Luxury interior furnishings group Walker Greenbank witnessed a 5.4% year-on-year uptick in sales to £87.8m and a pre-tax profit rise of 10% to £8.95m for the 12 months ended 31 January 2016.
Within the UK, the businesses largest market, sales increased by 3.9% to £40m, with both retail and contract divisions performing well.
The business, which owns the Sanderson, Morris & Co., Harlequin, Zoffany and Scion brands, claimed the growth in financials had been driven by significant progress with market penetration through the development of the fourth collection from the Anthology brand, as well as progressing with its digital sales and marketing strategy, including e-commerce development.
During the year under review its Standfast & Barracks Lancaster-based manufacturing facility was disrupted by floods, which had an adverse impact on factory and brand sales. An interim insurance payment of £8m was received after the financial year end and the majority of the factory’s total printing capacity is now back on line.
Terry Stannard, the group’s chairman, commented on the results: “Whilst sales continue to be impacted by last year’s flood the consequential loss of profits will be mitigated by our insurance policy.
“In the first nine weeks of the current year, Brand sales are up 0.9% in reportable currency, down 0.7% in constant currency, reflecting the impact of the flood and strong comparators last year, particularly in UK contract sales.
“Brand sales in the UK are down 3.8% in the first nine weeks whereas overseas Brand sales are up 8.7% in reportable currency, up 4.1% in constant currency.”