Pottery group Portmeirion expecting fifth consecutive year of record sales

POTTERY group Portmeirion has announced that following strong trading through the crucial final quarter of 2013 it is expected to report record revenues for the year to December 31.

The Stoke-on-Trent group also said it expected pre-tax profit to be in line with market expectations.

The group said year-end revenues were likely to be more than £58m, approximately 5% up on 2012. This is the fifth consecutive year in which it has achieved record sales.
 
The group closed the year with a net cash balance of some £6m (2012: £7.5m). This was after spending £3.9m to acquire the long leasehold interest in its Stoke-on-Trent warehouse during the year.
 
Dick Steele, Portmeirion’s non-executive chairman, said: “I am delighted with the achievement of another record level of sales. The economic conditions in many of our markets remain challenging but we continue to drive growth through our strong brands, innovative designs and attention to quality.”

The group is expected to publish its preliminary results for the year ended December 31, 2013 on March 20, 2014.