WGB announced its pre-close trading update for the six months ended 31 July 2018. Licensing income grew 40.4% in reportable currency compared to first half last year driven by apparel and a strong performance from Japanese licensees.
WGB has signed new licence agreements in first half this year and expects the licensing income in the current financial year to substantially increase compared to last year. Third-party sales in manufacturing grew 11.1% in H1 helped by strong export growth.
WGB’s total Brand sales declined 5.7% in reportable currency (down 5.1% in constant currency) compared to first half last year. UK Brand sales declined 6.8%, US Brand sales declined 1.6% and international brand sales declined 4.4% in reportable currency for the period. The board’s outlook for the full year remains unchanged following the trading update, and it expects adjusted profit before tax for the year ending 31 January 2019 to be in range of £9.5m-£10.0m.