Proactiveinvestors United Kingdom Portmeirion https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Portmeirion RSS feed en Mon, 20 May 2019 16:03:18 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20190517163757_14079073/ Fri, 17 May 2019 16:37:57 +0100 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20190517163757_14079073/ <![CDATA[RNS press release - AGM Resolutions ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20190516135516_14077157/ Thu, 16 May 2019 13:55:16 +0100 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20190516135516_14077157/ <![CDATA[News - Portmeirion shares crack as it warns overseas troubles will put a big dent in this year’s profits ]]> https://www.proactiveinvestors.co.uk/companies/news/220210/portmeirion-shares-crack-as-it-warns-overseas-troubles-will-put-a-big-dent-in-this-years-profits-220210.html Shares in Portmeirion Group PLC (LON:PMP) cracked on Tuesday as the pottery company warned this year’s profits will be “significantly below” current market expectations.

Stoke-on-Trent-based Portmeirion blamed the bleak outlook on slowing demand for its cups and plates in some of its international markets, particularly Korea.

READ: Portmeirion posts record annual revenue as it hikes divi

After a strong end to 2018, bosses had always expected a drop-off in overseas sales at the start of this year, but the slowdown has been more pronounced than they had expected.

Even with decent showings in its two largest markets – the UK and the US – sales are down 10% so far in 2019.

“While the total effect on group sales is expected to be less than that for the full year, the board now expects profit before taxation for the full year will be significantly below market expectations,” read the gloomy statement.

“We do not anticipate this leading to a change in our expectations for dividend payments in the current year.”

Portmeirion shares lost a quarter of their value in early deals on Tuesday, falling to 913p.

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Tue, 14 May 2019 09:24:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/220210/portmeirion-shares-crack-as-it-warns-overseas-troubles-will-put-a-big-dent-in-this-years-profits-220210.html
<![CDATA[RNS press release - Trading Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20190514070006_14072409/ Tue, 14 May 2019 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20190514070006_14072409/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20190503114927_14062702/ Fri, 03 May 2019 11:49:27 +0100 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20190503114927_14062702/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20190502162415_14061484/ Thu, 02 May 2019 16:24:15 +0100 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20190502162415_14061484/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20190430144603_14057741/ Tue, 30 Apr 2019 14:46:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20190430144603_14057741/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20190408171503_14033159/ Mon, 08 Apr 2019 17:15:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20190408171503_14033159/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20190405124947_14031106/ Fri, 05 Apr 2019 12:49:47 +0100 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20190405124947_14031106/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20190402164646_14026135/ Tue, 02 Apr 2019 16:46:46 +0100 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20190402164646_14026135/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20190327153618_14018294/ Wed, 27 Mar 2019 15:36:18 +0000 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20190327153618_14018294/ <![CDATA[News - Portmeirion posts record annual revenue, double-digit profit growth, hikes full-year dividend ]]> https://www.proactiveinvestors.co.uk/companies/news/216936/portmeirion-posts-record-annual-revenue-double-digit-profit-growth-hikes-full-year-dividend-216936.html Portmeirion Group PLC (LON:PMP) saw its shares rise on Thursday after the high-quality ceramics manufacturer reported record annual revenue, double-digit profit growth, and increased its full-year dividend.

Posting results for the year ended 31 December 2018, the AIM-listed company reported a 10% rise in pre-tax profit to £9.7mln, up from the £8.8mln recorded in the previous year.

READ: Portmeirion expects to report record revenue for 2018, sees profits ahead of market forecasts

The group saw its 2018 revenue increase by 5.7% to £89.6mln, up from £84.8mln in 2017, a tenth consecutive year of growth, boosted by strong progress in the UK, US and South Korea.

Dick Steele, Portmeirion’s non-executive chairman Dick Steele said: "We look forward into 2019 with confidence and at this very early stage of the year expect trading to be in line with expectations for the full year."

The group is proposing a final dividend for 2018 of 29.50p per share, up from 27.26p in 2017, making a total dividend for the year of 37.50p, up 8.2% on last year's 34.66p pay-out.

In late morning trading, Portmeirion shares were 2.7% higher at 1,065p.

