Walker shrugs off the crunch

Upmarket wallpaper and fabrics maker Walker Greenbank is thriving despite the crunch.

The maker of Sanderson, Morris & Co, Harlequin and Zoffany furnishings said trading was brisk.

Analysts said it highlighted yet again that at the very top end of society people are still not feeling the pinch.

Chairman Ian Kirkham pointed out that the crucial autumn selling season was only just under way, but analysts at Landsbanki said they were pretty confident about the season.

Profits before tax in the six months to 31 July jumped 23% to £1.7 million on sales up 7% to £33 million.

A black spot was the US, where sales fell 1% in the local currency, but these represent less than 13% of group sales.

The focus is on Europe, a faster-growing market, where there is an established demand for wallpaper.