- Luxury furniture company Walker Greenbank said it expected to eke out a modest increase in sales amid a challenging UK retail environment.

Sales for the year through January were expected to rise 1.1% to £113.3m.

The performance reflected a generally difficult marketplace, offset by increased overseas third-party manufacturing orders, and a 'very strong' performance from licensing, the company said.

'As the company commences its new financial year our core market in the UK remains both challenging and uncertain and the trend in brand product sales remains unchanged,' it added.

'The focus of the company is to seek to mitigate some of the impact of this difficult trading environment through cost saving initiatives.'

Walker Greenbank said the recruitment of a new chief executive was 'progressing well', with a further announcing to be made in due course.

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