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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