logo-loader
Retail & consumerFashion & brands
Portmeirion

Portmeirion Group reports drop in profits after challenging six months

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.

shutterstock_127456451.jpg
While revenues grew 2% to £28.5mln in the six months ended in June, pre-tax profit dropped 22% to £1.4mln

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.

Quick facts: Portmeirion

Price: £8.85

Market: AIM
Market Cap: £96.26 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Rockfire Resources' David Price discusses Brigalow Alluvial...

Rockfire Resources PLC's (LON:ROCK) David Price tells Proactive London's Andrew Scott they've been getting a better understanding of an alluvial gold deposit next one of their main assets in Queensland. Calculations made in 1986 on an area known as Brigalow Alluvial Goldfield has suggested...

2 days, 2 hours ago

2 min read