Commissioning of Digital Printer

RNS Number : 3375T

Walker Greenbank PLC

19 November 2013

 



For immediate release

19 November 2013

WALKER GREENBANK PLC

("Walker Greenbank" or "the Company")

Commissioning of Fast-Run Digital Printer

Walker Greenbank PLC (AIM: WGB), the luxury interior furnishings group whose brands include Sanderson, Morris & Co., Harlequin, Zoffany and Scion, announces that it has successfully commissioned a second fast-run digital printer at its fabric printing factory in Lancaster.

This digital printer, which cost approximately £350,000, was ordered a year ahead of plan following the very rapid uptake in demand for digital fabric printing at the Lancaster factory, where the first fast-run digital printer was installed during 2012.

Walker Greenbank has seen a dramatically accelerating demand for digital fabric printing in the past few years. In the year ending January 2011, the Company's digital fabric printing contributed sales of just £0.5 million, increasing to £1.7 million in the year ending January 2013. During the first half of the current financial year, digital fabric printing sales were up 121% at £1.7 million, equivalent to the entire previous year's sales.

The new fast-run machine will provide additional capacity to satisfy demand from third party customers and the Company's own brands. The Company is currently exploring the possibility of digitally printing fabric for premium UK fashion brands, particularly those that wish to bring their fabric printing onshore.

Digital fabric printing has benefits compared with traditional techniques, including the ability to create very large, multi-coloured designs and to produce short print runs economically.

This latest investment in Lancaster is in line with Walker Greenbank's strategy of continued investment in its manufacturing capabilities.

John Sach, Walker Greenbank's Chief Executive, said: "The rapid growth in demand for digitally printed fabric has prompted us to acquire a second fast-run printer at the Lancaster site ahead of our initial plans. During the first six months of the current year our revenues from digital fabric printing were the same as in the 12 months of the previous year, highlighting the rapid adoption of digital printing as a highly attractive technique to produce quality fabrics."

For further information:

Walker Greenbank PLC	[phone]
John Sach, Chief Executive
Caroline Geary, Company Secretary
Investec Bank plc	[phone]
Garry Levin - Nominated Adviser
Henry Reast - Corporate Broking
Buchanan	[phone]
Mark Court / Fiona Henson / Sophie Cowles

 

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