Walker Greenbank PLC Trading Update (5185W)
15 November 2017 - 6:01PM
UK Regulatory
TIDMWGB
RNS Number : 5185W
Walker Greenbank PLC
15 November 2017
For immediate release 15 November 2017
WALKER GREENBANK PLC
("Walker Greenbank" or the "Company")
Trading Update
Walker Greenbank PLC (AIM: WGB), the luxury interior furnishings
group, announces the following update on trading in respect of the
financial year ending 31 January 2018.
In its interim results announcement on 4 October 2017, the
Company stated that order intake was growing ahead of last year and
on an improving trend in the run-up to the key autumn selling
period. Since that announcement, momentum in order intake has not
been sustained and Brand sales in the UK, excluding Clarke &
Clarke, have weakened significantly against management's
expectations.
The Company is more than half way through the key autumn selling
period and, owing to the disappointing UK Brand sales and knock-on
effect on manufacturing, the Board now expects that profits for the
year ending 31 January 2018 are likely to be approximately 10 per
cent lower than its expectations.
Whilst the UK remains Walker Greenbank's largest market, the
Board is focused on driving the Company's international business
where Brand sales are ahead of the same period last year. Licensing
income continues to grow strongly and the Board expects full year
licensing income to be up approximately 15 per cent on a
like-for-like basis, in line with its expectations.
The Company will provide a further update on performance for the
year ending 31 January 2018 in its full year trading statement
expected to be issued in early February 2018.
For further information:
+44 (0) 844 543
Walker Greenbank PLC 4668
John Sach, Chief Executive
Mike Gant, Chief Financial Officer
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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