AGM Statement

RNS Number : 6560Y

Portmeirion Group PLC

19 May 2016

 

19 May 2016

Portmeirion Group PLC ('the Company')

AGM Statement

At the Company's Annual General Meeting to be held today at 12.00 noon, the Non-Executive Chairman, Dick Steele, will make the following statement:

"Our two largest markets, the US and the UK have performed better than during the same period last year but sales to South Korea have not recovered as we had expected. As a result total sales for the four months to the end of April were 2% below the corresponding period last year. We have also experienced an unexpected decrease in demand from some of our other Asian markets. However, we do not believe that this is a permanent trend.

We are taking action in response to the decrease in demand and we are confident that this, combined with our recent acquisition of Wax Lyrical, will provide overall growth for the Group this year. Consequently, we expect profit before tax to be in line with market expectations for the full year."

Enquiries:

Portmeirion Group PLC:
Dick Steele                                         [phone]           [e-mail]

Non-executive Chairman                     
Brett Phillips,                                      [phone]            [e-mail]

Group Finance Director

Bell Pottinger:

Dan de Belder                                    [phone]         [e-mail]

Saskia Lumley                                     [phone]          [e-mail]

Panmure Gordon                               [phone]

(Nominated Adviser and Broker):

Freddy Crossley/ Duncan Monteith                                              Corporate Finance

Tom Salvesen                                                                               Corporate Broking                   

Cantor Fitzgerald Europe                   [phone]

(Joint Broker):

Catherine Leftley/Marc Milmo                                                      Corporate Finance

David Banks                                                                                  Sales

 

END

 

 

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