Sanderson Design Group (SDG) has reported its interim results, with a 68% decline in adjusted underlying PBT to £2.2m. The two main drivers of this performance are weaker Brand sales (down 8%) and the phasing of Licensing revenues, as previously reported by the group. SDG has declared an interim dividend of 0.5p, compared with 0.75p last year, reflecting the H1 performance. Trading conditions have been more difficult than expected in the first two months of H2 to end September, suggesting downside risk to previous expectations.