Walker Greenbank (WGB) had only just fully recovered after its 2015 flooding disaster when management warned that it expects full-year profits to miss market expectations by around 10 per cent. The shares fell by more than a quarter on the day of the announcement.
At the half-year results in October 2016 the interior furnishings company reported that orders were ahead of last year, but this has since reversed. Management is now looking beyond the UK, Walker Greenbank’s largest market, towards its international business, where sales are currently ahead of last year. At the half-year results management said it was aiming to generate 60 per cent of group sales from international markets within the next three to five years, up from 46 per cent. Licensing sales have also been growing. Income from this division is expected to be up by around 15 per cent on a like-for-like basis.
