Sanderson Design Group (SDG) has released a trading update for the year ending 31 January 2025. This details a recent deterioration in trading conditions, with a knock-on impact on the group’s full-year results. While the shortfall against prior sales forecasts is minor, namely around 1% to 2%, the resultant sales mix and increased stock provisioning will have a more significant impact on profitability. The Board is guiding to an adjusted underlying FY25E pre-tax profit of £4.0-4.8m. The balance sheet remains strong, with expected year-end net cash of around £5m, which is expected to build over H1 FY26E. The full-year results will be announced in April.