- Interior decorating business Colefax reported a sharp fall in profit as 'difficult' trading conditions dented sales across its businesses.

For the six months ended 31 October 2019, pre-tax profit fell 20.4% to £2.88m on-year and sales fell 5.3% to £42.98m.

Core fabric division sales were down 1.1% to £36.50m and decorating division sales fell 26.8% to £5.23m.

'The group's performance over the last six months reflects difficult trading conditions in most of our major markets,' Colefax said. 'This was not entirely unexpected given Brexit uncertainty and the low level of high end housing transactions in the US and the UK.'

The interim dividend was raised by 4.0% to 2.6p per share.

The company said it expected trading conditions to remain 'relatively challenging,' but added that it was 'well placed' to take advantage of any improvements in market conditions.

At 8:42am: [LON:CFX] Colefax Group PLC share price was -15p at 420p

Story provided by