Walker Greenbank expects to beat top end of forecasts

Luxury interior furnishings group Walker Greenbank said it expects pre-tax profits for the year to be ahead of the top end of analyst forecasts, following a good first half performance.

The group, which designs and manufactures fabrics, wallpapers and furnishings and whose brands include Sanderson and Morris & Co, said group sales are expected to rise 2.3% on the previous year at £75.7m.

Brand revenue is expected to be up 2.5%, following a robust overall performance and strong growth in certain international markets including the US, where brand sales were up 17.6% or 16.7% at constant currency.

Licence income, which reflects the brands' use in lifestyle products such as bedlinen, rugs, tableware, lighting and stationery, is expected to be up 17%.

Walker Greenbank said its manufacturing operations also performed well, boosted by growth in international markets.

CJ