DISTRIBUTION

W&G parent Samson reports 24.3% sales rise in H1 to $220.6m

01.09.2010

Global furniture distributor Samson Holding - parent to the Willis & Gambier group in the UK and a suite of US based brands - grew sales by a quarter to $220.596m and profits before tax by 37.5% to $22.315m in the half year to end June.

The Hong Kong Stock Exchange listed company said in a statement that while most of its peers had reported year on year sales increases, recent economic indicators in the UK and US where it operated pointed to a challenging business environment, with sluggish economic recovery, high unemployment and meagre consumer spending.

All this, it said, meant it "was proud to have achieved a solid operating performance with substantial double-digit growth in both revenue and earnings."

It added the uplifts were attributable to investment in its brands and production efficiencies in its factories. Gross margin improved 80 basis points to 30.4% year on year. It said further optimising production processes would ensure it remained competitive despite rising raw material and labour costs.

Besides the Willis & Gambier group in the UK, Samson owns businesses including Lacquer Craft, Legacy Classic and Craftmaster.