Walker Greenbank posted its final-results for 2018 today. Statutory PBT and PAT were down by 51.4% and 57.1%, respectively. Adjusted underlying EPS fell 26.9% to 10.80p, while net debt stood at £0.4m. The total dividend of 3.24p (FY 2018: 4.37p) reflects the subsequent reduction in profits.
Licence income rose 103.1%, following one-off H&M collaboration, while US sales growth were up 9.0% and 7% in constant and reportable currency.
Christopher Rogers, Walker Greenbank’s Interim Executive Chairman, said: “In our international markets trading is marginally ahead of last year whereas in the group’s core market in the UK trading conditions remain challenging and the outlook uncertain. To mitigate difficult trading we remain focused on growing revenue and cost saving initiatives. At this very early stage of the new financial year the group continues to trade in line with the Board’s expectations.”