Walker Greenbank on a roll as international demand grows

published 17 April 2012

Luxury interior furnishings group Walker Greenbank unveiled a solid set of full year results, helped by a strong international performance, and is confident for the year ahead.

Sales in the first eleven weeks of the current year rose 7% from the same period last year as demand for its expanding range of luxury goods grew.

The fabrics group, whose brands include Sanderson, Morris & Co., Harlequin, Zoffany and Scion, said its brand sales grew by 7.3% to £57.4m with international sales up by 11% to £22m.

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UK sales, its largest market, grew 4.6% to £33.8m while its global licence income climbed 11%, led by Japan and its UK bed linen licensee.

The firm, which recently announced it has won a contract with British clothing brand Barbour, said pre-tax profit rose to £4.9m for the year ended 31 January 2012 from £4.5m the same time a year earlier. Operating profits before exceptional gain rose 24% to £5.56m while overall revenue for the period rose to £74m from £68.78m before.

Licensing income rose 11% to £1.59m and it is signed new licence agreements signed with tableware firm Portmeirion rugs group Brink & Campman.

Chairman Terry Stannard said, "These results demonstrate further progress towards our vision of creating a highly profitable international luxury brands group. We have built strong market positions in our core sectors of wallpaper and fabrics and our brands have stretched into lifestyle categories such as rugs, tableware and lighting through our worldwide licence partners."

The final dividend has been increased 25% to 1p per share, giving a total dividend of 1.20p per share compared to 0.95p in 2011.