Walker Greenbank sitting pretty as profits rise

Published on Thursday 2 October 2008 21:44

SMALL BUT BEAUTIFUL

WALKER Greenbank, the furnishings group, yesterday reported a 23 per cent rise in interim profits to 1.7 million.

In the six months to 31 July, the company's turnover reached 33m, up from 30.8m in the same period last year.

The group said that all of its brands – which include Harlequin, Morris & Co, Sanderson and Zoffany – had "performed strongly".

Brand sales increased by 8 per cent in the UK retail market, while sales in Europe rose by 16 per cent – or 4 per cent in local currency – and sales in the rest of the world rose by 34 per cent.

Ian Kirkham, chairman of Walker Greenbank, said: "We currently expect to be in line with market expectations for the full year, dependent on the key autumn selling period."

Walker Greenbank, which has a market cap of about 13m, was formed in 1986 and transferred from the main market to the Alternative Investment Market in 2003.

Kirkham added: "Anstey, our wallpaper factory in Loughborough, continues to benefit from the growing popularity of wallpaper. Standfast, our fabric printing factory based in Lancaster, continues to invest in efficient equipment."