Trading Statement

RNS Number : 9647X

Portmeirion Group PLC

15 December 2010

 



Trading Update
Portmeirion Group PLC
('Portmeirion' or 'the Group')

15 December 2010

Portmeirion Group PLC, the AIM listed manufacturer and worldwide distributor of household goods, is pleased to announce that its profit before exceptional items and taxation for the year to 31 December 2010 will be significantly ahead of market expectations.

 
Group revenues for the 6 month period to 30 June 2010 were 24% ahead of last year and have continued to be significantly up on last year in the second half. We had commented on the excellent first half performance of our export markets, most notably the US, South Korea and Canada. These markets have continued to perform very well in the second half. We are also very encouraged that worldwide sales in the Spode and Royal Worcester brands have grown by over 40% on last year to exceed the target of £12 million as announced on 24 April 2009.

This year we have continued to invest in the development of our four major brands: Portmeirion, Spode, Royal Worcester and Pimpernel. We will launch over 250 new products in 2011, including a collection of Royal Worcester items to commemorate the Royal Wedding.

We will provide shareholders with a further update to include the outcome of the Christmas trading period in January.

Dick Steele, Non-executive Chairman, said:

"We are delighted that 2010 will be another record year for sales as we continue to capitalise on the Spode and Royal Worcester brands. Our investment in new products under both these and our Portmeirion and Pimpernel brands has contributed greatly to our revenue growth."

Enquiries:

Portmeirion Group PLC:
Dick Steele Non-executive Chairman	[phone]	[e-mail]
Brett Phillips Group Finance Director	[phone]	[e-mail]
Seymour Pierce Limited (Nominated Adviser and Broker):
Freddy Crossley Catherine Leftley	[phone]	[e-mail] [e-mail]
Corporate Broking:
David Banks	[phone]	[e-mail]
Katie Ratner	[phone]	[e-mail]
Pelham Bell Pottinger:
Dan de Belder	[phone]	[e-mail]
Lucy Frankland	[phone]	[e-mail]

 

END

 

 

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