Portmeirion Group PLC
02 February 2007
Portmeirion Group PLC
Trading Update
The Board is pleased to announce that Group sales for the year ended 31 December
2006 have been significantly better than originally expected in the Far East and
in North America. In addition, UK sales have recovered significantly in the
second half of 2006 and were only 3% below the second half of 2005 compared with
22% below last year in the first half. As a result, total Group sales have
increased by 3% for the full year and have continued to show a positive trend in
the new financial year.
Furthermore, continuing improvements in manufacturing efficiency and sourcing
have produced an increased gross margin.
As a result full year pre-tax profit for the Group, after exceptional
restructuring costs, will be ahead of our expectations. This profit does not
include the exceptional £1.7 million gain made on the site disposal we announced
on 12 January 2007. This gain will be reflected in the 2007 results.
The Group expects to announce its preliminary results for the year ended 31
December 2006 on 15 March 2007.
Enquiries:
Arthur Ralley, Chairman 01782 744721
Brett Phillips, Group Finance Director 01782 744721
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