Business
Final Results / Replacement
Final Results / Replacement.
About this update from Portmeirion Group Plc
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 4582D Portmeirion Group PLC 23 March 2011 \n\nThe following replaces the final results released at 7am under RNS number 4379D.\n \nThe Consolidated Statement of Changes in Equity table has been amended.\n \n23 March 2011\n \nPortmeirion Group PLC ('Portmeirion' or 'the Group')\n \nPreliminary results for the year ended 31 December 2010\n \n \nFinancial summary \n\n\n\n\n\n\n\n \n2010\n£m\n\n\n \n2009\n£m\n\n\n \nIncrease\n%\n\n\n\n\nRevenue\n\n\n51.2\n\n\n43.2\n\n\n18.7\n\n\n\n\nPre-tax profit before exceptional items\n\n\n5.4\n\n\n3.9\n\n\n38.8\n\n\n\n\nPre-tax profit after exceptional items\n\n\n5.2\n\n\n3.7\n\n\n41.2\n\n\n\n\nPre-exceptional EBITDA\n\n\n6.6\n\n\n5.6\n\n\n19.7\n\n\n\n\nBasic earnings per share\n\n\n34.91p\n\n\n24.73p\n\n\n41.2\n\n\n\n\nDividends paid and proposed per share in respect of the year\n\n\n17.40p\n\n\n15.80p\n\n\n10.1\n\n\n\n\n \nHighlights:\n \nFinancial\n· Record revenues of £51.2 million, an increase of 19% on the previous year (2009: £43.2 million)\n· Profit before exceptional items and tax increased 39% to £5.4 million (2009: £3.9 million)\n· Profit before tax increased 41% to £5.2 million (2009: £3.7 million)\n· Total paid and proposed dividend for the year increased by 10% to 17.40p (2009: 15.80p)\n· Balance sheet remains very strong: net cash balance up to £6.2 million (2009: £4.4 million)\n \n \nOperational\n· Strong sales growth from Spode and Royal Worcester \n· Sales growth across all 4 brands\n· Launched over 250 new products in 2011 including 6 new bone china patterns and a new Paddington Bear range \n· Strong growth in the US and South Korea \n \n \nDick Steele, Non-executive Chairman commented:\n \n\"We are delighted to report another record year with trading above market expectations. We achieved growth across all four brands, and sales of Spode and Royal Worcester were well above the figure we had forecasted.\n \nWe have plans to further increase our spend on product development and have already launched over 250 new products in 2011. \n \nThe new financial year has started well with revenues for the ...