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designers-guild-krProfits doubled at luxury home fashion brand Designers Guild ahead of its move into a new 80,000sqft West London DC this summer.


The furniture and furnishings group said it enjoyed UK growth across both its wholesale and retail arms in the year to end March — growing revenue here by 3.1 per cent to £15.5m — with growth continuing into 2014–15.


Worldwide 2013–14 sales were up 2.5 per cent to £51.4m, with sales to Europe up 1.5 per cent to £26.8m and 4.4 per cent in other world markets to £9.1m.


Pre-tax profits more than doubled to £2m, with its earnings increased by the inclusion of a £542k compensation payment for an early lease termination and a £324k compensation payment for an unspecified trade dispute.


Designers Guild completed its move to a new logistics centre at Matrix Park near Wembley in July, vacating its previous nearby warehouse on Relay Road.


The privately owned company said the full costs of its move — including £1.3m fitting out the new facility — would be reflected in next year’s accounts.


For the period to end March 2014, year-end cash grew to £1.4m (2013: £1.3m) with net debt rising to £3.5m (2013: £3.4m) and group shareholder funds reaching £10.7m (2013: (£9.7m).


Since March, Designers Guild said UK revenues had continued to rise — particularly in Q2 — and that it had also seen promising underlying growth in key markets including Scandinavia, Germany, Italy and Spain.


However, it cautioned that France remained challenging, and that the strengthening of the pound meant that sterling sales were down 4 per cent in the six months to end September despite it maintaining turnover in real terms.