Portmeirion (LON:PMP)

Portmeirion (LON:PMP)


Share Price
975.00 p
Change
0 (0.00 %)
Market Cap
£106.01 m
Proactive Investors - Run By Investors For Investors

Portmeirion RNS Release

Trading Update


RNS Number : 3142N
Portmeirion Group PLC
17 January 2019
 

17th January 2019

 

PORTMEIRION GROUP PLC

('Portmeirion Group' or 'the Group')

 

Trading update

Portmeirion Group ahead of market expectations for year ended 31 December 2018

 

Portmeirion Group, the manufacturer and worldwide distributor of high quality homewares under the Portmeirion, Spode, Royal Worcester, Pimpernel and Wax Lyrical brands, is delighted to announce that it expects to report record revenue for the year ended 31 December 2018 of at least £89.2 million. This is ahead of market expectations and is driven by strong growth across our key markets including the UK, US and South Korea.

This represents an increase of 5.2% over the previous year and is the tenth consecutive year in which we have achieved record sales. At a constant US dollar exchange rate, our total Group revenue increase would have been nearer 6.8%.

 

Our home fragrance business (acquired in 2016), continued to thrive, growing more than 11% year on year. In addition, our ongoing focus on the Group's own online sales yielded 20% growth over 2017.

As a result of the growth across the business, we are pleased to announce that we also expect profit before taxation for the year to 31 December 2018 to be ahead of market expectations.

We expect to announce the Group's preliminary results for the year ended 31 December 2018 on Thursday 21 March 2019.

 

Dick Steele, Non-executive Chairman, said:

"We are delighted to complete our tenth consecutive year of record sales. Our strategy of geographical diversification backed by product development and our portfolio of leading homeware brands continues to drive our business forward strongly. We will continue to invest in growing our business and look forward with confidence to 2019."

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR").

 

 

Enquiries:

 

Portmeirion Group PLC:

 

Dick Steele,

Non-executive Chairman

+44 (0) 1782 744721

[email protected]

Mike Raybould,

Group Finance Director

+44 (0) 1782 744721

[email protected]




Hudson Sandler:

Dan de Belder

Nick Moore

+44 (0) 207 796 4133

 

[email protected]

[email protected]

 

Panmure Gordon:

(Nominated Adviser and Broker)

+44 (0) 207 886 2500


Freddy Crossley / Joanna Langley


Corporate Finance

James Stearns


Corporate Broking

 

Cantor Fitzgerald Europe:

(Joint Broker)

+44 (0) 207 894 7000


Phil Davies / Rick Thompson


Corporate Finance

Caspar Shand Kydd


Sales

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
TSTUNSBRKBAAAAR

Portmeirion Timeline

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use