Interim Insurance Payment

RNS Number : 7858C

Walker Greenbank PLC

20 April 2017

 

For immediate release

20 April 2017

WALKER GREENBANK PLC

("Walker Greenbank" or the "Company")

Interim Insurance Payment 

Walker Greenbank PLC (AIM: WGB), the luxury interior furnishings group, announces that it has received a further interim insurance payment of £1.5 million following the flood in December 2015 at Standfast & Barracks, the Company's fabric printing factory in Lancaster.

In total, £16.9 million of flood-related insurance payments have now been received by the Company in respect of damage to business assets and loss of profits.

With the factory having been back in full production for some time and the Company's Milton Keynes warehouse being fully stocked with printed textiles, the Company will be seeking to negotiate a final settlement of the insurance claim with its insurers. It is expected that a settlement will be agreed during the first half of the current financial year.

For further information:

Walker Greenbank PLC	[phone]
John Sach, Chief Executive Mike Gant, Chief Financial Officer
Caroline Geary, Company Secretary
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 Cowles / 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/

 

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