Walker Greenbank PLC AGM Statement (6612I)
June 21 2017 - 2:00AM
UK Regulatory
TIDMWGB
RNS Number : 6612I
Walker Greenbank PLC
21 June 2017
For immediate release 21 June 2017
WALKER GREENBANK PLC
("Walker Greenbank" or the "Company")
AGM Statement
Walker Greenbank PLC (AIM: WGB), the luxury interior furnishings
group, will hold its Annual General Meeting ("AGM") in London this
morning.
At the AGM, Terry Stannard, Walker Greenbank's Chairman, will
make the following statement:
"In the first four-and-a-half months of the current financial
year, Brand sales were up 4.5% in reportable currency and up 1.1%
in constant currency, with sales in Europe and the USA
outperforming the UK, where sales were in line with the same period
last year. Brand sales exclude Clarke & Clarke, which continues
to trade in line with the Board's expectations and remains an
exciting addition to our product portfolio.
"Licence income continues to perform strongly, and is benefiting
from the new licensing agreements signed in the prior financial
year.
"Our two manufacturing sites both have improving order books and
have recently started to print for the Clarke & Clarke and
Studio G brands. There has been a noticeable increase in export
orders from new customers at both sites, though it is too early to
predict the strength of this trend.
"We are pleased to announce today the final settlement of our
insurance claim following the flood at our fabric printing factory
in December 2015. We expect to receive the final payment of GBP2.4
million by our half-year end, bringing the total amount received in
respect of the claim to GBP19.3 million.
"The current financial year is set to mark a step change in
Walker Greenbank's financial performance as it will include a full
year's contribution from the Clarke & Clarke acquisition.
Whilst today's AGM comes at a time of political and economic
uncertainty in the UK, at this early stage of our financial year we
continue to expect to meet Board expectations for the full
year."
For further information:
+44 (0) 844 543
Walker Greenbank PLC 4668
John Sach, Chief Executive
Mike Gant, Chief Financial Officer
Caroline Geary, Company Secretary
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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