Walker Greenbank: 1H Profit Significantly Ahead Of Expectations

28th Jul 2010 07:58

LONDON (Dow Jones)--Luxury furnishings company Walker Greenbank PLC (WGB.LN) Wednesday said first-half pretax profit is expected to nearly quadruple on the year, boosted by a return to growth of its premium brand Zoffany. The firm said it performed "significantly ahead" of management expectations during the six months to July 31. It expects to make a half-year pretax profit of more than GBP2 million, up from GBP570,000 in the fiscal 2009 first half. Sales will total at least GBP33 million, a 13% jump from GBP29 million of sales a year earlier. Walker Greenbank said its mid-market brands Harlequin and Sanderson remained its best-selling brands in the period, continuing the trend seen last year. Sanderson sales were boosted by the brand's 150th anniversary and by the appeal of recently-launched collections, the company said. Walker Greenbank also prints fabrics and makes wallpaper, and said order intake had been good, boosted by customers restocking. -By Hannah Benjamin, Dow Jones Newswires; 44-20-7842-9298; [email protected] (END) Dow Jones Newswires July 28, 2010 02:58 ET (06:58 GMT)