FURNITURE firm Cornwell Parker has warned that it is still suffering from tough trading conditions with a recovery looking unlikely this year.

The firm, which recently opened a multi-million pound distribution centre at the Network 65 Business Park in Burnley, issued its second warning about trading since April.

The firm, which manufactures Parker Knoll furniture, revealed its pre-tax profits for the six months to January 31 had fallen 36 per cent to £2.1 million.

In a brief statement to the Stock Market, Cornwell said: "The challenging conditions referred to in the group's interim statement have continued with the result that trading has fallen significantly short of expectations and shows no signs of recovering in the current financial year."

However, Cornwell said it still intended to recommend a final dividend of 3p, taking the total for the year to 4.5p.

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