Portmeirion reports 2014 record profits
International homewares company, Portmeirion Group, has hit a record profit for the sixth consecutive year
Portmeirion Group has already enjoyed a successful start to 2015 following the launch of its exclusive new Ted Baker Portmeirion ceramic range and its announcement to install a new kiln, which will create 80 new jobs and see its UK manufacturing capacity increase by 50%.
Dick Steele, non-executive chairman at Portmeirion Group, commented: “We are delighted to be reporting another record year. Our core values of innovation, targeted product development and operational excellence remain unchanged. We remain confident for the future; the outlook for 2015 is positive.”
Portmeirion Group has four brands – Portmeirion, Spode, Royal Worcester and Pimpernel. Portmeirion Botanic Garden, which launched over four decades ago in 1972, remains a major pattern with a worldwide audience. Portmeirion Group’s oldest pattern, Spode Blue Italian, a traditional cobalt blue on finest English earthenware will mark 200 years of sales in 2016. However, key to the company’s future is product development and this will continue to be an area of focus for 2015.
• Sixth consecutive year of record Group revenue with growth of 5.3% to £61.4 million (2013: £58.3 million)
• Profit before tax increased 8.6% to a record £7.6 million (2013: £7.0 million)
• Total dividend paid and proposed for 2014 increased by 10.4% to a record 26.50p (2013: 24.00p)
• Revenue growth in key markets of USA, UK and South Korea
• Strong revenue growth of over 25% in other export markets Operational
• Approved £1.5 million investment in a new kiln and other equipment which will increase manufacturing capacity in the UK by over 50%
• Growth in online revenue of over 70% to £2.0 million (2013: £1.1 million)
• Record production levels with 17% increase to 150,000 best pieces per week (2013: 128,000)
• Exciting new ceramic range with Ted Baker announced
• 80 new jobs will be created due to new kiln
For more information, please visit: www.portmeiriongroup.com