Walker Greenbank increases its 2017 interim dividend by 25.5%

DividendMax Ltd.

Walker Greenbank increases its 2017 interim dividend by 25.5%

Walker Greenbank 2017 interim results

Sales up 29.9% to £54.3 million (H1 2016: £41.8 million) including £10.3 million from Clarke & Clarke, the fabrics and wallpaper business acquired in October 2016

Overseas Brands sales growth and a strong revenue contribution from Clarke & Clarke offset a weaker UK performance

Adjusted underlying profit before tax up 55.3% at £5.9 million (H1 2016: £3.8 million)

Licensing income up 21.1% in reportable currency, 17.9% in constant currency, at £1.3 million driven by new licensing agreements signed in the prior financial year including blinds in the UK and bedding in the US and Asia 

Final settlement of the insurance claim in respect of the flood in December 2015 at Standfast & Barracks. These interim results include the recognition of £1.3 million (H1 2016: £3.3 million) of insurance reimbursements for loss of profits and net proceeds for asset replacement

Underlying profit from operations up 52.8% at £5.5 million (H1 2016: £3.6 million)

Total statutory profit from operations at £4.8 million (H1 2016: £5.3 million) due to acquisition costs

Adjusted earnings per share up 39.4% at 6.86 pence (H1 2016: 4.92 pence)

Interim dividend up 25.5% at 0.69 pence per share (H1 2016: 0.55 pence per share)

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