LONDON (Alliance News) - Ceramics maker Portmeirion Group PLC hiked its interim dividend Thursday after its profit jumped almost a third amid a "strong" trading performance.
For the six months ended June, pretax profit widened 29% to GBP2.1 million from GBP1.6 million a year prior. This was after revenue rose 11% to GBP36.9 million from GBP33.1 million the year before.
Profit performance was helped by a fall in finance costs to GBP123,000 from GBP225,000 the year prior. This was as net debt fell to GBP1.3 million from GBP1.7 million the year before.
"We are delighted with our strong first half trading performance, which benefits from new product launches and further diversification into new markets," Portmeirion Chairman Dick Steele said. "Our strategy continues to deliver revenue and profit growth and we remain confident in our ability to meet full-year market expectations."
Portmeirion proposed a 8.0 pence per share interim dividend, up 8.1% from 7.4p the year prior.
Shares in Portmeirion were 4.1% higher at 1,169.00p on Thursday.
Portmeirion (PMP)