Information  X 
Enter a valid email address

Portmeirion Group (PMP)

  Print   

Wednesday 14 July, 2021

Portmeirion Group

Half Year Trading Update

RNS Number : 1375F
Portmeirion Group PLC
14 July 2021
 

14 July 2021

Portmeirion Group PLC

(the 'Group')

Half Year Trading Update

 

Strong year-on-year sales growth

 

Portmeirion Group PLC, the designer, manufacturer and worldwide distributor of high quality homewares under the Portmeirion, Spode, Royal Worcester, Pimpernel, Wax Lyrical and  Nambé brands,  updates on trading for the six months ended 30 June 2021.

 

Sales for the first half of the year will be approximately £43.0 million (2020: £32.0 million), representing an increase of 34% compared to the prior period. We were pleased to see sales growth across our three biggest geographical markets of the UK, USA and South Korea compared to H1 2020. We have also continued to see strong sales growth in online channels in our major markets.

 

Against pre Covid-19 performance in H1 2019, our like-for-like sales at a constant currency are up by 6% (excluding the benefit of Nambé acquired in July 2019 and the remaining 50% of the issued share capital of Portmeirion Canada acquired in August 2020).

 

Given the continued and sustained improvement in our trading, we re-confirm that we expect to resume dividend payments for FY21.

 

Mike Raybould, Chief Executive commented:

 

"We have continued to trade strongly in May and June and it is particularly pleasing to see that we are achieving like-for-like sales growth over pre Covid-19 trading levels, despite continuing disruption in our markets due to the UK's lockdown in Q1 2021 and ongoing Covid-19 related global shipping and supply chain delays. This performance demonstrates the strategic progress we are making as a business, including our online and digital transformation and rest of world sales growth.

 

We have a strong global order book going into our important second half trading period. Whilst we remain cognisant of the ongoing supply chain-related challenges, we remain confident of the trading outlook for the rest of FY21."

 

The Group expects to announce its interim results for the six months ended 30 June 2021 on 14 September 2021.


Notes:   This announcement contains inside information for the purposes of the retained UK version of the EU Market Abuse Regulation (EU) 596/2014 ("UK MAR").

Enquiries:-

 

Portmeirion Group PLC:

 

 

Mike Raybould

+44 (0) 1782 743443

[email protected]

Chief Executive

David Sproston

 

+44 (0) 1782 743443

 

[email protected]

Group Finance Director

 

 

 

 

Hudson Sandler:

 

 

Dan de Belder

+44 (0) 207 796 4133

[email protected]

Nick Moore

 

[email protected]

 

 

 

Panmure Gordon

(Nominated Adviser and Joint Broker):

 

+44 (0) 207 886 2500

 

Freddy Crossley

Corporate Finance

 

Rupert Dearden

Corporate Broking

 

 

Singer Capital Markets

(Joint Broker):

 

+44 (0) 207 496 3000

 

Peter Steel

Investment Banking

 

Rachel Hayes

Sebastian Burke

 

 

 

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
TSTUORBRAOUBAAR

a d v e r t i s e m e n t