Sales boost sees homewares giant upgrade full-year guidance
Homewares manufacturer Portmeirion has reported that it expects revenue for the year to December 31 to be “at least” 6% ahead of previous guidance.
A strong second half performance by the firm saw turnover come in at £87m – down from £92.8m in 2019, but ahead of expectations, meaning that profits will also be up on guidance issued earlier in the financial year.
Mike Raybould, chief executive, said: “Although 2020 has been a challenging year and our sales markets have been significantly impacted by Covid-19, we are hugely encouraged by the resilience of our brands and most recently our strong seasonal sales performance.
“We have taken a long term view through 2020 and increased investment spend behind our key strategic objectives; in particular online sales channel development and the efficiency and capabilities of our factories and warehouses. We believe this will accelerate growth in future years. We have an exciting pipeline of new products to launch around the world in 2021 which we expect will contribute to sales growth across our key sales markets.
“We remain confident in our strategic plan, the strength of our brands and the long term opportunities to grow our business.”