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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Portmeirion Group Plc | LSE:PMP | London | Ordinary Share | GB0006957293 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
5.50 | 2.16% | 260.50 | 256.00 | 265.00 | 260.50 | 255.00 | 255.00 | 10,724 | 08:31:56 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Misc Homefurnishings Stores | 111.09M | 5.56M | 0.4037 | 6.45 | 35.84M |
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
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(END) Dow Jones Newswires
January 17, 2019 02:00 ET (07:00 GMT)
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