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15 Jan 2010 07:00
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15 January 2010
Trading Update
Portmeirion Group PLC
('Portmeirion' or 'theΒ Group')
TheΒ Board of Portmeirion,Β the AIM listed manufacturer and worldwide distributor of household goods,Β is pleased to announceΒ substantial revenue growthΒ for the year ended 31 December 2009Β to around Β£43 million from Β£32 million in 2008. Β
Although the reported Group revenues are flattered by theΒ dollar to sterlingΒ translation ratesΒ forΒ ourΒ USΒ sales, these revenues nevertheless represent significant volume increases in all three of our major markets: US,Β UKΒ andΒ Korea.
Having previously indicatedΒ that the acquisition of Spode and Royal Worcester intellectual property andΒ USΒ inventory on 23 April 2009 would generate a revenue figure ofΒ Β£7 millionΒ for 2009, theΒ GroupΒ actuallyΒ achievedΒ sales of over Β£8 millionΒ which forms part of the overall growth for the year.
As a consequence of these revenue increases,Β profits before taxation for the yearΒ ended 31 December 2009 will be above expectations.
TheΒ GroupΒ expects to announce its preliminary results for the year ended 31 December 2009 on 23 March 2010.
Enquiries:
|
Portmeirion Dick Steele, Non-executive Chairman Brett Phillips, Group Finance Director |
+44 (0) 1782 744721 +44 (0) 1782 744721 |
|
Pelham Public Relations Limited Kate Catchpole |
+44 (0) 20 7337 1512 |
|
Seymour Pierce Limited ChristopherΒ Howard |
+44 (0) 20 7107 8000 |
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