Walker Greenbank PLC Interim Insurance Payment (7387F)
01 August 2016 - 4:00PM
UK Regulatory
TIDMWGB
RNS Number : 7387F
Walker Greenbank PLC
01 August 2016
For immediate release 1 August 2016
WALKER GREENBANK PLC
("Walker Greenbank" or the "Company")
Interim Insurance Payment
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 received a
further interim insurance payment of GBP3.2 million following last
year's flood at Standfast & Barracks, the Company's fabric
printing factory in Lancaster.
This is the second interim insurance payment to be received by
the Company in its ongoing insurance claim following the flood in
December 2015; the first payment of GBP8.0 million was received in
March 2016. A further interim insurance payment of GBP0.8 million
is expected shortly and further payments will be received in due
course.
Full production has almost returned to Standfast & Barracks
and the factory is benefiting from the faster production rates of
the new digital printers installed after the flood. Good progress
is being made in fulfilling the backlog of printed fabric orders,
both for our own brands and third party customers.
This second interim insurance payment is in respect of damage to
business assets and loss of profits. The Company's insurance policy
covers flood damage and business interruption until December
2017.
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 (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 Cowles / Catriona Flint
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 85
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 Group and for other wallpaper and fabric brands. Continued
investment in manufacturing has allowed the Group 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/
This information is provided by RNS
The company news service from the London Stock Exchange
END
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