Exporter reveals profit improvement

Stoke-on-Trent manufacturer Portmeirion has overcome its disappointing forecasts of last year to get its performance back on track.
The stock market-listed firm, which owns the Royal Worcester and Wax Lyrical brands, said its 2016 profits will be “slightly ahead” of market expectations.
Revenues will be up 11% on 2015, and above £76m. The company, which exports around the world, said sales growth was around 7% based on a constant US dollar exchange rate.
Dick Steele, non-executive chairman, said: “As we advised in the summer, our Indian and South Korean markets have been challenging in 2016; total revenues from these two markets were over £7m below the reported revenue for these markets in 2015.
“Nevertheless, as a Group we have again produced record revenues, a result which shows how resilient the Group is to such external shocks. We look forward with confidence.”

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