4th Feb 2014 11:33
LONDON (Alliance News) - Luxury interior furnishings group Walker Greenbank PLC Tuesday said adjusted pretax profit for the year ended January 31, is expected to be ahead of the top end of analyst forecasts, following a strong second-half.
The company, which operates through brands including Sanderson, Morris & Co., Harlequin, Zoffany and Scion said group sales are expected to be up 3.4% on the previous year at GBP78 million.
Total brand sales were up 3.3% during the year, compared with 2.2% in the first-half, assisted by licence income from lifestyle products such as bedlinen, rugs, towels and tableware.
Brand sales grew by 8.3% in the US and 9.1% in Western Europe in reportable currency - 6.8% and 4.8%, respectively, in constant currency.
"Encouragingly, brand sales in the UK, the company's largest market, returned to growth in the second half delivering growth of 0.6% during the year," Walker Greenbank said.
The firm said its manufacturing operations have also performed well, with rapid growth in digitally printed fabric and wallpaper.
Investment in manufacturing during the year included a new hybrid rotary gravure machine at the wallpaper factory in Loughborough and a second high speed digital printer at the fabric factory in Lancaster.
Rotogravure also known as gravure is a type of intaglio printing process, which involves engraving the image onto an image carrier.
Walker Greenbank intends to issue its full-year results on April 29.
The stock was trading at 168.00 pence Tuesday morning, up 2.50 pence or 1.5%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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