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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Portmeirion Group Plc | PMP | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 7.50 | 3.49% | 222.50 | 09:13:17 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 215.00 | 215.00 | 222.50 | 222.50 | 215.00 |
| Industry Sector |
|---|
| HOUSEHOLD GOODS & HOME CONSTRUCTION |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 26/03/2024 | Final | GBP | 0.02 | 25/04/2024 | 26/04/2024 | 31/05/2024 |
| 14/09/2023 | Interim | GBP | 0.035 | 16/11/2023 | 17/11/2023 | 15/12/2023 |
| 23/03/2023 | Final | GBP | 0.12 | 20/04/2023 | 21/04/2023 | 30/05/2023 |
| 15/09/2022 | Interim | GBP | 0.035 | 22/09/2022 | 23/09/2022 | 21/10/2022 |
| 17/03/2022 | Final | GBP | 0.13 | 21/04/2022 | 22/04/2022 | 26/05/2022 |
| 01/08/2019 | Interim | GBP | 0.08 | 05/09/2019 | 06/09/2019 | 04/10/2019 |
| Top Posts |
|---|
Posted at 18/7/2024 13:26 by value hound Re-tipped by Simon Thompson:Intro: "This company's earnings recovery is very underrated "Stoke-on-Trent-base Conclusion: "Of course, the second half earnings bias increases investment risk especially as the group is expected to be loss-making in the first half of 2024. However, with the shares rated on modest prospective PE ratios of 10 (2024) and 6 (2025), and underpinned by forward dividend yields of 3.2 per cent (2024) and 5.2 per cent (2025), there is already a decent ‘margin of safety’ embedded in the current share price. If Portmeirion’s management’s confidence proves well founded, then expect a re-rating to narrow the 32 per cent discount to tangible book value of 339p. So, having rated the shares a hold, at 245p, when I covered the annual results (‘Portmeirion cuts a leaner figure for challenging times’, 27 March 2024), I now feel they are worth buying ahead of the next trading update in September. Speculative buy." |
Posted at 01/5/2024 18:04 by arthur_lame_stocks Hi value houndI have some PMP but one thing I don't like is that they seem to be doing their manufacturing in China now. I collect china and have a preference for buying British brands made in Britain, German brands made in Germany etc. I know you could argue that it's only made so much difference to every other good we used to manufacture but it doesn't seem quite right to me. I guess though there's a fair chance the consumer of the future won't mind, the real value is in the design. |
Posted at 01/5/2024 17:50 by value hound Bit of a write-up on Master Investor FWIW....The end of March saw this ceramics and homeware products group announce a disappointing set of results for the year to end December 2023. The company, which owns six major brands that are sold into some 80 countries across the world, had been hit for six by tough trading conditions in both its South Korean and its US markets. Sales were down from £110.8m to £102.7m, with adjusted pre-tax profits of £3.0m (£8.0m), collapsing earnings to 22.4p (46.8p), while slicing its dividend down to 5.50p (15.50p) per share. Conditions are still challenging but the business should see a steadier year in 2024, before showing a clear recovery in the next year. The group’s Management has been working upon improving both its productivity and its operating margins. It has also lined up new product launches in the current year, with customer reactions proving positive. CEO Mike Raybould has stated that: “We continue to work on productivity improvements in our factory and together with work done in the last 3 months to reach a much leaner global cost base we have a strong platform to improve operating margins once markets normalise. We also expect this to help us achieve further reductions in net debt which remains one of our priorities. We are confident in the strength and resilience of our brands that have over 750 years of combined heritage and continue to grow market share even in the current tough macro-economic environment. We are pleased with the continued strategic progress we have made and remain confident in our long-term strategy to grow sales and improve operating margins.” Analyst Sahill Shan at Singer Capital Markets is confident about the group’s mid-term growth but is waiting to see clearer signs of the group’s revenue and margin recovery. Over at Shore Capital Markets its analysts, Rob Sanders and Bradley Hughes, believe that the Management shorter-term strategy is to return its margins to a 10% EBIT business then up to 12.5%. Market expectations are for sales this year of around £100m, but with profits improving 50% to £4.5m, lifting earnings to 25p and the dividend to 7.5p per share. For the coming year to end December 2025 estimates are for £105m sales, £7.0m profits, 39p of earnings and 12p of dividends per share. Further out some £110m revenues in 2026 could boost profits to £10m, earnings to over 55p enabling a dividend of some 17.5p per share. The group’s shares, which were 265p before the results, subsequently eased back to 214p at the start of last month. They have been gradually showing some price recovery to 269.90p on Monday of this week – with the gradual uplift being propped by fairly low dealing volumes. Hopefully we will get some positive trading signals being outlined when the £36m capitalised group holds its AGM in three weeks’ time. In the meantime, the shares at last night’s closing price of 262.50p are not looking expensive, while holding substantial upside potential as the recovery takes hold. |
