29th Apr 2014 11:43
LONDON (Alliance News) - Luxury interior furnishings group Walker Greenback PLC Tuesday raised its full-year dividend by 25%, as its pretax profit and revenues increased during in its recent financial year, helped by product launches and expansion both at home and abroad.
The group designs, manufactures and markets wallpapers and fabrics, and owns brands Sanderson, Morris & Co., Harlequin, Zoffany, Scion and Anthology.
Walker Greenback declared a total dividend of 1.85 pence per share for the year ended January 31, as its pretax profit rose to GBP5.5 million from GBP4.9 million the prior year, boosted by a 3.6% increase in revenues to GBP78.4 million from GBP75.7 million.
International sales were up 6.6% during the year at GBP23.8 million, driven by sales in the US. It said international sales represented 39% of own-brand sales for the year.
During the year, the group upped investments, spending a total of GBP4.7 million on capital expenditure, higher than the GBP3.12 it spent a year earlier.
Walker Greenback said the current financial year has started well, with total own-brand sales up 6.7% in the first 12 weeks of the year, driven by 9.4% sales growth in the UK, its largest market.
It said that overseas own-brand sales are up 2.8% on a reported basis and 7.1% in constant currencies.
The group also said that its manufacturing business performed strongly during the 12 week period, driven by digital printing.
Walker Greenback, which also derives significant licensing income from the use of its designs in lifestyle products such as bed linen, rugs and tableware, said that licensing income during the year rose 14% to GBP2.1 million, up from GBP1.9 million the prior year.
"With an improving economic environment, we expect to drive sales growth in both UK and international markets and look forward to the year ahead with confidence," said Chairman Terry Stannard in a statement.
Walker Greenback shares were up 2.1% at 193.00 pence Tuesday early afternoon.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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