Pre-tax profits at Colefax fell to £2.94m in the year to the end of April - down from £5.02m last time.
The international designer and distributor of furnishing fabrics and wallpapers and owner of a leading interior decorating business said its profits were hit mainly by a hedging loss of £2.0m following the decline in sterling.
Sales rose by 4.7% to £80.48m and the group said results were in line with market expectations and while underlying trading conditions in core US market were difficult, the second half showed an improvement over H1.
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