4 Feb 2015 07:00
For immediate release | 4 February 2015 |
WALKER GREENBANK PLC
("Walker Greenbank" or "the Company")
Full Year Trading Update
Walker Greenbank PLC (AIM: WGB), the luxury interior furnishings group whose brands include Sanderson, Morris & Co., Harlequin, Zoffany, Scion and Anthology, announces its pre-close trading update for the year ended 31 January 2015.
The Company has continued to perform well following the announcement of its half year results in October. Group sales for the year are expected to be up 6.4% on the previous year at £83 million and adjusted profit before tax is expected to be at the top end of analysts' forecasts.
Total brand sales during the year were up 8.2% in constant currency (6.7% in reportable currency) helped by strong growth in the contracts division and by an encouraging contribution from the Company's newest brand, Anthology, which has performed particularly strongly in overseas markets. During 2015, it is intended to develop Anthology fabrics to complement the brand's wallpapers.
The Board is pleased to report a continued strong sales performance in the UK, the Company's largest market, where brand sales grew 10.3%.
In the US, brand sales grew 5.1% in constant currency and in Western Europe 11.4% (1.0% and 5.0% respectively in reportable currency). Brand sales in the Rest of the World grew 1.0% in constant currency (down 0.3% in reportable currency), held back by market conditions in Japan.
The Company's manufacturing operations have performed well, with strong demand for digital printing contributing to double-digit sales growth.
Walker Greenbank intends to issue its preliminary results in mid-April 2015.
For further information:
Walker Greenbank PLC | +44 (0) 844 543 4668 |
John Sach, Chief Executive Mike Gant, Chief Financial Officer | |
Caroline Geary, Company Secretary | |
Investec Bank plc | +44 (0) 20 7597 5970 |
Garry Levin / David Anderson - Nominated Adviser | |
Henry Reast - Corporate Broking | |
Buchanan | +44 (0) 20 7466 5000 |
Mark Court / Helen Chan / Sophie Cowles |
Notes for editors:
About Walker Greenbank
Walker Greenbank PLC is a luxury interior furnishings company that designs, manufactures and markets wallpapers and fabrics together with a wide range of ancillary interior products. The Company's brand portfolio - comprising Sanderson, Morris & Co, Harlequin, Zoffany, Scion and Anthology - spans heritage and contemporary design and its products are sold in more than 75 countries worldwide. The Company derives significant licensing income from the use of its designs in lifestyle products such as bed linen, rugs and tableware.
The Company employs more than 600 people and has showrooms in London, New York, Paris, Amsterdam and Dubai along with partnership showrooms in Moscow and in Shenzhen, China. Its UK manufacturing base, which includes a wallpaper factory in Loughborough and a fabric printing factory in Lancaster, manufactures product both for the Company and for other wallpaper and fabric brands. Continued investment in manufacturing has allowed the Company to offer a wide range of printing techniques.
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/