Sales and profits up at Portmeirion Group

Portmeirion Group has posted a 16% rise in sales to £33.1 million for the six months to June 30, against the year-ago period.

Pre-tax profits lifted 18% to £1.6 million, while net debt reduced by £8 million to £1.7 million.

The Stoke-on-Trent company, which encompasses the Portmeirion, Spode, Royal Worcester, Pimpernel and Wax Lyrical brands, noted that it is ‘making good progress on growth and diversification in export markets’.

The firm also said that new items has been developed with Wax Lyrical – the home fragrance company acquired last year – with the launch of co-branded home fragrance products for key ranges including Botanic Garden, Sophie Conran for Portmeirion and Wrendale Designs.

The tabletop giant’s non-executive chairman Dick Steele commented: “We’re pleased to announce a positive trading performance for the first six months of 2017. We remain confident in our ability to create shareholder value in the short, medium and long term.”

During the period, the senior management team was strengthened with the appointments of Mike Raybould as group finance director, Mick Knapper as operations director, Moira MacDonald as company secretary and Andrew Andrea as non-executive director.

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