6 Feb 2018 07:00
For immediate release | 6 February 2018 |
WALKER GREENBANK PLC
("Walker Greenbank" or the "Company")
Full Year Trading Update
Walker Greenbank PLC (AIM: WGB), the luxury interior furnishings group, is pleased to announce a trading update for the year ended 31 January 2018.
The results for the year are expected to be in line with the Board's expectations.
Group sales for the year are expected to be up 17.9% at £108.9 million (2017: £92.4 million), reflecting the full year contribution from Clarke & Clarke, increased overseas sales from brands and manufacturing, and continued licensing momentum.
Brands
Brand sales including Clarke & Clarke were up 17.9% in reportable currency (up 16.1% in constant currency) compared with the prior year. UK brand sales were up 13.8% and International brand sales were up 23.3% in reportable currency (up 18.9% in constant currency).
Brand sales excluding Clarke & Clarke were down 1.0% in reportable currency (down 2.8% in constant currency) compared with the prior year. UK brand sales were down 6.1% whilst International brand sales were up 5.9% in reportable currency (up 1.6% in constant currency).
Licensing
Licence income performed strongly during the year and was up approximately 21.2% year on year in reportable currency (up 21.2 per cent in constant currency).
Manufacturing
Manufacturing operations benefited from improving order books during the year, with total third party manufacturing sales up 17.5% including good growth in overseas orders. As previously announced, the repair work following a machine fire at the wallpaper factory in Loughborough in December 2017 continues on track for the return of production during the first quarter of the current financial year.
Walker Greenbank intends to announce its final results for the year ended 31 January 2018 on Thursday 5 April 2018.
For further information:
Walker Greenbank PLC | +44 (0) 844 543 4668 |
John Sach, Chief Executive Mike Gant, Chief Financial Officer | |
Investec Bank plc (Nominated Adviser and Broker) | +44 (0) 20 7597 5970 |
Garry Levin / David Anderson / Alex Wright - Corporate Finance | |
Henry Reast - Corporate Broking | |
Buchanan | +44 (0) 20 7466 5000 |
Mark Court / Sophie Wills / Catriona Flint |
Notes for editors:
About Walker Greenbank
Walker Greenbank PLC is a luxury interior furnishings company that designs, manufactures and markets wallpapers, fabrics and paints. In addition, the Company derives significant licensing income from the use of its designs on a wide range of interior products such as bed linen, rugs and tableware.
Walker Greenbank's brands include Sanderson, Morris & Co, Harlequin, Zoffany, Scion, Anthology, Clarke & Clarke and Studio G.
The Company has a strong UK manufacturing base comprising a wallpaper factory in Loughborough and a fabric printing factory in Lancaster. Both factories manufacture for the Company and for other wallpaper and fabric brands.
Walker Greenbank employs more than 600 people and its products are sold in more than 85 countries worldwide. It has showrooms in London, New York, Chicago, Paris, Amsterdam and Dubai along with partnership showrooms in Moscow and in Shenzhen, China.
Walker Greenbank trades on the AIM market of the London Stock Exchange under the ticker symbol WGB.
For further information please visit: www.walkergreenbank.com/