Portmeirion Group PLC Half Year Trading Update (1375F)
14 Julio 2021 - 1:00AM
UK Regulatory
TIDMPMP
RNS Number : 1375F
Portmeirion Group PLC
14 July 2021
14 July 2021
Portmeirion Group PLC
(the 'Group')
Half Year Trading Update
Strong year-on-year sales growth
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 ended 30 June 2021.
Sales for the first half of the year will be approximately
GBP43.0 million (2020: GBP32.0 million), representing an increase
of 34% compared to the prior period. We were pleased to see sales
growth across our three biggest geographical markets of the UK, USA
and South Korea compared to H1 2020. We have also continued to see
strong sales growth in online channels in our major markets.
Against pre Covid-19 performance in H1 2019, our like-for-like
sales at a constant currency are up by 6% (excluding the benefit of
Nambé acquired in July 2019 and the remaining 50% of the issued
share capital of Portmeirion Canada acquired in August 2020).
Given the continued and sustained improvement in our trading, we
re-confirm that we expect to resume dividend payments for FY21.
Mike Raybould, Chief Executive commented:
"We have continued to trade strongly in May and June and it is
particularly pleasing to see that we are achieving like-for-like
sales growth over pre Covid-19 trading levels, despite continuing
disruption in our markets due to the UK's lockdown in Q1 2021 and
ongoing Covid-19 related global shipping and supply chain delays.
This performance demonstrates the strategic progress we are making
as a business, including our online and digital transformation and
rest of world sales growth.
We have a strong global order book going into our important
second half trading period. Whilst we remain cognisant of the
ongoing supply chain-related challenges, we remain confident of the
trading outlook for the rest of FY21."
The Group expects to announce its interim results for the six
months ended 30 June 2021 on 14 September 2021.
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 ddebelder@hudsonsandler.com
796 4133
Nick Moore nmoore@hudsonsandler.com
Panmure Gordon
(Nominated Adviser and Joint +44 (0) 207
Broker): 886 2500
Freddy Crossley Corporate Finance
Rupert Dearden Corporate Broking
Singer Capital Markets +44 (0) 207
(Joint Broker): 496 3000
Peter Steel Investment Banking
Rachel Hayes
Sebastian Burke
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END
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July 14, 2021 02:00 ET (06:00 GMT)
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