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Thu, 21 Mar 2019 11:09:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/216936/portmeirion-posts-record-annual-revenue-double-digit-profit-growth-hikes-full-year-dividend-216936.html
<![CDATA[RNS press release - Final Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20190321070006_14009944/ Thu, 21 Mar 2019 07:00:06 +0000 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20190321070006_14009944/ <![CDATA[RNS press release - Appointment of Non-Executive Director ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20190304070008_13988252/ Mon, 04 Mar 2019 07:00:08 +0000 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20190304070008_13988252/ <![CDATA[RNS press release - Acquisition ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20190225110006_13980466/ Mon, 25 Feb 2019 11:00:06 +0000 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20190225110006_13980466/ <![CDATA[RNS press release - Notice of Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20190222070005_13978045/ Fri, 22 Feb 2019 07:00:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20190222070005_13978045/ <![CDATA[News - Portmeirion expects to report record revenue for 2018, sees profits ahead of market forecasts ]]> https://www.proactiveinvestors.co.uk/companies/news/212814/portmeirion-expects-to-report-record-revenue-for-2018-sees-profits-ahead-of-market-forecasts-212814.html Portmeirion Group PLC (LON:PMP) saw its shares jump higher on Thursday after the high-quality homewares manufacturer said it expects to report record revenue for 2018 and sees profits ahead of market forecasts.

In a trading update for the year ended 31 December, the AIM-listed company said it expects its revenue to grow by 5.2% to at least £89.2mln, driven by "strong" growth across its key markets including the UK, US and South Korea.

READ: Portmeirion shares gain as first-half profits jump by almost a third after strong trading performance

The company – which owns the Portmeirion, Spode, Royal Worcester, Pimpernel and Wax Lyrical brand - said, at constant dollar exchange rates, its total group revenue increase for 2018 would have been nearer to 6.8%.

The firm noted that its home fragrance business, acquired in 2016, continued to thrive, with a growth of more than 11% year-on-year in 2018

In addition, the company said, its ongoing focus on online sales yielded 20% year-on-year growth.

Dick Steele, Portmeirion’s non-executive chairman, commented: "We are delighted to complete our tenth consecutive year of record sales.”

He added: “We will continue to invest in growing our business and look forward with confidence to 2019."

The firm expects to announce its preliminary results for the year ended 31 December 2018 on Thursday 21 March 2019.

In late afternoon trading, Portmeirion shares were 7% higher at 1,070p.

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Thu, 17 Jan 2019 15:20:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/212814/portmeirion-expects-to-report-record-revenue-for-2018-sees-profits-ahead-of-market-forecasts-212814.html
<![CDATA[RNS press release - Trading Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20190117070003_13937315/ Thu, 17 Jan 2019 07:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20190117070003_13937315/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20180815093117_13756216/ Wed, 15 Aug 2018 09:31:17 +0100 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20180815093117_13756216/ <![CDATA[News - Portmeirion shares gain as first-half profits jump by almost a third after strong trading performance ]]> https://www.proactiveinvestors.co.uk/companies/news/202102/portmeirion-shares-gain-as-first-half-profits-jump-by-almost-a-third-after-strong-trading-performance-202102.html Portmeirion Group PLC (LON:PMP) shares rose on Thursday after the ceramics maker saw its first-half profit jump by almost a third after a strong trading performance and rewarded shareholders with an over 8% hike in its interim dividend.

The AIM-listed firm – manufacturer of high-quality homewares under the Portmeirion, Spode, and Royal Worcester brands - posted pre-tax profits of £2.1mln for the six months to 30 June 2018, up 29% on the £1.6mln reported a year earlier.

READ: Portmeirion Group weak as homewares firm’s update fails to excite though first-half sales rose

The profit came as Portmeirion’s first-half revenue rose by 11% to £36.9mln, up from £33.1mln a year earlier, helped by a fall in finance costs as net debt was reduced to £1.3mln from £1.7mln.

Portmeirion Chairman Dick Steele said: "We are delighted with our strong first half trading performance, which benefits from new product launches and further diversification into new markets."

