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Walker Greenbank
- BY: Andrew Hore |
- POSTED: 04/02/2009 |
Walker Greenbank says that strong cash flow has reduced its debt by more than expected.
House broker Teathers believes that the interior furnishings business believes that better working capital management since July 2008 could have cut net debt by £3m to £6.3m at the end of January 2009.
Profits for the year to January 2009 will be in line with the December 2008 downgrade to £3.2m, down from £3.5m last year. The current year’s profits are expected to be flat.
Shares in Walker Greenbank recovered 2.25p to 12.5p each, which values the company at £7.38m. The shares are trading on three times estimated earnings.
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