Walker Greenbank enjoys positive first-half thanks to strong market growth

4th Aug 2015 11:10

(ShareCast News) - Wallpaper and fabrics designer Walker Greenbank enjoyed a solid first half performance in the UK and US thanks to strong growth in its manufacturing operations and digital printing business.The interior furnishing company saw its brand sales rise 8.4% in reportable currency and 9.1% in constant currency for the six months ended 31 july 2015.UK sales rose 6.8% and overseas sales increased 12.7% in constant currency. The US market also reported good growth with sales increasing 18.6% in constant currency.As a result, the group said it remains confident in the outlook for the full-year.WH Ireland analysts maintained their 'buy' recommendation and raised their share price target to 250p from 240p. They said: "Whilst the shares have performed well in recent months and may consolidate at current levels in the short-term, the positioning of the group and long-term growth potential fully justifies the premium rating in our view."Shares rose 1.81% to 236.2p on Tuesday at 09:30.