Walker Greenbank full year results seen in line with expectations

AIM-listed luxury interior furnishings group Walker Greenbank said on Tuesday that its results for the year should be in line with the board's expectations.

In an update for the year to the end of January 2018, the group said sales are expected to be up 18% at £108.9m thanks to the contribution from Clarke & Clarke, increased overseas sales from brands and manufacturing and continued licensing momentum.

Including Clarke & Clarke, brand sales rose 18% in reportable currency and 16.1% at constant currency compared to the previous year, while UK brand sales were 13.8% higher and international brand sales were up 23.3%.

Excluding Clarke & Clarke, brand sales were down 1% in reportable currency or 2.8% lower at constant currency. UK brand sales were down 6.1% and international brand sales were up 5.9%.

Licence income was up around 21.2% on the year in reportable currency or 21.2% at constant currency, while total third-party manufacturing sales rose 17.5% including good growth in overseas orders.

Walker Greenbank said repair work following a machine fire at the wallpaper factory in Loughborough in December 2017 is on track for the return of production during the first quarter of this year.

At 1100 GMT, the shares were up 1.2% to 132p.