Portmeirion Group PLC Trading Update (3142N)
January 17 2019 - 1:00AM
UK Regulatory
TIDMPMP
RNS Number : 3142N
Portmeirion Group PLC
17 January 2019
17th January 2019
PORTMEIRION GROUP PLC
('Portmeirion Group' or 'the Group')
Trading update
Portmeirion Group ahead of market expectations for year ended 31
December 2018
Portmeirion Group, the manufacturer and worldwide distributor of
high quality homewares under the Portmeirion, Spode, Royal
Worcester, Pimpernel and Wax Lyrical brands, is delighted to
announce that it expects to report record revenue for the year
ended 31 December 2018 of at least GBP89.2 million. This is ahead
of market expectations and is driven by strong growth across our
key markets including the UK, US and South Korea.
This represents an increase of 5.2% over the previous year and
is the tenth consecutive year in which we have achieved record
sales. At a constant US dollar exchange rate, our total Group
revenue increase would have been nearer 6.8%.
Our home fragrance business (acquired in 2016), continued to
thrive, growing more than 11% year on year. In addition, our
ongoing focus on the Group's own online sales yielded 20% growth
over 2017.
As a result of the growth across the business, we are pleased to
announce that we also expect profit before taxation for the year to
31 December 2018 to be ahead of market expectations.
We expect to announce the Group's preliminary results for the
year ended 31 December 2018 on Thursday 21 March 2019.
Dick Steele, Non-executive Chairman, said:
"We are delighted to complete our tenth consecutive year of
record sales. Our strategy of geographical diversification backed
by product development and our portfolio of leading homeware brands
continues to drive our business forward strongly. We will continue
to invest in growing our business and look forward with confidence
to 2019."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014 ("MAR").
Enquiries:
Portmeirion Group PLC:
Dick Steele, +44 (0) 1782 steele_clan@msn.com
Non-executive Chairman 744721
Mike Raybould, +44 (0) 1782 mraybould@portmeiriongroup.com
Group Finance Director 744721
Hudson Sandler:
Dan de Belder +44 (0) 207 796 ddebelder@hudsonsandler.com
Nick Moore 4133 nmoore@hudsonsandler.com
Panmure Gordon:
(Nominated Adviser and +44 (0) 207 886
Broker) 2500
Freddy Crossley / Joanna Corporate Finance
Langley
James Stearns Corporate Broking
Cantor Fitzgerald Europe:
+44 (0) 207 894
(Joint Broker) 7000
Phil Davies / Rick Thompson Corporate Finance
Caspar Shand Kydd Sales
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 rns@lseg.com or visit www.rns.com.
END
TSTUNSBRKBAAAAR
(END) Dow Jones Newswires
January 17, 2019 02:00 ET (07:00 GMT)
Portmeirion (LSE:PMP)
Historical Stock Chart
From Apr 2024 to May 2024
Portmeirion (LSE:PMP)
Historical Stock Chart
From May 2023 to May 2024