Purchase of Warehouse

RNS Number : 1274J

Portmeirion Group PLC

11 July 2013

 



Portmeirion Group PLC

("Portmeirion")

(the "Group")

Purchase of warehouse

11 July 2013

Portmeirion, the AIM listed manufacturer and worldwide distributor of high quality homewares, is pleased to announce that it has acquired the long leasehold interest, to expire in May 2156, of a 64,000 sq. ft. warehouse and offices, which it currently occupies, located in Stoke-on-Trent for £3.9 million to be paid from existing cash resources. Until now the Group had leased the building for £306,000 per year; the Directors believe the acquisition will benefit the Group's pre-tax profit by £220,000 per year.

ENQUIRIES:

Portmeirion Group PLC:
Dick Steele Non-executive Chairman	[phone]	[e-mail]
Brett Phillips Group Finance Director	[phone]	[e-mail]
Panmure Gordon (Nominated Adviser and Broker)	[phone]
Freddy Crossley / Nicola Marrin		Corporate Finance
Adam Pollock / Victoria Boxall		Corporate Broking
Pelham Bell Pottinger
Dan de Belder	[phone]	[e-mail]
Julia Hanrahan	[phone]	[e-mail]

 

END

 

 

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