Luxury Home Trend Boosts Luxury Wallpaper Firm Walker Greenbank

By Tanya Jefferies and Press Association on

Buoyant sales at the luxury end of the home interiors market have led to record autumn sales and profits for luxury wallpaper firm Walker Greenbank.

Walker's shares leapt 9%, up 3.75p to 44p, after Walker said full-year results were expected to be 'materially ahead' of market forecasts. Analysts on average predict a pretax profit of £4.1m on turnover of £67.5m for the year to January 31.

The company, which sells its brands in John Lewis and has showrooms in Chelsea Harbour in London and at the D&D Building in New York, said this year's Sanderson's Vintage wallpaper collection was particularly successful.  Meanwhile, Walker's wallpaper and fabric printing factories are benefiting from its own strong order books, as well as those of outside clients.

Chief executive John Sach claimed homeowners are investing more in decoration as they opt to stay in and entertain guests rather than dine out at restaurants.  Mr Sach said Walker Greenbank continued to invest in the design of products throughout the recession and this has paid off. 'We have a lot of products to offer and we're servicing our customer needs well,' he commented.  He added that the company is looking to expand overseas, including in China, where he will travel in the coming weeks. Looking ahead, Mr Sach said the company would be nearly debt-free by the end of the year and he expects profitability and investment to be sustained.

The company recently posted pre-tax profits of £2.3m in the six months to July 31, up from £570,000 the previous year. It saw a 15.6% rise in revenues to £33.7m in the same period.  Freddie George, analyst at stockbroker Seymour Pierce, said: 'The autumn selling period appears to have been highly successful helped by positive fashion trend for the company's fabrics and wallpapers.'

Walker's origins can be traced back to 1899, to C&W Walker Holdings, an engineering company which manufactured gas containers. It moved into the furnishings market in 1987.

Find out more about Walker Greenbank Wallpapers.

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Posted by: sserrano
Posted on: 11/29/2010 at 11:22 AM
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Categories: Luxury Real Estate
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