Walker Greenbank PLC Half Year Trading Update (8064M)
02 August 2017 - 4:00PM
UK Regulatory
TIDMWGB
RNS Number : 8064M
Walker Greenbank PLC
02 August 2017
For immediate release 2 August 2017
WALKER GREENBANK PLC
("Walker Greenbank" or the "Company")
Half Year Trading Update
Walker Greenbank PLC (AIM: WGB), the luxury interior furnishings
group, is pleased to announce its pre-close trading update for the
six months ended 31 July 2017.
Brand sales, including Clarke & Clarke, were up 35.6% in
reportable currency compared with the same period last year,
underlining the step change in the Company's financial performance
following the acquisition of Clarke & Clarke in October last
year.
On a like-for-like basis, Brand sales excluding Clarke &
Clarke were up 3.6% in reportable currency and up 0.5% in constant
currency. In our AGM Statement in June 2017 we indicated that
Europe and the USA were outperforming the UK. This trend has
continued through the half year with Brand sales in Europe and the
USA up 11.9% and 12.9% respectively in reportable currency, up 3.3%
and 2.7% respectively in constant currency, whereas sales in the UK
declined 1.8%.
Licence income has continued to perform strongly in the half
year and is expected to be up by approximately 21.0% in reportable
currency, 18.0% in constant currency compared with the same period
last year. This growth has been driven by the new licensing
agreements signed in the prior financial year relating to blinds in
the UK and bedding in the US and Asia.
As highlighted in June's AGM Statement, the Company's
manufacturing operations have benefited in the half year from
improving order books, driven by digital printing and an increase
in orders from both new and existing third party customers.
The Board continues to expect to meet its full year
expectations.
Walker Greenbank intends to announce its half year results in
early October 2017.
For further information:
+44 (0) 844 543
Walker Greenbank PLC 4668
John Sach, Chief Executive
Mike Gant, Chief Financial Officer
Caroline Geary, Company Secretary
Investec Bank plc (Nominated Adviser +44 (0) 20 7597
and Broker) 5970
Garry Levin / David Anderson /
Alex Wright - Corporate Finance
Henry Reast - Corporate Broking
+44 (0) 20 7466
Buchanan 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, 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 and Anthology. The brand portfolio was
extended with the acquisition of the Clarke & Clarke and Studio
G brands in October 2016.
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, Paris, Amsterdam and Dubai along with partnership
showrooms in Moscow and 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/
This information is provided by RNS
The company news service from the London Stock Exchange
END
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