Last checked at 15 Jan 2010 07:00
15 January 2010
Trading Update
Portmeirion Group PLC
('Portmeirion' or 'the Group')
The Board of Portmeirion, the AIM listed manufacturer and worldwide distributor of household goods, is pleased to announce substantial revenue growth for the year ended 31 December 2009 to around £43 million from £32 million in 2008.
Although the reported Group revenues are flattered by the dollar to sterling translation rates for our US sales, these revenues nevertheless represent significant volume increases in all three of our major markets: US, UK and Korea.
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 £7 million for 2009, the Group actually achieved sales of over £8 million which forms part of the overall growth for the year.
As a consequence of these revenue increases, profits before taxation for the year ended 31 December 2009 will be above expectations.
The Group 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 Christopher Howard | +44 (0) 20 7107 8000 |