Portmeirion Regulatory News (PMP)

2 Feb 2007 07:00

Portmeirion Group PLC02 February 2007 Portmeirion Group PLC Trading Update The Board is pleased to announce that Group sales for the year ended 31 December2006 have been significantly better than originally expected in the Far East andin North America. In addition, UK sales have recovered significantly in thesecond half of 2006 and were only 3% below the second half of 2005 compared with22% below last year in the first half. As a result, total Group sales haveincreased by 3% for the full year and have continued to show a positive trend inthe new financial year. Furthermore, continuing improvements in manufacturing efficiency and sourcinghave produced an increased gross margin. As a result full year pre-tax profit for the Group, after exceptionalrestructuring costs, will be ahead of our expectations. This profit does notinclude the exceptional £1.7 million gain made on the site disposal we announcedon 12 January 2007. This gain will be reflected in the 2007 results. The Group expects to announce its preliminary results for the year ended 31December 2006 on 15 March 2007. Enquiries: Arthur Ralley, Chairman 01782 744721 Brett Phillips, Group Finance Director 01782 744721 This information is provided by RNS The company news service from the London Stock Exchange