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Colefax Group PLC issued a Full Year Trading Update on 21 April 2022. The company reported that trading in its US and UK markets has been ahead of expectations since 27 January 2022, and its Decorating Division will deliver an exceptional performance for the year due to a major UK project. The Board now expects the Group's profits before tax for the year ended 30 April 2022 to be ahead of market expectations.
| Date | 21 Apr 2022 |
| Time | 07:00:05 |
| Category | Trading updates |
| ID | 8092I |
AIM: CFX
COLEFAX GROUP PLC
("Colefax" or "the Group")
Full Year Trading Update
Since we announced our interim results on 27 January 2022 trading in our two major markets the US and the UK has been ahead of expectations reflecting strong demand for home-related spending. In addition our Decorating Division will deliver an exceptional performance this year due to the timing of completion of a major UK project. Fabric Division profitability is highly operationally geared and as a result of higher than expected sales the Board now expects the Group's profits before tax for the year ended 30 April 2022 to be ahead of market expectations. Like many businesses we are experiencing significant inflationary pressures so although demand is currently strong this adds a note of caution to prospects for the year ahead.
Enquiries:
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Colefax Group plc |
David Green, Chief Executive |
Tel: 020 7318 6000 |
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Rob Barker, Finance Director |
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KTZ Communications |
Katie Tzouliadis Dan Mahoney |
Tel: 020 3178 6378 |
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Peel Hunt LLP (Nominated Advisor And Broker) |
Adrian Trimmings Andrew Clark |
Tel: 020 7418 8900 |
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.