11 Nov 2014 07:00
For immediate release | 11 November 2014 |
WALKER GREENBANK PLC
("Walker Greenbank" or "the Company")
Further Investment in Digital Fabric Printing
Walker Greenbank PLC (AIM: WGB), the luxury interior furnishings group whose brands include Sanderson, Morris & Co., Harlequin, Zoffany, Scion and Anthology, announces that it has commissioned a third fast-run digital printer at its fabric printing factory in Lancaster and extended its digital print room to accommodate further potential expansion in digital printing capacity.
The third fast-run digital printer was ordered and installed ahead of plan owing to the very rapid growth in demand for digital fabric printing from the Company's own brands, from third-party furnishings companies and from premium UK apparel brands.
The newly extended digital print room totals 400 sq m and is located within the existing Lancaster fabric printing factory. The print room houses seven digital print machines, including three of the latest generation fast-run machines, and has the capacity to accommodate further digital equipment. The total cost of the print room extension and third digital printer was approximately £500,000.
In the half year to 31 July 2014, Walker Greenbank's manufacturing sales for digitally printed fabric were £2.4 million, up almost 40% on the corresponding half year. This rapid growth reflects the benefits of digitally printing fabric compared with traditional techniques including the ability to produce short print runs economically and to produce large multi-colour designs.
John Sach, Walker Greenbank's Chief Executive, said: "Investment in our fabric printing factory in Lancaster and in our wallpaper printing factory in Loughborough is an important part of Walker Greenbank's growth strategy. We have been particularly pleased with the success of digital fabric printing and by the volume of orders from third parties, some of whom are driven by the desire to onshore their fabric printing."
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/