Portmeirion Group’s profits rise
International homewares company, Portmeirion Group, continues to prosper in 2013 with revenues and profits driven to record levels
Portmeirion Group, which has four brands – Portmeirion, Spode, Royal Worcester and Pimpernel – has seen revenues increase to £58.3 million, an increase of 5.0% over the previous year (2012: £55.5 million). Pre-tax profits also rose 6.3% to a record £7million.
Dick Steele, non-executive chairman at Portmeirion Group, commented: “Our core values are unchanged; we believe in attentive design, assured quality, a professional sales approach, nurtured brands, conservative financing and dividends. We are well positioned and optimistic for the future.”
Portmeirion Group’s largest and most important pattern remains Portmeirion’s Botanic Garden, which launched in 1972. However, product development remains key to the Group’s current and future success as a business. Major launches for 2014 include Ambiance – a collection that encourages informal sociable dining, and additions to the award-winning Sophie Conran for Portmeirion cookware collection.
For more information, please visit: www.portmeiriongroup.com
Financial highlights include:
- Record Group revenue of £58.3 million, up by 5% over the previous year (2012: £55.5 million)
- Profit before tax increased 6.3% to a record £7 million (2012: £6.6 million)
- Total dividend paid and proposed for 2013 increased by 10.1% to a record 24.00p (2012: 21.80p).
- Strong balance sheet maintained with cash of £6.2 million (2012: £7.5 million)
Operational highlights include:
Completed £3.9 million purchase of long leasehold interest in warehouse and offices in July 2013.Vivamus nulla nibh, sodales id
Record UK production levels
- Excellence in Housewares Award for new Sophie Conran for Portmeirion range