC share price was +32.5p at 502.5p



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