27 Jun 2018 07:00
For immediate release | 27 June 2018 |
WALKER GREENBANK PLC
("Walker Greenbank" or "the Company")
AGM Statement
Walker Greenbank PLC (AIM: WGB), the luxury interior furnishings group, will hold its Annual General Meeting ("AGM") in London this morning.
At the AGM, Terry Stannard, Walker Greenbank's Chairman, will make the following statement:
"Trading in the financial year continues to reflect a difficult marketplace though we have recently seen an improving trend in some geographies including the UK and the US, our two largest markets.
"Brand sales in the first four and a half months of the financial year were down 6.0 per cent in the UK and down 1.9 per cent overseas in constant currency, down 3.8 per cent in reportable currency. Our high margin licence income continues to perform strongly and we are encouraged by the potential of recent licence agreements.
"The out-turn for the full year remains in line with Board expectations and anticipates a further improvement in trading in our traditionally stronger second half and additional momentum in licence income generated from recently signed agreements."
For further information:
Walker Greenbank PLC | +44 (0) 1895 221068 |
John Sach, Chief Executive Mike Gant, Chief Financial Officer | |
Caroline Geary, Company Secretary | |
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, 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 a partnership showroom 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
WGB.L (WGB)