Record sales for Wax Lyrical and Royal Worcester producer
Pottery manufacturer Portmeirion said it expects sales to be at least 10% above current market expectations after a bumper Christmas trading period.
The Wax Lyrical and Royal Worcester producer says it experienced an “excellent” Christmas period, with very high demand for its consumer homeware brands around the world.
The company expects sales to be at least £104m for 2021, 18% above 2020 sales of £87.9m and 12% ahead of pre-Covid sales of £92.8m in 2019.
The figures represent the highest ever level of sales for the group, driven by progress on its strategy in developing new sales channels, particularly online.
Profit before tax will be at least £7m, an increase of 9% over current consensus market expectations and a multiple increase compared to £1.4m in 2020.
Mike Raybould, chief executive, said: “I am delighted with the progress we have made as a business. Our sales result – approximately 12% above pre-Covid highs – is a real testament to the changes we are driving through our business and the experience and efforts of our teams across the world who continue to navigate the many challenges that Covid still presents.
“The ongoing execution of our strategy allows us to reach more customers through investing in and developing online channels, launching new product and building-out new markets.”
