Vintage wallpaper boost for Sanderson owner

By This Is Money
Updated: 11:07 EDT, 12 April 2011

The owner of quintessentially English wallpaper brand Sanderson said a retro range to celebrate its 150th anniversary proved a hit at home and overseas and helped put the group 'fully back on track'.

Walker: Its products are stocked in John Lewis and other stores

Sales of Sanderson products leapt 17%, helped by the launch of the Vintage Fabrics and Wallpaper collection, which revived classic designs from between the 1890s and 1990s.

It coincided with a London exhibition called Very Sanderson - 150 Years of English Decoration, which raised the profile of the brand.

Walker Greenbank, which also owns fabric and wallpaper brands Morris & Co, Zoffany and Harlequin, said underlying profits increased 77% to £4.5m in the 12 months to January 31, marking a recovery after two years of declines.

In the UK, which is Walker's largest market, retail income was up 13% to £28m, led by the Sanderson brand, while strong demand from markets such as China, Russia and South America pushed overseas sales up 9%.

The Milton Keynes-based firm has attributed its sales rise to people staying in more and entertaining guests at home. Walker's wallpaper and printed fabrics have become increasingly fashionable as people add more colour to their homes and move away from the plain, beige styles that have dominated in recent years, said a spokesman.

The company, whose products are stocked in John Lewis and other stores, said group sales increased 14% to £68.8m in the year following a significant improvement in demand for its luxury brand Zoffany, which makes wallpaper, carpet and furniture.

Its manufacturing business, which has sites in Lancaster and Loughborough, benefited as customers replenished their order books after cutting back in the recession.

Describing its performance as excellent, the group is confident of another strong period ahead, after brand sales rose 8% in the first 10 weeks of the year. It also has plans to celebrate the 150th anniversary of Morris & Co.

Walker, which has showrooms in Chelsea Harbour in London and at the D&D Building in New York, reported that bottom-line pre-tax profits increased by 188% to £4.5m.

Freddie George, an analyst at Seymour Pierce, said the results were marginally better than he expected, and predicted the company will grow its earnings by about 10% a year for the next three years.