Portmeirion to expand brand after sales boost
Portmeirion, the AIM listed pottery manufacturer, has said that it plans to launch more than 250 new products next year after revealing strong interim results this morning. The Staffordshire-based company said that group revenue had grown 24 per cent for the six months to June 2010.
The group said that profit before exceptional items and taxation for the year to 31 December 2010 will be “significantly ahead of market expectations”. It also said that sales of the Royal Worcester and Spode brands had exceeded the target of £12m, set on 24 April last year.
Portmeirion said that its export division had per formed “very well”, most notably in Canada, the US and South Korea. Group revenues for the six-month period to 30 June 2010 were 24 per cent ahead of last year, and worldwide sales in the Spode and Royal Worcester brands had grown by over 40 per cent on last year. A portfolio of 250 new prodcts is now planned for next year.
Dick Steele, non-executive chairman of Portmeirion, said: "We are delighted that 2010 will be another record year for sales as we continue to capitalise on the Spode and Royal Worcester brands. Our investment in new products under both these and our Portmeirion and Pimpernel brands has contributed greatly to our revenue growth."
