LONDON (Alliance News) - Interior furnishings company Walker Greenbank PLC on Wednesday said it expects its pretax profit to come in at the top end of analysts' consensus for the year on the back of a rise in sales.
The company said it has performed well since its half-year results were published in October and expects group sales for the full year to January 31 to be up 6.4% to GBP83 million. As a result, it expects adjusted pretax profit for the year to be at the top end of analyst guidance. According to Morningstar, the consensus guidance for the group's pretax profit is GBP7.7 million.
Total brand sales for the year were up 6.7%, Walker said, and rose 8.2% in constant currencies. Sales were pushed higher by strong growth in its contracts division and a strong contribution from its Anthology fabrics brand. UK brand sales rose 10%, US brand sales rose 1% and Western Europe sales were up 5%. Rest of the World grew 0.3%, having been held back by sluggish market conditions in Japan, it added.
The group said its manufacturing operations performed well, with strong digital printing demand boosting sales for the unit by double-digits.
Walker Greenbank said it will issue its results for the year to the end of January in mid-April.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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