Portmeirion Group (with brands including Portmeirion, Spode, Royal Worcester, Pimpernel and Wax Lyrical) has announced that it expects to report record revenue of at least £89.2 million for the year ended December 31 2018.
The Group highlights that this is ahead of market expectations and is driven by strong growth across its key markets including the UK, US and South Korea.
The growth represents an increase of 5.2% over the previous year. This is the tenth consecutive year in which the Group has achieved record sales. At a constant US dollar exchange rate, total Group revenue increase would have been nearer 6.8%.
The Group is reaping rewards from its ‘ongoing focus’ on its own online sales, which yielded 20% growth over 2017. Meanwhile, Portmeirion Group’s home fragrance businss (acquired in 2016) continues to thrive, growing more than 11% year on year.
The Group expects to announce its preliminary results for the year December 31 2018 on Thursday 21 March 2019.
Dick Steele, non-executive chairman, said: “We are delighted to complete our tenth consecutive year of record sales. Our strategy of geographical diversification backed by product development and our portfolio of leading homeware brands continues to drive our business forward strongly. We will continue to invest in growing our business and look forward with confidence to 2019.”
Top: Portmeirion Group hq in Stoke-on-Trent.
