Walker Greenbank posts rise in pre-tax profits in three markets

Joseph Millis
FURNITURE maker Walker Greenbank yesterday announced that its first-half, pre-tax profits rose from £2m to £2.3m on the back of strong performances in its three main markets – the UK, Europe and the US.

In the UK, the firm’s main market, sales grew 10 per cent year-on-year, while they rose 12.2 per cent in constant currency in Europe and three per cent in the US, despite the disruption in sales due to the expansion of a new flagship showroom in New York.

“Total brand sales in the first eight weeks of the second half are up an encouraging 5.4 per cent in report­able currency [seven per cent in constant currency] compared with the same period last year,” group chairman Terry Stannard said.

“This is a robust performance ahead of our key autumn selling period”, adding that “manufacturing also continues to perform strongly.”

Revenue rose from £39.1m to £41.1m, while Walker announced a 25 per cent increase to 35p on its proposed interim dividend.

Walker shares closed 0.73 per cent up to 208p.