Strong cash generation has helped interior furnishings supplier Walker Greenbank to almost halve its net debt by the end of January 2010.
Net debt has fallen from £6.2m to £3.2m over the 12 month period. Profits will be in line with expectations following the December trading statement. House broker Arden forecasts profits of £2.3m for 2009-10, rising to £3m in 2010-11.
At 22.5p a share, Walker Greenbank is valued at £13.1m. The shares are trading on less than eight times 2009-10 earnings.
Full year figures will be published on 14 April.
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