Posted at 22/2/2024 17:05 by crystball1 Has a bottoming out of the share price occurred now? I thought the trading update in January was satisfactory plus the outlook also. The unknown is whether or not the dividend (over 7% at today's share price) will be maintained. I watch with interest from the sidelines and will do further research. |
Posted at 23/1/2024 16:38 by value hound Update from Simon Thompson, FWIW, who concludes with:"On this basis, the shares trade 50 per cent below book value, on a price/earnings (PE) ratio of 9.3, and offer a 6.6 per cent dividend yield. Although the payout is safe as gearing is only 11 per cent, overseas headwinds need to abate for a share price recovery. Hold." |
Posted at 17/1/2024 14:28 by wad collector Well , thumbs down from the market. The problem is partly that the general pessimism views every situation as half empty. PMP is one for the patient .... |
Posted at 22/11/2023 12:14 by cwa1 Wonder if this might start to get interesting? |
Posted at 22/9/2023 11:30 by asagi great posts My Retirement Fund but let's not leave readers with any impression that current PMP CEO Mike Raybould was CEO at the time of the candles or Nambe acquisitions, he wasn't. Lawrence Bryan was CEO for both of those. Maybe Mike Raybould was CFO at the time of Nambe but I haven't got the original RNS.Asagi (no position) |
Posted at 14/9/2023 16:27 by value hound Re-tipped by Simon Thompson FWIW,Exploit the overreaction to Portmeirion's issues "Destocking by retailer customers in North America dented first-half profits, but next year is likely to see a marked improvement. "Reassuringly, the group's strong order book for the key Christmas trading period is ahead of last year, so the previously downgraded earnings guidance should be achieved. It points to full-year revenue falling by 10 per cent to £100mn and adjusted pre-tax profit from £8mn to £3mn. On this basis, house broker Shore Capital expects annual earnings per share (EPS) of 16.8p, down from 46.5p in 2022. Also, the 15.5p-a-share annual dividend is safe as net borrowings of £15mn are expected to halve to £7.3mn by the year-end as working capital build unwinds, implying a modest gearing ratio of 11 per cent. "Reassuringly, the group's strong order book for the key Christmas trading period is ahead of last year, so the previously downgraded earnings guidance should be achieved. It points to full-year revenue falling by 10 per cent to £100mn and adjusted pre-tax profit from £8mn to £3mn. On this basis, house broker Shore Capital expects annual earnings per share (EPS) of 16.8p, down from 46.5p in 2022. Also, the 15.5p-a-share annual dividend is safe as net borrowings of £15mn are expected to halve to £7.3mn by the year-end as working capital build unwinds, implying a modest gearing ratio of 11 per cent. "Furthermore, the 5.4 per cent dividend yield and 38 per cent share price discount to net asset value highlight the value on offer ahead of an anticipated strong bounce back in earnings next year when Shore Capital predicts a doubling of pre-tax profit and earnings per share (EPS) to £6mn and 33.4p, respectively, on 5 per cent higher revenue of £105mn. The rapid improvement in profits reflects productivity gains, easing in shipping freight rates and the drop through of incremental gross profit in a positive sales cycle given the operational leverage of the business. "It’s worth noting, too, that the group is now rated on a near-40 per cent discount to rival Churchill China (CHH:1,325p) based on their respective enterprise valuation to current year cash profit multiples even though Portmeirion’s earnings should recover strongly next year. "So, having recommended holding onto your high-yielding shares for the recovery potential after management first highlighted the destocking issue (‘Portmeirion shareholders should hold their nerve after profit warning’, 20 July 2023), I maintain that advice. Hold." |
Posted at 14/9/2023 09:58 by 1tx PMP will have to repair its margins over the second half if we are to see a maintained final dividend.I also feel that it is overstocked.It is a difficult time for manufacturers & PMP is & has been very much a victim of circumstances outside its control.Hopefully the US sales will recover in second half..... |
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