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10 Apr 2019 | 09:52

Walker Greenbank profit slumps in 'difficult' UK trading environment

Luxury furniture group Walker Greenbank posted a 51% drop in annual profit amid a 'difficult' trading environment in the UK.

Pre-tax profit for the year through January fell to £6.3m, as revenue inched 1% higher to £113.3m and margins shrank.

The company cut its annual dividend by 26% to 3.24p per share.

'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,' chief executive Christopher Rogers said.

'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.'

At 9:52am: (LON:WGB) Walker Greenbank PLC share price was -1p at 56.5p

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