He added: "Our strategy continues to deliver revenue and profit growth and we remain confident in our ability to meet full-year market expectations."

The group increased its interim dividend to 8.0p per share, up 8.1% from the 7.4p paid a year earlier.

In late morning trading, Portmeirion shares were 4.1% higher at 1,169.00p.

Brokers upbeat

In a note to clients, analysts at City broker Cantor Fitzgerald repeated a ‘buy’ rating on Portmeirion shares, and increased its target price to 1,250p from 1,220p to reflect “the strong H1 performance and our confidence in the trading prospects ahead of peak.”

The analysts said: “Good growth has been seen across both the core Ceramics business along with the newly integrated Home Fragrance division.

“With the seasonally important second half still to come the business is well placed ahead of its peak trading period and we leave our estimates unchanged.”

Meanwhile, analysts at Panmure Gordon repeated a ‘buy’ rating with a 1,390p target price on Portmeirion shares.

They commented: “Good growth has been seen across both the core Ceramics business along with the newly integrated Home Fragrance division.

“With the seasonally important second half still to come the business is well placed ahead of its peak trading period and we leave our estimates unchanged.”

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Thu, 02 Aug 2018 11:38:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/202102/portmeirion-shares-gain-as-first-half-profits-jump-by-almost-a-third-after-strong-trading-performance-202102.html
<![CDATA[RNS press release - Interim Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20180802070010_13740629/ Thu, 02 Aug 2018 07:00:10 +0100 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20180802070010_13740629/ <![CDATA[News - Portmeirion Group weak as homewares firm’s update fails to excite though first-half sales rose ]]> https://www.proactiveinvestors.co.uk/companies/news/200697/portmeirion-group-weak-as-homewares-firms-update-fails-to-excite-though-first-half-sales-rose-200697.html Portmeirion Group PLC (LON:PMP) saw its shares drift lower on Thursday as a brief trading update failed to excite, although the ceramics firm revealed that its first-half sales increased and said it is confident about meeting full-year profit expectations.

For the six months to the end of June, the manufacturer and worldwide distributor of high-quality homewares under the Portmeirion, Spode, Wax Lyrical, and Royal Worcester brands, said its first-half sales increased by 11% compared to the same period a year earlier.

READ: Dark day for major retailers as disappointing news sends shares sliding across the board

On a constant currency basis, Portmeirion added, total group sales were 15% higher on last year.

The AIM-listed group said: "We are delighted with the positive start to the year with strong progress in both our ceramic and home fragrance divisions. With the seasonal weighting of our business, trading in the second half of the year remains important to the Group." 

It added: "We remain confident that we will achieve profits for the full year in line with market expectations."

The group said its results for the six months ended 30 June 2018 will be announced on 2 August 2018.

In early afternoon trading, Portmeirion shares were down 0.8% at 1,190p.

