C&C drives Walker Greenbank growth
Furnishings group Walker Greenbank has seen sales soar following its purchase of Clarke & Clarke.
The group paid an initial £25m for the brand last October, with a further £17.5 dependent of performance.
Including Clarke & Clarke, which had sales of £22.4m in 2015, group sales were up 35.6% in the six months to 31 July.
On a like-for-like basis, brand sales excluding Clarke & Clarke were up 3.6% in reportable currency and up 0.5% in constant currency.
However UK sales dropped by 1.8% while European and US sales were 11.9% and 12.9% higher respectively in reportable currency and 3.3% and 2.7% in constant currency.
Licence income has continued to perform strongly in the half year and is expected to be up by about 21% in reportable currency, 18% in constant currency compared with the same period last year. This growth has been driven by the new licensing agreements signed in the prior financial year relating to blinds in the UK and bedding in the US and Asia.
The company's manufacturing operations have benefited in the half year from improving order books, driven by digital printing and an increase in orders from both new and existing third party customers.