Portmeirion Share Discussion Threads

[my retirement fund] 10/1/2023 13:06

well ive dipped my toe in

[cwa1] 10/1/2023 10:19

Possibly later this week for any trading update?

[cwa1] 10/1/2023 07:56

Yes, interesting, here's the full thing whilst we wait to hear from PMP...

FULL YEAR TRADING UPDATE

Churchill China plc (AIM: CHH), the manufacturer of innovative performance ceramic products serving hospitality markets worldwide, announces the following trading update for the year ended 31 December 2022.

The sound performance reported in our half year results on 13 September 2022 continued into the final months of the year. As a result the Board anticipates that profit before taxation for the year ended 31 December 2022 will be at the upper end of analyst expectations*.

Despite ongoing market uncertainty we have continued to grow revenue in export markets and our UK market position has benefited from our ability to offer a high level of service. As previously noted, margin levels remain lower than in previous years although there has been some improvement in the second half of the year as we have managed the challenges of increased material and energy costs. Our outstanding order book remains above normal levels and progress has been made in improving supply to customers towards the end of the year. The rate of incoming orders continues to be satisfactory.

We continue to build our market position for the long term and to invest in strategic initiatives aligned to market development, operational efficiency and energy management.

[se81] 10/1/2023 07:43

CHH with an "upper end" statement this morning citing improvement in second half having managed increased material and energy costs- interesting read across here which is very cheap in comparison

[my retirement fund] 08/1/2023 22:03

Trading update must be due soon anyone for the date?

[illiswilgig] 15/12/2022 19:48

UK forward wholesale gas price curves are headed downwards. No great surprise. We've not run out of gas yet despite Putin's best efforts and the cold snap with no wind.

Gas bought today for delivery Q2 2024 is around 243p/therm whereas todays spot price is around 380-400p though I'd expect that to fall next week as the cold weather eases, wind returns and some of gas-fired plants stop running full tilt.

6p/kWh addition looks like quite a good assumption if you forward bought for mid 2024 today. But probably best not to do that in the middle of a coldsnap in December with gas powerstations runnning full tilt? But WDIK? I'm not an expert.

Figures taken for UK NBP prices from ERC Energy site. No idea how accurate they are.

Thats the wholesale price. If you are buying forward 38m kWH annually I'd expect close to the wholesale price.

Longterm spot prices seem to have been between 35-70p/therm so we're not there yet.

400p/therm converts to around 13.6p/kWh and
243p/therm converts to around 8.3p/kWh
70p/therm converts to around 2.4p/kWh

if I have got my sums right. No guarantee there!

Doesn't look like any reason to panic for March2024 right now? Personally I'm happy to leave to the management who had the foresight to fix their gas prices in 2021 out to 2024. Very astute.

Happy to be corrected by someone who knows much more about it than I do which is not hard,

cheers

[my retirement fund] 14/12/2022 13:53

Some insider buying would help my confidence to make a purchase but right now hand on heart, something doesn't feel right here. I guess if you were buying at this juncture, at least you wouldn't be sitting on such a loss as those who've been here over the last year. Never the less, cheap can get cheaper and the it's not nice sitting on dead money for ever more.

[rossco] 14/12/2022 13:20

Since 38m in 2021 was natural gas I don’t think the company will be faced with an extra 25p increase in 2024. I am hoping for a maximum extra of 5/6p per kWh - still a substantial increase but manageable.

[darrin1471] 14/12/2022 12:23

was researching PMP,

"Long term energy hedge remains to March 24" sounded good

PMP CEO said in H122 webcast that he hoped "energy prices will return to their historic average" and that would be the time to take out a new hedge
But UK ceramics uses a lot of energy. The factory in Stoke uses 38 million kWh.
An extra 25p per kWh adds £10m to costs on a turnover of £106m.

My businesses energy costs went up 35p kWh earlier this year.

Any thoughts?

[my retirement fund] 13/12/2022 11:40

Visited the Royal Worcester museum over the weekend, thoughts of PMP. Very quiet here, been looking at the recent updates. RSI been smashed down for an unusually long period, hard to believe it touched £13 per share before covid.

[tole] 29/11/2022 17:34

https://masterinvestor.co.uk/equities/looking-at-both-loungers-and-the-portmeirion-group/

[cwa1] 03/11/2022 08:11

I had assumed, since it was so casually sneaked in to another fairly so-so announcement, with no fanfare, that it was going to be bad news. However it is, probably, as good as it gets under the circumstances, so why not tell everybody that? Strange

[somerset lad] 03/11/2022 08:07

Collaboration is good; trading statement is good; but who on earth is advising them -- if you are going to put a trading statement in an RNS it needs to be headed as such.

