Business
Preliminary Results
Preliminary Results.
About this update from Portmeirion Group Plc
[{"type":"text","content":"\n\n31 March 2025\n \nPortmeirion Group PLC\n(the \"Group\")\n \nPreliminary results for the year ended 31 December 2024\n \nSales performance reflects challenging global economic backdrop.\nCautious optimism for 2025 with strategic priorities to restore profitable growth.\n \nPortmeirion Group PLC, the global homewares brands group, announces its preliminary results for the year ended 31 December 2024.\n \nCommenting on the Group's performance Mike Raybould, Chief Executive said:\n \n\"2024 was a disappointing year and our financial performance overshadowed good growth in our Spode brand and improved profitability in the US, our largest sales market. Our customers reported strong sell through of our collections during the key Christmas period and Wax Lyrical, our home fragrance business also saw strong top and bottom line growth.\n \nAction is being taken across our operations to position the business for sustainable future growth and we are moving forward with clear priorities to return our established markets to growth, strengthen our balance sheet, invest in our premium brands and develop new international markets. Trading in 2025 has started positively and we are cautiously optimistic at this early point in the year, mindful of the headwinds many businesses are facing in this uncertain economic climate.\"\n \nFinancial overview\n \nKey performance indicators (1)\n \n\n\n\n\n \n\n\n2024\n£m\n\n\n2023\n£m\n\n\nChange\n%\n\n\n\n\nRevenue\n\n\n91.2\n\n\n102.7\n\n\n(11.2)\n\n\n\n\nHeadline profit before tax(2)\n\n\n1.1\n\n\n3.0\n\n\n(63.3)\n\n\n\n\nStatutory profit/(loss) before tax\n\n\n0.0\n\n\n(8.5)\n\n\n100.0\n\n\n\n\nHeadline basic earnings per share(2)\n\n\n8.04p\n\n\n21.36p\n\n\n(62.4)\n\n\n\n\nStatutory basic earnings/(loss) per share(5)\n\n\n2.50p\n\n\n(61.46)p\n\n\n104.1\n\n\n\n\nDividends paid and proposed per share (total in respect of the year)\n\n\n1.50p\n\n\n5.50p\n\n\n(72.7)\n\n\n\n\nFree cash flow(3)\n\n\n(3.7)\n\n\n4.4\n\n\n(184.1)\n\n\n\n\nNet debt(4)\n\n\n(12.1)\n\n\n(7.9)\n\n\n(53.2)\n\n\n\n\n \nNotes:\n(1) The key performance indicators (KPIs) have been reviewed and changed to those KPIs shown above which ensure focus on growing the business and profit and strengthening our balance sheet.\n(2) Headline measures exclude...