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Thu, 12 Jul 2018 14:18:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/200697/portmeirion-group-weak-as-homewares-firms-update-fails-to-excite-though-first-half-sales-rose-200697.html
<![CDATA[RNS press release - Trading Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20180712070003_13714689/ Thu, 12 Jul 2018 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20180712070003_13714689/ <![CDATA[RNS press release - Exercise of Options and PDMR Shareholdings ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20180522183006_13651179/ Tue, 22 May 2018 18:30:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20180522183006_13651179/ <![CDATA[RNS press release - AGM Resolutions ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20180517132121_13645543/ Thu, 17 May 2018 13:21:21 +0100 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20180517132121_13645543/ <![CDATA[RNS press release - AGM Statement ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20180517070002_13644316/ Thu, 17 May 2018 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20180517070002_13644316/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20180327130055_13583336/ Tue, 27 Mar 2018 13:00:55 +0100 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20180327130055_13583336/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20180327125900_13583334/ Tue, 27 Mar 2018 12:59:00 +0100 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20180327125900_13583334/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20180322164743_13578146/ Thu, 22 Mar 2018 16:47:43 +0000 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20180322164743_13578146/ <![CDATA[RNS press release - Directorate Change ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20180321170705_13576306/ Wed, 21 Mar 2018 17:07:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20180321170705_13576306/ <![CDATA[RNS press release - Final Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20180315070003_13567496/ Thu, 15 Mar 2018 07:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20180315070003_13567496/ <![CDATA[RNS press release - Final Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20180209080002_13527672/ Fri, 09 Feb 2018 08:00:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20180209080002_13527672/ <![CDATA[RNS press release - Trading update ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20180118070004_13500401/ Thu, 18 Jan 2018 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20180118070004_13500401/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20170920114327_13369395/ Wed, 20 Sep 2017 11:43:27 +0100 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20170920114327_13369395/ <![CDATA[RNS press release - Executive Share Option Grants ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20170811124121_13327625/ Fri, 11 Aug 2017 12:41:21 +0100 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20170811124121_13327625/ <![CDATA[RNS press release - Exercise of Options and PDMR Shareholdings ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20170809095234_13324197/ Wed, 09 Aug 2017 09:52:34 +0100 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20170809095234_13324197/ <![CDATA[RNS press release - Exercise of Options and PDMR Shareholdings ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20170809081813_13324034/ Wed, 09 Aug 2017 08:18:13 +0100 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20170809081813_13324034/ <![CDATA[RNS press release - Half-year Report ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20170803070003_13317647/ Thu, 03 Aug 2017 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20170803070003_13317647/ <![CDATA[RNS press release - Trading Statement ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20170707070003_13287099/ Fri, 07 Jul 2017 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20170707070003_13287099/ <![CDATA[RNS press release - Directorate Change ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20170620085314_13266378/ Tue, 20 Jun 2017 08:53:14 +0100 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20170620085314_13266378/ <![CDATA[RNS press release - AGM Resolutions ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20170525142259_13238826/ Thu, 25 May 2017 14:22:59 +0100 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20170525142259_13238826/ <![CDATA[RNS press release - AGM Statement ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20170525113149_13238572/ Thu, 25 May 2017 11:31:49 +0100 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20170525113149_13238572/ <![CDATA[RNS press release - Exercise of Options and PDMR Shareholdings ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20170518172014_13230989/ Thu, 18 May 2017 17:20:14 +0100 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20170518172014_13230989/ <![CDATA[RNS press release - Directorate Change ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20170425095607_13203279/ Tue, 25 Apr 2017 09:56:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20170425095607_13203279/ <![CDATA[RNS press release - Final Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20170309070008_13152083/ Thu, 09 Mar 2017 07:00:08 +0000 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20170309070008_13152083/ <![CDATA[RNS press release - Directorate and Company Secretary Changes ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20170208070009_13120569/ Wed, 08 Feb 2017 07:00:09 +0000 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20170208070009_13120569/ <![CDATA[RNS press release - Analyst Presentation - Full Year Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20170206090002_13118295/ Mon, 06 Feb 2017 09:00:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20170206090002_13118295/ <![CDATA[News - Portmeirion Group reports drop in profits after challenging six months ]]> https://www.proactiveinvestors.co.uk/companies/news/129006/portmeirion-group-reports-drop-in-profits-after-challenging-six-months-129006.html It has been a challenging six months for Portmeirion Group PLC (LON:PMP), maker and purveyor of fine china.

In a trading statement last month the company warned there would be a “material” drop in profits after an unexpected decrease in demand from Asia.

“We strongly believe that this is a short term set back and we remain confident in our medium and long term prospects,” said chairman Dick Steele today.

While revenues grew 2% to £28.5mln in the six months ended in June, pre-tax profit dropped 22% to £1.4mln.

Investors will be well looked after with a 15% hike to the interim dividend, which comes in at 7p a share.

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Thu, 04 Aug 2016 09:08:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/129006/portmeirion-group-reports-drop-in-profits-after-challenging-six-months-129006.html
<![CDATA[RNS press release - Interim results for six months ended 30 June 2016 ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20160804070018_012918783/ Thu, 04 Aug 2016 07:00:18 +0100 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20160804070018_012918783/ <![CDATA[RNS press release - Trading Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20160707070007_012883339/ Thu, 07 Jul 2016 07:00:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/799/LSE20160707070007_012883339/