Walker Greenbank (AIM: WGB) – Positive trading update and valuation still looks interesting
The luxury interior furnishings group whose brands include Sanderson, Morris & Co, Harlequin, Zoffany and Scion announced yet another positive trading update. The shares have had terrific momentum in 2012.
The Company issued a solid trading statement with total brand sales up 4% from H1 2011. Western Europe has shown a 12% decrease in sales (in reportable currency, -6% in constant currency) but this has been offset by a strong sales increase of 6% in the UK. Strong international market demand has seen sales in the U.S up 18%, Russian sales up 10% and Far East sales up 13%.
The Company launched The Scion brand…
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