5 Dec 2008 07:00
| For immediate release | 5 December 2008 |
WALKER GREENBANK PLC
("Walker Greenbank" or "the Company")
Trading Update
Walker Greenbank PLC (AIM: WGB), the luxury interior furnishings group whose brands include Sanderson, Morris & Co., Harlequin and Zoffany, stated in its interim results announcement on 2 October 2008 that its full year profits were dependent on the key autumn selling period.
Trading during this selling period has been challenging, reflecting the global macro-economic environment. Total sales for the four months to the end of November 2008 were some 4 per cent below the same period last year. As a result, the Company's adjusted profit before tax for the year to 31 January 2009 is expected to fall materially below the consensus of analyst forecasts. The Board has already identified significant cost savings within the business and is confident that the Company will sustain its profitability during the remainder of the economic downturn.
Walker Greenbank intends to issue a pre-close trading update towards the end of January 2009.
Enquiries:
| Walker Greenbank PLC | +44 (0) 8708 300077 |
| John Sach, Group Chief Executive | |
| Alan Dix, Finance Director | |
| Julian Wilson, Company Secretary | |
| Teathers | +44 (0) 20 7426 9000 |
| Tom Hulme | |
| Buchanan Communications | +44 (0) 20 7466 5000 |
| Mark Court / Miranda Higham |
WGB.L (WGB)