14th Oct 2015 09:28
LONDON (Alliance News) - Walker Greenbank PLC on Wednesday reported growth in profit in the first half of its financial year boosted by strong sales in its Brands and Manufacturing divisions, and said it is confident it will meet expectations for the full year.
The interior furnishings group reported growth of more than a quarter in pretax profit in the six months ended July 31 to GBP2.9 million from GBP2.3 million, as revenue rose 11% to GBP45.8 million from GBP41.1 million.
Of this, total Brand sales increased 8.8%, rising 7.6% in the UK and 12% overseas. Total manufacturing sales, meanwhile, grew 8.2%.
Walker will pay an interim dividend of 0.44 pence, up from the 0.35p paid last year.
"Brand sales in the first ten weeks of the second half are up 7.5% in reportable currency compared with the same period last year. This is an encouraging performance ahead of our key Autumn selling period and reflects strong trading in the UK, where Brand sales are up 7.5%, and in overseas markets, where Brand sales are up 8.5% in constant currency. Manufacturing also continues to perform strongly. The board remains confident of meeting expectations for the full year," Chairman Terry Stannard said in a statement.
Shares in Walker Greenbank were trading down 0.2% at 202.15 pence Wednesday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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