Walker Greenbank PLC (AIM: WGB), the luxury interior furnishings group whose brands include Sanderson, Morris & Co., Harlequin, Zoffany and Scion, is pleased to announce its pre-close trading update ahead of its results for the half year ended 31 July 2012.
The Board is pleased to report another successful trading period and anticipates that profit before tax for the half year will be in line with internal projections.
Total brand sales have grown 4 per cent in the first half compared with the same period last year, and we have seen a strong performance from our manufacturing operations. The positive performance overall is particularly pleasing against the backdrop of well-documented issues in the Eurozone.
In the UK, brand sales have grown 6 per cent during the half year whilst in Western Europe they have decreased 12 per cent in reportable currency and 6 per cent at constant currency.
As noted in our AGM statement, we have seen the first significant growth since 2008 in the US where brands sales in the half year were up 22 per cent in reportable currency and up 18 per cent at constant currency. Other international highlights include the Far East, where brand sales were up 13 per cent, and Russia, up 10 per cent.
In February this year we launched Scion, a new, contemporary brand. Initial sales of Scion are encouragingly ahead of our internal projections. More recently we launched Sanderson Home, a keenly priced Sanderson brand offshoot. Initial sales of Sanderson Home's launch collection, Maycott, have also been very encouraging.
The Board remains confident of meeting market expectations for the full year.
Walker Greenbank intends to issue its half year results in early October.
For further information:
Walker Greenbank PLC
+44 (0) 844 543 4668
John Sach, Chief Executive
Caroline Geary, Company Secretary
Mark Percy / Catherine Leftley - Nominated Adviser
+44 (0) 20 7107 8000
Katie Ratner - Corporate Broking
+44 (0) 20 7107 8058
+44 (0) 20 7466 5000
Mark Court / Fiona Henson / Sophie Cowles
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