Pottery maker smashes its sales record
POTTERY maker Portmeirion has achieved a seventh consecutive year of record sales enabling it to continue to increase its dividend.
Growth in the UK and USA pushed the group’s sales up by 12% to £68.7m in 2015, while pre-tax profits grew slightly faster, up 14% to £8.6m.
This has resulted in a increased dividend of 30p, which the group has said is part of its “progressive dividend policy” which sees it deliver a level of dividend that is covered by at least two-times earnings.
Dick Steele, non-executive chairman said: “Our core values of innovation, targeted product development and operational excellence remain unchanged. Trading in the first two months of the current year is ahead of the comparative period in 2015. The outlook for 2016 is positive.”
The Stoke-on-Trent group, which employs nearly 700 people, makes products under four brands – Portmeirion, Spode, Royal Worcester and Pimpernel – that have an international and historic appeal.
The manufacturer’s largest market is the United States, followed by the UK, which between them account for nearly 60% of its total sales. Both markets grew in 2015 but the company sounded a cautionary note about the effects of political uncertainties caused by the presidential election and the EU referendum in the months ahead.