[cwa1] 03/11/2022 07:29

Announcement of exciting new design collaboration between Spode and

Kit Kemp Design Studio

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 is pleased to announce a new and exclusive design collaboration between our Spode brand and Interior Designer Kit Kemp MBE, Founder and Creative Director of Firmdale Hotels and Kit Kemp Design Studio.

Kit Kemp Design Studio is celebrated for its individual and original approach to hotel and residential design, with colourful and detailed interiors which celebrate craft and capture the imagination. Firmdale Hotels comprises 10 luxury hotels including Ham Yard Hotel in London and Crosby Street Hotel in New York. Shop Kit Kemp brings together her range of furniture, fabrics, fragrance and home accessories and Kit is also the author of four books on interiors and design.

The Kit Kemp collection for Spode is an exciting new range of tableware and giftware. The 'Tall Trees' design will be featured throughout the new Warren Street Hotel in New York's Tribeca neighbourhood, Firmdale's next property opening in September 2023. The new consumer collection will be available in stores worldwide and online in April 2023 after its launch at the Spring 2023 New York Tabletop & Gift Show.

This collaboration, for an initial period of five years, further demonstrates the Group's commitment to expand our customer base and grow market share across our portfolio of brands.

As we continue through our key seasonal trading period, Group sales remain robust and further to our interim announcement on 15 September 2022 trading for the months of September and October have been in line with management expectations.

Mike Raybould, Chief Executive commented:

"Spode started life in 1770 and its heritage and contemporary tableware designs are much loved around the world. It has been a delight to work with Kit Kemp to create a new British design collaboration inspired by her unique approach to interior textiles. We can't wait to bring these new ranges of tableware and giftware to consumers around the world in 2023."

Kit Kemp, Founder and Creative Director of Firmdale Hotels and Kit Kemp Design Studio commented:

"We are thrilled to be collaborating with Spode on this specially designed collection of table and homewares. We have featured our signature designs throughout the range such as Rick Rack and our new Tall Trees pattern which features a special treetop view surrounded by birds, mythical creatures and rolling hills creating a sense of whimsy and delight."

[cwa1] 13/10/2022 16:11

AB Traction steadily hoovering up the stock:-

[wad collector] 29/9/2022 14:59

Added at 327. Whole market is a falling knife I think.

[wad collector] 15/9/2022 14:22

As with most results recently reported, the market doesn't like them though.

[thelongandtheshortandthetall] 15/9/2022 07:46

-- Long term energy hedge until Q1/2024 continues to insulate the Group against ongoing volatility in energy prices.

Nice^

[cwa1] 15/9/2022 07:43

Mike Raybould, Chief Executive, commented:

"Whilst we are not immune to the significant macro headwinds initiated by the war in Ukraine, our brands remain in strong demand around the world, and we have seen encouraging year on year growth continue through July and August. Off the back of a record revenue year in 2021 our increasingly diversified sales markets and continued execution of our strategy have enabled us to again grow top line sales and bottom line profits in the first half, and we expect to see sales at least in line with the record performance in 2021 and profit for the full year also ahead of the prior year. Although the ongoing impact of input cost inflation and labour market disruption is more significant than previously forecast we still expect to grow operating margins in the short term in 2022 and see significant upside in the medium and long term as and when macro-economic conditions normalise and the full value of our brands and business transformation becomes clear. We have therefore reintroduced our interim dividend which was postponed during the Covid-19 pandemic.

We have a great pipeline of new product scheduled to launch over the next 24 months, and have just launched new and much improved UK and international ecommerce sites as part of our key online strategy and continue to invest in and develop new customers in rest of world sales markets. With the strength and longevity of our portfolio of brands, there remains a significant opportunity to expand our sales and customer base around the world over the coming years."

[wad collector] 14/9/2022 20:13

Hmm don't like the look of this afternoon's fall pre-interims. Hopefully just following the market ....

[wad collector] 13/9/2022 13:01

The sps have mirrored themselves for a while. Didn't say much about energy costs which is a bit of an elephant.
Interims here on thursday.

[thelongandtheshortandthetall] 13/9/2022 10:38

Yes indeed CWA1.
Very good read across for Portmeirion.

[cwa1] 13/9/2022 07:28

CHH Interims are out and my be worth a glance for read across here...



Snippet:-

We continue to benefit from high levels of demand. Our order book is the strongest we have experienced and reflects Churchill's reputation for providing an innovative, technically advanced product alongside market leading service levels. We expect revenue to grow for the foreseeable future despite increasing economic headwinds in the wider economy. The ability to deliver a good performance in a difficult trading environment confirms the strength of Churchill's market position, strategy and operations and emphasises the benefit of our long term approach to business.