Business
Trading update
Trading update.
About this update from Portmeirion Group Plc
[{"type":"text","content":"\n \nRNS Number : 1952C Portmeirion Group PLC 18 January 2018 \n\n18th January 2018\n \nPORTMEIRION GROUP PLC\n('Portmeirion' or 'the Group')\n \nTrading update \nRecord sales for the ninth consecutive year\n \n \nPortmeirion, the manufacturer and worldwide distributor of high quality homewares under the Portmeirion, Spode, Royal Worcester and Wax Lyrical brands, is delighted to confirm that it expects to report record revenue for the year ended 31 December 2017 of over £84.5 million. \n \nThis represents an increase of at least 10% over the previous year and is the ninth consecutive year in which we have achieved record sales. Excluding the full year impact of the Wax Lyrical business (which was acquired by the Group on 4 May 2016), like-for-like sales growth exceeds 5%. \n \nAt a constant US dollar exchange rate our total Group revenue increase would have been nearer 8%.\n \nWe are also pleased to confirm that we expect profit before taxation for the year to 31 December 2017 to be slightly ahead of market expectations.\n \nWe expect to announce the Group's preliminary results for the year ended 31 December 2017 on Thursday 15 March 2018. The Board remains committed to a progressive dividend policy.\n \nDick Steele, Non-executive Chairman, said:\n\"We are delighted with another record sales result. In particular, our year-on-year sales growth strengthened as we moved through the year and the second half results exceeded management expectations. Highlights included the United States, export markets and online sales that achieved double digit revenue growth in the second half aided by well received new product launches. With this momentum we therefore look forward with confidence to 2018.\"\n \nThis announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 (\"MAR\").\n \nEnquiries:\n \n\n\n\n\nPortmeirion Group PLC:\n \n\n\n\n\nDick Steele, \nNon-executive Chairman \n\n\n+44 (0) 1782 744721\n\n\[email protected]\n\n\n\n\nMike Raybould, \nGroup Finance Director \n\n\n+44 (0) 1782 744721\n\n\[email protected]\n\n\n\n\n \n\n\n \n\n\n \n\n\n\n\nHudson Sandler:\n\n\n\n\nDan de Belder/ Fern Duncan\n \n\n\n+44 (0) 207 796 4133\n \n\n\[email protected]...