Western Europe slows Walker Greenbank's growth

Upmarket wallpaper and fabrics maker Walker Greenbank saw sales growth slowed by Western Europe's economic problems, suggesting even the rich are being hit by the Eurozone's woes.

The luxury interior furnishings group expects profit before tax for the half year to be in line with internal projections, pushed higher by total brand sales and a strong performance from its manufacturing operations.

Brand sales grew six per cent during the half year, although in Western Europe decreased 12 per cent in reportable currency and 6 per cent at constant currency.

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Overall, brand sales increased by four per cent.

Earlier in the year the company announced it had seen the first significant growth since 2008 in the US where brands sales in the half year were up 22% in reportable currency and up 18% at constant currency. Other international progress includes the Far East, where brand sales were up 13%, and Russia, up 10%.

The share price fell 0.67% to 74.25p by 10:03.

NR