viewWalker Greenbank PLC

Walker Greenbank lifts profit forecast to finish year in style


Luxury wallpaper and fabric specialist Walker Greenbank (LON:WGB) has upped its full-year profit forecast after a new brand of textured wall-coverings took off.

The group said the introduction of its Anthology brand helped total brand sales rise 8.2% in the year to January.

As a result, sales for the year are expected to be up 6.4% on the previous year at £83mln, while adjusted profit before tax is predicted to be at the top end of analysts' forecasts.

Sales in the UK, the company's largest market, grew 10.3%.

US brand sales jumped 5.1% in constant currency terms with an 11.4% rise in Western Europe.

At the half-year, Walker reported  a 7% rise in adjusted profit before tax to £3.28mln.

John Sach, chief executive, said the company's manufacturing operations performed well, with strong demand for digital printing contributing to double-digit sales growth.

Investec analysts said the momentum in trading gives confidence for the year ahead.

“The group continues to invest in the proposition, such as international showrooms, as well as new techniques such as digital printing, which in our view allow it to maintain its competitive edge.”

The broker upgraded its share price target to 218p.” Shares gained 4p to reach 200p.

Quick facts: Walker Greenbank PLC

Price: 78 GBX

Market: AIM
Market Cap: £55.37 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...


Technology Metals Australia fully funded through to development decision on...

Technology Metals Australia Ltd's (ASX:TMT) Ian Prentice speaks to Proactive's Andrew Scott soon after launching a share purchase plan to raise up to $2 million. It's on the same terms as the recent placement for institutional and sophisticated investors for which total commitments of $8 million...

37 minutes ago

2 min read