Sales in the six months to 30 September were down nearly 15% at $444.1 (£352m), mainly due to a decline in sales at its business in the Americas that had been flagged up previously.

Adjusted operating profit increased from $30.5m to $38.2m.

Chair Stewart Gilliland said the board was pleased with progress with its plans for “improving operational efficiency and simplifying our business”.

The group, which trades as Design Group, appointed a new CEO, Paul Bal, in April and a new CFO, Rohan Cummings, in July.

Gilliland stated: “Whilst the challenging external environment, particularly in the US, has impacted our revenue performance, we have seen increased collaboration in navigating the uncertainty together with our customers.

“Our strategy of winning together with those customers that are succeeding has certainly been evident and we continue to provide a product portfolio that resonates with our customers.”

Regarding the outlook, Gilliland said the group detected “overall caution in our customers' ordering and their outlook”.

Despite that, the business is expected to deliver full year profits and margins in line with the board's expectations.

“We are becoming increasingly confident that a more resilient business model is taking shape and that we will realise our stated aspiration to return the group to pre-Covid-19 operating profit margins by 31 March 2025.”

Shares nudged up by 0.88% to 147.79p on the news (52-week high: 200.40p, low: 105.00p).