AGM Trading Statement

RNS Number : 6597Z

Portmeirion Group PLC

25 May 2021

 

25 May 2021

Portmeirion Group PLC (the 'Group')

AGM Trading Statement

Sales 50% up year-on-year

Portmeirion Group PLC, the designer, manufacturer and worldwide distributor of high quality homewares under the Portmeirion, Spode, Royal Worcester, Pimpernel, Wax Lyrical and  Nambé brands,  announces the following trading update ahead of its Annual General Meeting to be held today at 12:00 noon.

We are delighted to report that we have had an excellent start to the year. Our sales for the first four months of the year (to 30 April 2021) have increased by more than 50% on the same period in 2020. On a like-for-like basis, our sales for this period are slightly ahead of pre-Covid levels achieved in the same period in 2019.

Mike Raybould, Chief Executive, said:

"Despite some ongoing Covid-related disruptions to our sales markets and supply chains in the first part of 2021, we are delighted to see the benefits of continued sales momentum and of our strategic programmes starting to feed through to our trading.

Our sales are traditionally weighted seasonally to the second half. However we are pleased to see our strong finish to 2020 continue through to the start of 2021. We have developed a pipeline of exciting new products that launch during 2021 which, together with our ongoing investments behind our digital infrastructure and operational capabilities, means we are confident about the opportunities to grow our brands around the world. "

Notes:   This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

Enquiries:-

Portmeirion Group PLC:
Mike Raybould	[phone]	[e-mail]
Chief Executive David Sproston	[phone]	[e-mail]
Group Finance Director
Hudson Sandler:
Dan de Belder	[phone]	[e-mail]
Nick Moore		[e-mail]
Panmure Gordon (Nominated Adviser and Broker):	[phone]
Freddy Crossley	Corporate Finance
Rupert Dearden	Corporate Broking

N+1 Singer (Joint Broker):	[phone]
Peter Steel / Sebastian Burke	Corporate Finance
Rachel Hayes	Corporate Broking

 

END

 

 

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