08:00 Tue 19 May 2020
Portmeirion Group - AGM Trading Statement
(the "Company")
AGM Trading Statement
As the Company reported on
Our
With retail stores around the world shut down since March due to Covid-19 lockdowns, our business has been significantly impacted and we expect this to continue through the second quarter until there is clarity around how and when stores will reopen. We have continued to ship export orders to the Far East where retail stores have now reopened, and have seen a significant uplift in our online sales in the
We believe that the early and swift action we took to minimise cash burn during the Covid-19 crisis will put us in a strong position to thrive once lockdown restrictions are lifted around the world. We expect our cash burn in Q2 2020 to be less than
The Board remains committed to maintaining a sustainable and appropriate level of dividend payments over the long term. Whilst we remain cautious about the immediate future we will reinstate our interim and final dividend payments as soon as we feel it prudent so to do, and will next provide an update in our interim results announcement.
We have a robust strategy to leverage our powerful portfolio of homeware brands. Throughout the pandemic we have continued to focus on and progress our new product development pipeline and invest in growing our online sales channels.
Notes: This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.
ENQUIRIES:
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Chief Executive Officer |
+44 (0) 1782 743 444 |
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Group Finance Director |
+44 (0) 1782 743 444 |
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+44 (0) 207 796 4133 |
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(Nominated Adviser and Broker) |
+44 (0) 207 886 2500 |
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Corporate Finance |
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Corporate Broking |
N+1 Singer: |
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(Joint broker) |
+44 (0) 207 496 3000 |
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Corporate Finance |
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Corporate Broking |
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