Sanderson Design Group plc
Sanderson Design Group PLC (formerly Walker Greenbank; year ended 31 January 2026) is a UK-based international luxury interior furnishings group that designs, manufactures and markets wallpapers and fabrics, and licenses its designs onto a wide range of ancillary interior products. It owns six heritage and contemporary British brands (Sanderson, Morris & Co., Zoffany, Harlequin, Clarke & Clarke and Scion) and operates two UK manufacturing sites (Standfast & Barracks and Anstey Wallpaper Company), with a key growth focus on North America and on direct-to-consumer/licensing income.
11 annual reports read, FY2016 to FY2026
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (11)
FY2027Next report expected 4 May 2027
- Open the reportJSONComing soonSixty seconds on the FY2026 report
Sanderson Design Group, which designs and makes luxury wallpapers and fabrics under brands such as Sanderson and Morris & Co., had sales of £99.5m in the year to 31 January 2026, slightly down from £100.4m. It made a profit before tax of £3.1m, compared with a loss of £13.9m the year before. The previous year's loss came largely from a one-off £16,250,000 write-down in the value of its Clarke & Clarke business, which did not happen again. This year's profit was helped by £6.1m of licensing income counted early when new and renewed licence deals were signed, and by cost cuts that returned its factories to profit. Sales in North America grew, while the UK stayed difficult and US tariffs disrupted orders. Cash rose to £9.8m from £5.8m, with no borrowings and no money raised from shareholders. The dividend was held at 1.5p a share. Management said sales in the new year are growing. The auditors gave a clean opinion and raised no doubt about the company's future, though the report flags weak UK consumer spending and trade disruption as risks.
From the reportevery line sits on the page it namesWhat drove revenueBrand product sales (UK, North America, Northern Europe, Rest of World)
Brand revenue £70.0m of £99.5m total revenue FY2026; UK still ~40% of total brand product revenue
page 23AndLicensing income under IFRS 15 minimum guarantees
Licensing revenue £10.5m (FY2025: £11.0m), including £6.1m of accelerated income from new/renewed licence agreements
page 22What moved the margintailwindMix shift towards higher-margin direct-to-consumer and licensing
Gross margin 67.8% FY2026 vs 68.2% FY2025, up 60bps in Brands segment despite tariff/discounting headwinds
page 24AndheadwindUS tariff surcharges and clearance discounting
Tariff-related surcharges and increased discounting of clearance products reduced brand segment gross margin
page 24One-offs in the year£497k charge: Exceptional charge - settlement of historical NYC property tax obligations
page 95What management saidGroup revenue in the new financial year is showing year-on-year growth, with similar trends to that seen in the second half of FY2026; the Board is confident the Group is better positioned to withstand external events, aided by a lower cost base, and will continue to pay annualised cost savings in FY2027.
page 9After the year endThe Board considers that no material post-balance sheet events occurred between the period end and date of publication
page 69The dividendFinal dividend of 1.00p proposed (FY2025: 1.00p), giving a total dividend for the year of 1.50p (FY2025: 1.50p); Board committed to maintaining the dividend and returning to a progressive dividend policy when trading conditions improve, despite book value per share being higher than market price
page 26Going concern and the auditUnqualified audit opinion from BDO LLP (true and fair view); Directors adopted going concern basis after reviewing a Management Base Case model and stress-tested forecasts, covenant compliance confirmed; Key Audit Matters FY2026: inventory valuation/provisioning and revenue recognition of accelerated licensing income (impairment of goodwill was a KAM in FY2025 but not FY2026 as goodwill was fully impaired then); Group materiality £475,000 (0.5% of revenue)
page 73The risks it names first- Competitor environment (international) - highly competitive markets, risk of design imitationp.46
- Trading environment - macroeconomic/geopolitical factors, high fixed cost base, discretionary UK consumer spendp.47
- Foreign exchange - increasing proportion of activities/earnings denominated in USD and EURp.47
- Supply chain pressure - geopolitical instability, trade restrictions, key supplier/raw material dependencyp.48
Read from C001134-AR-2026-ch.
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