Trading Statement

RNS Number : 8588A

Portmeirion Group PLC

07 August 2008

 

Trading update

7 August 2008

Ahead of Portmeirion Group PLC's interim results, which are expected to be announced on 8 August 2008, the Board is providing an update on trading. 

Overall revenues for the first six months of 2008 are 5.6% above last year. However, In common with other consumer facing companies, Portmeirion Group PLC (the 'Group') has experienced difficult trading conditions in the USA during 2008. This, combined with increased fuel costs in its UK production facility, has led to pre-exceptional profits for the 6 months to 30 June 2008 for the Group being below management's expectations. The Board expects to recommend a maintained interim dividend of 3.55p per ordinary share.

The Board has not yet seen evidence of a slow down in sales in the Group's UK or rest of the world markets. However, given the prevailing economic climate in the UK, the Board believes that it is prudent to also expect some impact on trading in these territories during the second half of 2008. As a result the Board believes that the Group's performance for the year ending 31 December 2008 is likely to be below management's expectations.

Further enquiries:

Portmeirion Group PLC:
Dick Steele, Non-executive Chairman	01782 744721
Brett Phillips, Group Finance Director	01782 744721
Pelham Public Relations:
Kate Catchpole	020 7743 6674
KBC Peel Hunt Ltd	020 7418 8900
Megan Macintyre
David Anderson

 

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