Portmeirion profit to beat forecasts

Shares in Portmeirion are on the rise after the ceramics maker said pre-tax profits for the year ended 31 December will be above expectations.The group said it has seen 'substantial' revenue growth to around £43m from £32m in 2008. Having previously indicated that the acquisition of Spode and Royal Worcester intellectual property and US inventory on 23 April 2009 would generate a revenue figure of £7m for 2009, the group said it actually achieved sales of over £8m which forms part of the overall growth for the year.Portmeirion is due to announce its preliminary results for the year on 23 March 2010.