Portmeirion Group PLC New Sustainability Strategy and Roadmap

TIDMPMP

Portmeirion Group PLC

16 May 2023

16 May 2023

PORTMEIRION GROUP PLC

(the "Group")

NEW SUSTAINABILITY STRATEGY AND ROADMAP

'Crafting a Better Future' strategy outlines Group's commitment to becoming a more sustainable business

Portmeirion Group PLC, the owner, designer, manufacturer and omni-channel retailer of leading homeware brands in global markets, is pleased to launch its new sustainability strategy - 'Crafting a Better Future'. The new strategy outlines the Group's commitment to reduce its impact on climate change and develop as a positive force for the environment, the people that work across its operations and local communities.

Aligned to the Group's international commercial plans, the Crafting a Better Future strategy will be underpinned by a delivery roadmap, with a clear and transparent set of commitments and goals. The Group is now working to embed these into its operations and decision-making processes to ensure sustainability sits at the core of the business.

Crafting a Better Future focuses on the following strategic commitments:

1. COMMIT 2040 - Become a positive force for change, reducing our emissions and environmental impact by addressing what we can fix now, and supporting transformation within our industry:

-- Achieve Net Zero by 2040 across our Scope 1 and 2 emissions, defining a pathway that focuses on maximising the proportion of our energy use from renewable sources;

-- Work with our supply chain manufacturing partners to ensure they support our Commit 2040 plan;

-- Develop the role of Global Energy Teams to drive energy reduction within our operations through innovation and 'green thinking' throughout our Group;

-- Achieve '0% to landfill' across entire UK business, building on target already achieved in our Stoke-on-Trent ceramic manufacturing site;

   --    Eliminate single use plastics throughout our operations; 
   --    Understand our global nature footprint and develop a Group-wide biodiversity plan; and 
   --    Enhance our materiality assessment to understand more about our Scope 3 emissions. 

2. NURTURING THE BEST - D evelop as an inclusive, ambitious and inspirational global employer of choice, accessing the best talent and enabling all our people to thrive:

-- Ensure equity, diversity, inclusion and opportunities for all colleagues across our global business, and equip all our managers with the development tools to promote this;

-- Further improve supply chain transparency and support our suppliers in applying Portmeirion Group people principles across our value chain including opportunities for training and Health, Safety and Environment practices;

-- Expand our NHS UK Wellbeing Charter accreditation throughout our UK businesses and increase our number of Mental Health First Aiders across the Group;

-- Retain our UK Investors in People Platinum accreditation by delivering excellent employee support programmes, and continuing to place colleague wellbeing and development at our core; and

   --    Understand the aspirations of our colleagues and work on talent fulfilment plans. 

3. OUR COMMUNITY FAMILY - Build on our heritage by supporting our local communities to nurture talent, collaborating with others to create positive futures:

   --    Develop new community partnerships to address skills development and social mobility; 

-- Introduce a Global 'Giving Back' programme, providing colleagues with paid leave to engage in local volunteering activities;

-- Support local families with employability skills development, including CV writing, interview techniques and provision of paid work experience programmes; and

   --    Support community fundraising within our local areas. 

The strategy is underpinned by a clear governance structure, including a new Sustainable Business Board Committee, chaired by Mike Raybould, Chief Executive, which will drive accountability for all sustainability commitments that have been set by the Group. Delivery of the Crafting a Better Future sustainability plan is the collective responsibility of the Board.

Mike Raybould, Chief Executive, commented:

"Our Group continues to develop into a truly international business, with employees, offices, customers and suppliers all over the world. We are proud that our portfolio of homewares brands is sold in over 80 countries, and that our two, long-established UK factories supply around 40% of our global sales.

This exciting global growth brings with it responsibility. As a purpose-driven business, we are clear that we must continue to play our part in tackling global pressures such as climate change and support our extended community families. We must also continue to meet the expectations of our investors, stakeholders and customers as they work to deliver their own commitments.

We have already made good progress in reducing our carbon emissions per tonne of saleable products. Our Stoke-on-Trent factory recycles all clay and glaze, with zero to landfill status, and our Lake District home fragrance factory sources more than 50% of its energy from local wind turbines.

The launch of our Crafting a Better Future strategy represents the next level of ambition for our Group - to ensure that we continue to reduce our impact on the environment and support our colleagues and communities, whilst still pursuing our ambition to grow our business around the world."

Full details of the Group's Crafting a Better Future sustainability strategy and roadmap are available at https://www.portmeiriongroup.com/sustainability .

ENDS

ENQUIRIES:

 
 Portmeirion Group PLC: 
 Mike Raybould, Chief Executive    +44 (0) 1782         [e-mail] 
                                    743 443 
 David Sproston, Group Finance     +44 (0) 1782         [e-mail] 
  Director                          743 443 
 
 Hudson Sandler: 
 Dan de Belder                     [phone]      [e-mail] 
                                    4133 
 Nick Moore 
  Emily Brooker 
 
   Shore Capital: 
   (Nominated Adviser and Joint      [phone] 
   Broker):                          4090 
 Patrick Castle                    Corporate Advisory 
 Lucy Bowden                       Corporate Broking 
  Malachy McEntyre 
 
 
 Singer Capital Markets 
  (Joint Broker):            [phone] 
 Peter Steel               Investment Banking 
 Asha Chotai 
 

NOTES TO EDITOR:

Portmeirion Group PLC is a leading, omni-channel British ceramics manufacturer and retailer of leading homeware brands.

Based in Stoke-on-Trent, United Kingdom, the Group owns six unrivalled heritage and contemporary brands, with 750+ years of collective heritage; Portmeirion, Spode, Royal Worcester, Pimpernel, Wax Lyrical and Nambé.

The Group serves markets across the world, with global demand driven by diversified international markets including the key geographies of the US, UK and South Korea.

Portmeirion Group has a proven capital-light, well developed and self-funded growth strategy focused on building a wider customer base and growing the sales footprint of its brands, through:

   --    Building and growing international sales markets 
   --    Developing online sales channels in core markets 
   --    Designing and launching new product to widen appeal and take market share 
   --    Leveraging brands and extensive product ranges 

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May 16, 2023 02:00 ET (06:00 GMT)