Portmeirion Group PLC Trading Update (4058S)
14 Julio 2022 - 1:00AM
UK Regulatory
TIDMPMP
RNS Number : 4058S
Portmeirion Group PLC
14 July 2022
14 July 2022
Portmeirion Group PLC (the 'Group')
Half Year Trading Update
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 updates on
trading for the six months to 30 June 2022.
Sales for the first half of the year will be at least GBP45
million (2021: GBP43.1 million), representing a 5% increase on the
previous year.
With consumers facing increasing cost of living inflationary
pressures, together with the impact of the Ukraine war on raw
material prices, global supply chain issues and weaker sales
markets, we remain cautious as we enter the key second half trading
period.
Against this backdrop of significantly more challenging economic
conditions, we are pleased that we continue to grow and with the
resilient performance our brands have shown.
Mike Raybould, Chief Executive commented:
"The benefit of our diversified sales markets, strong brands and
the ongoing strategic investment in productivity, automation and
efficiency has mitigated much of the increasingly challenging
market conditions and input cost inflation during H1. However, we
have also seen retail customers react to the economic environment
by de-stocking in the first half and we remain cautious to the risk
of further declines in consumer and retailer confidence for our key
second half trading period.
We have an exciting pipeline of product launches planned for H2
and looking forward we will continue to invest in our long term
strategy which we are confident will deliver long term sales growth
together with improved operating margins."
Notes: This announcement contains inside information for the
purposes of the retained UK version of the EU Market Abuse
Regulation (EU) 596/2014 ("UK MAR").
Enquiries:-
Portmeirion Group PLC:
Mike Raybould +44 (0) 1782 mraybould@portmeiriongroup.com
743443
Chief Executive
David Sproston +44 (0) 1782 dsproston@portmeiriongroup.com
743443
Group Finance Director
Hudson Sandler:
Dan de Belder +44 (0) 207 796 ddebelder@hudsonsandler.com
4133
Nick Moore nmoore@hudsonsandler.com
Panmure Gordon
(Nominated Adviser and +44 (0) 207 886
Broker): 2500
Freddy Crossley Corporate Finance
Rupert Dearden Corporate Broking
Singer Capital Markets +44 (0) 207 496
(Joint Broker): 3000
Peter Steel Investment Banking
Rachel Hayes
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END
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