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My son used to go to school with John Sach's twin sons, Hugo and James. My son has just left home to start University as they're the same age. I have no idea whether his kids have gone to College or not, but University isn't cheap. That would be my guess as to why he has sold some shares now.
Walker Greenback's Chief Executive Officer, John Sach, has sold 100,000 ordinary shares in the company on the same day the luxury interior furnishings group reported an increase in half year sales. The boost to sales came after an upturn in the US interior furnishings industry despite the fact that sales in Western Europe continued to be hampered by economic problems. Following the £71,500 purchase, Sach now holds just over 1.4m shares, equal to 2.39% of the total voting rights in the company. The group, which designs and manufactures fabrics, wallpapers and furnishings and whose brands include Sanderson, Morris & Co and its new contemporary brand Harlequin & Scion, said brand sales in the US jumped 21.5% in the half year to July 31st 2012 and 18% at constant currency. Brand sales in the UK, its largest market, were up by 5.6%. Sales were up 13% in the Far East and rose 9% in Eastern Europe. However, sales in the Eurozone declined by 11.6% or 6% in constant currencies as difficult market conditions persisted. The stock has risen by more than 50% over the past year, equal to 23.75p.
Walker Greenback's Chief Executive Officer, John Sach, has sold 100,000 ordinary shares in the company on the same day the luxury interior furnishings group reported an increase in half year sales. The boost to sales came after an upturn in the US interior furnishings industry despite the fact that sales in Western Europe continued to be hampered by economic problems. Following the £71,500 purchase, Sach now holds just over 1.4m shares, equal to 2.39% of the total voting rights in the company.
Group adjusted pre-tax profit rose to £2.7m in the six-month period from £2.43m the year before. Unadjusted pre-tax profit fell to £1.94m from £2.03m a year earlier. Sales rose to £38.3m from £37.4m after robust growth in the US, the Far East and Eastern Europe. Commenting on current and future trading, Walker Greenback said brand sales in the current half were subdued in August but grew 2.4% in September compared with the previous year. "Our manufacturing sites continued to perform well throughout. We remain confident of achieving market expectations for the full year," it said in a company statement. The group has increased the interim dividend 15% to 0.23p per share.
luxury interior furnishings group Walker Greenbank reported an increase in half year sales after an upturn in the US interior furnishings industry although sales in Western Europe continued to be hampered by economic problems. The group, which designs and manufactures fabrics, wallpapers and furnishings and whose brands include Sanderson, Morris & Co and its new contemporary brand Harlequin & Scion, said brand sales in the US jumped 21.5% in the half year to July 31 2012 and 18% at constant currency. Brand sales in the UK, its largest market, were up 5.6%. Sales were up 13% in the Far East and rose 9% in Eastern Europe. However sales in the Eurozone declined 11.6% or 6% in constant currency as difficult market conditions persisted. Chairman Terry Stannard commented: "We are pleased with our underlying performance in the first half. We enter the key autumn selling period with some excellent products, including those from our recently launched Scion and Sanderson Home offerings and also those from new product categories such as Harlequin trimmings." Licensing income rose 19% to £0.80m, with strong growth in Japan.
Valuation: Share price to continue performing The Walker Greenbank share price has continued to perform well in recent weeks, consolidating the sharp rise seen earlier in 2012. Nevertheless, the prospective rating for the current year (we are not changing our estimates) is below that of each of the comparators shown in our recent reports, despite the impressive record strong balance sheet.
CONT 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.
Half Year Trading Update 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.
http://www.investegate.co.uk/Article.aspx?id=201208070700044204J
Walker Greenbank, a luxury interior furnishings group, has reported that its US business has won a $0.156m order to supply a substantial quantity of fabric to the Moody Gardens Hotel in Galveston, Texas. The order amounts to about 7.8km of a Sanderson-designed fabric in colourways developed specifically for the Moody Gardens Hotel's bedrooms and bathrooms.
John Sach, Walker Greenbank's Chief Executive, said: "We're delighted to have received this substantial order from the Moody Gardens Hotel, which provides further evidence of a return to growth in our US business. The order, equivalent to more than 5 miles of fabric, adds to the pipeline of our UK manufacturing operations, which have performed strongly in the year to date."
