News blog

Walker Greenbank

• BY: Andrew Hore |
• POSTED: 23/07/2008 |
• COMMENTS: Add yours

Walker Greenbank continues to grow its sales.

The interior furnishings supplier says that sales should be at least 5% ahead in the six months to July 2008. The company has managed this because its brands, including Sanderson, Morris and Zoffany, are more up market and two-fifths of sales are in the contract sector or overseas, where the business is still relatively small.

If trading continues this way then the company will meet its profit expectations. Landsbanki forecasts profits of £4.1m for the year – an underlying improvement of 16%. The shares edged up 0.5p to 24.75p, which puts the shares on less than five times forecast earnings. Walker Greenbank is valued at £14.6m.

Walker Greenbank is cash generative and is expected to reduce its net debt from £7.3m to £5m by the end of January 2009.

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