LONDON (Alliance News) - Ceramic homewares company Portmeirion Group PLC on Monday said it expects its full-year results to be in line with market expectations and said it will invest in new equipment to boost its production capacity.
Portmeirion expects to post revenue for the year to December 31 of more than GBP61 million, up 5% year-on-year and a record for the company, whose brands include Portmeirion, Spode and Royal Worcester. It is the sixth year the company has posted record sales, it said.
The group said demand for products from its UK factory has continued to be strong and said it will invest GBP1.5 million in a new kiln and other equipment. The move will increase the production capacity of its UK facility by more than 50%, it said. The new kiln will be commissioned in the final quarter of 2015.
The group said it will post its full-year results on March 12.
"I am delighted with the achievement of another record level of sales. Our confidence in the future of the business is underlined by the additional investment announced today," said Non-Executive Chairman Dick Steele.
Shares in the company were up 0.6% to 888.00 pence on Monday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Portmeirion (PMP)