Portmeirion Group, which manufactures and distributes the Portmeirion, Spode, Royal Worcester, Pimpernel and Wax Lyrical brands, has confirmed that the company expects to report record revenue for the year ended December 31, 2018, of at least £89.2m. This is ahead of market expectations and is driven by strong growth across our key markets including the UK, US and South Korea.
It represents an increase of 5.2% over the previous year, and is the tenth consecutive year in which the company has achieved record sales. At a constant US dollar exchange rate, the total Group revenue increase would have been nearer 6.8%.
The Group’s home fragrance business (acquired in 2016), continued to thrive, growing more than 11% year on year. In addition, the company’s ongoing focus on the Group’s own online sales yielded 20% growth over 2017.
As a result of the growth across the business, the company announced it expects profit before taxation for the year to December 31, 2018, to be ahead of market expectations.
The Group’s preliminary results for the year ended December 31, 2018, are expected to be announced on Thursday March 21.
“We are delighted to complete our tenth consecutive year of record sales,” commentedDick Steele, non-executive chairman: “Our strategy of geographical diversification backed by product development, and our portfolio of leading homeware brands, continues to drive our business forward strongly. We will continue to invest in growing our business and look forward with confidence to 2019.”
Top: The Portmeirion Group HQ in Stoke-on-Trent.
