Update re Anstey Wallpaper Company

RNS Number : 9089A

Walker Greenbank PLC

04 January 2018

 

For immediate release

4 January 2018

WALKER GREENBANK PLC

("Walker Greenbank" or the "Company")

Update re Anstey Wallpaper Company

Walker Greenbank PLC (AIM: WGB), the luxury interior furnishings group, provides an update following the announcement on 6 December 2017 regarding a machine fire at the Company's Loughborough wallpaper factory, Anstey Wallpaper Company.

The manufacturer of the fire-damaged embossing machine has been progressing its repair and the machine is expected to be back in production during the first quarter of the Company's new financial year ending 31 January 2019. The embossing machine is one of six production lines at the factory; the other five lines were unaffected by the fire. Orders that were planned to be printed on the machine will now be delayed into the new financial year.

As previously announced, the maximum potential impact on profitability in the current financial year is expected to be less than £0.5m.

The repair to the embossing machine, and fire damage to a small amount of stock, is covered by the Company's comprehensive insurance policy.

For further information:

Walker Greenbank PLC	[phone]
John Sach, Chief Executive Mike Gant, Chief Financial Officer
Investec Bank plc (Nominated Adviser and Broker)	[phone]
Garry Levin / David Anderson / Alex Wright - Corporate Finance
Henry Reast - Corporate Broking
Buchanan	[phone]
Mark Court / Sophie Wills / Catriona Flint

Notes for editors:

About Walker Greenbank

Walker Greenbank PLC is a luxury interior furnishings company that designs, manufactures and markets wallpapers, fabrics and paints. In addition, the Company derives significant licensing income from the use of its designs on a wide range of interior products such as bed linen, rugs and tableware.

Walker Greenbank's brands include Sanderson, Morris & Co, Harlequin, Zoffany, Scion and Anthology. The brand portfolio was extended with the acquisition of the Clarke & Clarke and Studio G brands in October 2016.

The Company has a strong UK manufacturing base comprising a wallpaper factory in Loughborough and a fabric printing factory in Lancaster. Both factories manufacture for the Company and for other wallpaper and fabric brands.

Walker Greenbank employs more than 600 people and its products are sold in more than 85 countries worldwide. It has showrooms in London, New York, Paris, Amsterdam and Dubai along with partnership showrooms in Moscow and in Shenzhen, China.

Walker Greenbank trades on the AIM market of the London Stock Exchange under the ticker symbol WGB.

For further information please visit: www.walkergreenbank.com/

 

END

 

 

MSCBJMPTMBTMBLP