Wins Substantial Order from Texas Hotel Walker Greenbank PLC (AIM: WGB), the luxury interior furnishings group whose brands include Sanderson, Morris & Co., Harlequin, Zoffany and Scion, is pleased to announce that its US business has won a US$156,000 order to supply a substantial quantity of fabric to the Moody Gardens Hotel in Galveston, Texas. The order amounts to approximately 7.8km of a Sanderson-designed fabric in colourways developed specifically for the Moody Gardens Hotel's bedrooms and bathrooms. The fabric will be printed at Walker Greenbank's fabric printing factory in Lancaster and exported to the US. At Walker Greenbank's AGM last month, the Company reported that sales in the US in the first 21 weeks of the current financial year were up 15% compared with the same period a year earlier, marking the first time that the Company has seen significant growth in the US since 2008.
http://www.investegate.co.uk/Article.aspx?id=201207190700089917H
....an sp is affected by the general market. It's transient. Happily adding.
....with a 105% return in two years. Keep up the good work WGB. You are a star in my portfolio....
The final dividend has been increased 25% to 1p per share, giving a total dividend of 1.20p per share compared to 0.95p in 2011.
Licensing income rose 11% to £1.59m and it is signed new licence agreements signed with tableware firm Portmeirion rugs group Brink & Campman. Chairman Terry Stannard said, "These results demonstrate further progress towards our vision of creating a highly profitable international luxury brands group. We have built strong market positions in our core sectors of wallpaper and fabrics and our brands have stretched into lifestyle categories such as rugs, tableware and lighting through our worldwide licence partners.
The fabrics group, whose brands include Sanderson, Morris & Co., Harlequin, Zoffany and Scion, said its brand sales grew by 7.3% to £57.4m with international sales up by 11% to £22m. UK sales, its largest market, grew 4.6% to £33.8m while its global licence income climbed 11%, led by Japan and its UK bed linen licensee. The firm, which recently announced it has won a contract with British clothing brand Barbour, said pre-tax profit rose to £4.9m for the year ended 31 January 2012 from £4.5m the same time a year earlier. Operating profits before exceptional gain rose 24% to £5.56m while overall revenue for the period rose to £74m from £68.78m before.
Luxury interior furnishings group Walker Greenbank unveiled a solid set of full year results, helped by a strong international performance, and is confident for the year ahead. Sales in the first eleven weeks of the current year rose 7% from the same period last year as demand for its expanding range of luxury goods grew.
This is big news for Walker Greenbank, its shares had risen 3.76% by 09:44. The gains continue an impressive run of form; since the start of 2012, the stock has gained 53% on AIM. The firm's Chief Executive John Sach said: "We're ... particularly pleased to see our fabrics being used in Barbour handbags, which reinforces the potential of our designs in uses far beyond interior decoratio
Ever wanted to match your handbag to the sofa? Well, a deal between the luxury furniture maker Walker Greenbank and Barbour may be of interest. Barbour has ordered two arts and crafts fabric designs from Walker, called "Strawberry Thief" and "Marigold". The fabrics will be used as lining for Barbour's jackets, duffle coats and handbags. The manufacturing will take place at Walker Greenbank's factory in Lancaster.
The story of Walker Greenbank's recent revival is a familiar one in the corporate world, according to the Investment Column in the Independent. Not only does the furnishings group operate at the luxury end of the market, which has been more resilient of late, but it is also benefiting from strong demand for its brands overseas, in the Russian, Japanese and Chinese markets. Its growing international reach helped Walker, which sells its products through department stores and licensees in more than 75 countries, boost pre-tax profits by 14 per cent to £2.35m for the six months to July. Revenues were up 11 per cent to £37.4m, with all four of its brands making a positive contribution. Overall, as the business celebrates its 150th birthday this year, we think its heritage brands have growth ahead of them, particularly overseas. And with its shares trading on a forward earnings multiple of just 6.1, we think the luxury group is worth a punt, says the Independent, who suggests to buy.
Terry Stannard, Walker Greenbank's Chairman, said: "With an expanding international customer base and strong product offering we have delivered excellent first half results and increased our interim dividend to 0.20p per share. Whilst there is uncertainty in the global economic environment, we continue to trade ahead of last year and are achieving strong growth in export markets. We enter the autumn selling period with confidence of achieving another strong full year performance."
Walker Greenbank PLC (AIM: WGB), the luxury interior furnishings Group whose brands include Sanderson, Morris & Co., Harlequin and Zoffany, is pleased to announce its interim results for the six month period ended 31 July 2011. Highlights · Half year revenue up 11% to £37.4m (2010: £33.7m), with all brands performing well · Strong revenue growth in export markets including Russia, Japan and China · Profit from operations (before exceptional gain in 2010) up14% to £2.35m (2010: £2.06m) · Profit before tax of £2.04m (2010: £2.31m), up 13% before exceptional gain in 2010 · Earnings per share of 2.61p (2010: 2.72p), up 26% before exceptional gain in 2010 · Interim dividend increased to 0.20p (2010: 0.15p)