Walker Greenbank receives £1.5m insurance payment

Company News

Walker Greenbank receives £1.5m insurance payment

Thu, 20 April 2017
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Walker Greenbank Quote more

Price: 238.50

Chg: -0.50

Chg %: -0.21%

Date: 16:50

FTSE AIM All-Share Quote

Price: 994.67 Chg: 2.94 Chg %: 0.30% Date: 17:09

(ShareCast News) - AIM-listed luxury interior furnishings group Walker Greenbank has received a further interim insurance payment of £1.5m following the flood in December 2015 at its fabric printing factory in Lancaser, Standfast & Barracks.

In total, £16.9m of flood-related insurance payments have now been received in respect of damage to business assets and loss of profits.

"With the factory having been back in full production for some time and the company's Milton Keynes warehouse being fully stocked with printed textiles, the company will be seeking to negotiate a final settlement of the insurance claim with its insurers. It is expected that a settlement will be agreed during the first half of the current financial year."

At 0855 BST, the shares were up 0.9% to 215.50p.

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