Record revenues at Potteries homewares giant
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Portmeirion, the Potteries designer, manufacturer and worldwide distributor of homewares under the Portmeirion, Spode, Royal Worcester, Pimpernel, Wax Lyrical and Nambé brands, has reported “excellent” trading for the six months ending June 30.
The firm says it has not only recovered to its pre-pandemic levels but is now exceeding them with sales up 24% compared to two years ago in H1 2019.
Portmeirion has reported record revenue of £43.1m, an increase of 35% over the prior year (2020: £32m) and 24% over pre Covid-19 levels (2019: £34.9m).
Headline profit before tax1 was £1.5m (2020: loss before tax £2.7m, 2019: profit before tax £500,000).
Mike Raybould, chief executive, said: “We have seen strong trading in the first half of the financial year, including a significant benefit from the focus on our online transformation strategy. Since the period end trading has continued that trend into the first two months of the second half of the financial year.
“Looking forward we continue to have a strong order book across our key markets. While we are cognisant of the ongoing, widely reported disruption and volatility in global supply chains we are confident the accelerated strategic investments we are making across our business will enable a strong path of growth in the next few years.