Pottery firm to smash targets with record revenue
Pottery producer Portmeirion has said it expects to report record revenue for 2018 of at least £89.2m, driven by strong growth across key markets including the UK, US and South Korea.
The Stoke-on-Trent manufacturer, which produces and distributes products under the Portmeirion, Spode, Royal Worcester and Wax Lyrical brands, said the growth for the year to the end of December represents an increase of 5.2% over the previous year and is the tenth consecutive year in which it has achieved record sales.
At a constant US dollar exchange rate, total group revenue increase would have been nearer 6.8%, the group said.
Portmeirion’s home fragrance business, which it acquired in 2016, continued to thrive, growing more than 11% year on year, while an ongoing focus on the group’s online sales yielded 20% growth over 2017.
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.”