Walker Greenbank PLC (AIM: WGB), the international luxury interior furnishings group, is pleased to announce its financial results for the 12 month period ended 31 January 2018.
Highlights
- Sales up 17.7% to £108.8 million (2017: £92.4 million)
- Total statutory profit from operations up 78.6% to £14.0 million (2017: £7.9 million) due to a full year’s earnings contribution from Clarke & Clarke
- Adjusted underlying profit before tax* up 20.2% at £12.5 million (2017: £10.4 million)
- Licensing income up 21.6% in constant currency at £3.1 million as a result of range extensions into new product categories
- Underlying profit from operations** up 25.8% to £12.4 million (2017: £9.8 million)
- Adjusted earnings per share* up 6.2% at 14.52p per share (2017: 13.67p per share)
- Final dividend up 20.3% to 3.68p per share (2017: 3.06p per share), giving a total dividend up 21.1% at 4.37p per share (2017: 3.61p per share)
- Launch of in-house paint tinting and distribution for our Sanderson and Zoffany brands in partnership with global paint manufacturer PPG
- Direct business model launched in Moscow in February 2018, including a new showroom, with Germany to follow in H1 2018
* Excludes accounting charges relating to share-based incentives, defined benefit pension charge and non-underlying items.
** Excludes acquisition costs, Standfast flood-related costs and restructuring and reorganisation costs.
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