Morris wallpaper maker takes £1.8m hit from Russia exit

The group behind William Morris pattern wallpaper has suffered a £1.8m hit from exiting Russia.

Shares in luxury wallpaper and textiles business Sanderson Design Group fell 7pc after it revealed its European business was affected by its exit from Russia.

The group, which has showrooms in London, New York, Chicago, Amsterdam and Dubai, said overall sales were flat at £112m over the year to Jan 31. Sanderson said it was buoyed by “strong” sales of Morris & Co branded products. It also hailed 18pc growth in North America.

However, these gains were offset by a slump in northern Europe after ending trade in Russia, where it had previously recorded £1.8m in sales.