Earnings Release • Jan 19, 2015
Earnings Release
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RNS Number : 4450C
Portmeirion Group PLC
19 January 2015
19 January 2015
Portmeirion Group PLC ('Portmeirion' or 'the Group')
Trading Update
Portmeirion, the AIM listed manufacturer and worldwide distributor of high quality homewares, is pleased to confirm that, following strong trading through the final quarter of 2014, it expects profit before taxation for the year to 31 December 2014 to be in line with market expectations.
The Group expects to report record revenues for the year ended 31 December 2014 of over £61 million, approximately 5% above last year. This is the sixth consecutive year in which we have achieved record sales.
Demand for the products we make in our UK factory has been particularly strong in 2014 and continues to be so. Consequently, the Board has approved the investment of some £1.5 million in a new kiln and other equipment which will increase the capacity of our UK factory by over 50%. The kiln will be commissioned in the final quarter of 2015.
We expect to announce the Group's preliminary results for the year ended 31 December 2014 on 12 March 2015. The Board remains committed to a progressive dividend policy.
Dick Steele, Non-executive Chairman, said:
"I am delighted with the achievement of another record level of sales. Our confidence in the future of the business is underlined by the additional investment announced today."
Enquiries:
| Portmeirion Group PLC: Dick Steele Non- executive Chairman Brett Phillips Group Finance Director |
+44 (0) 1782 744721 +44 (0) 1782 744721 |
[email protected] [email protected] |
| Bell Pottinger: Dan de Belder Kashara Taylor |
+44 (0) 203 772 2561 +44 (0) 203 772 2593 |
[email protected] [email protected] |
| Panmure Gordon (Nominated Adviser and Broker): Freddy Crossley / Nicola Marrin Tom Salvesen / Maisie Atkinson |
+44 (0) 207 886 2500 | Corporate Finance Corporate Broking |
This information is provided by RNS
The company news service from the London Stock Exchange
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