Overseas sales boost Walker Greenback

LUXURY wallpaper and soft furnishings group Walker Greenbank yesterday reported a 13 per cent rise in profits thanks to expanding international sales.

The group held two big launches early in the year for Morris & Co and the Harlequin Momentum collection, which fuelled a rise in sales.

Group revenues rose 11 per cent to £37.4m, with pre-tax profits up to £2m.

Russia, Japan and China were the fastest growing markets for the company, which employs 300 people.

City analysts raised their forecasts for the full year to next January and the following year.

Chief executive John Sachs said the group had kicked off the autumn selling season – when people redecorate in time for Christmas – confident of another strong year.

The company said it had invested in technology to improve its production processes. It raised its dividend from 0.15p to 0.20p a share.