Sales grow at Portmeirion
Ceramics manufacturer Portmeirion said it has posted record revenue for the year ending 31 December 2010. The Staffordshire-based company said sales rose 18 per cent compared to its 2009 results, hitting £51.2m by the year-end.
Profit before tax increased 41 per cent to £5.2m, compared with its 2009 result of £3.7m.
Pre-tax profit before exceptional items also rose 38.8 per cent over the year to £5.4m.
The company said its balance sheet remained “very strong”, as net cash increased from £4.4m in 2009 to £6.2m.
Dick Steele, non-executive chairman of Portmeirion, said: “We are delighted to report another record year with trading above market expectations. We achieved growth across all four brands, and sales of Spode and Royal Worcester were well above the figure we had forecasted.
“We have plans to further increase our spend on product development and have already launched over 250 new products in 2011.
“The new financial year has started well with revenues for the first two months of 2011, 15 per cent above the corresponding period last year. The outlook for the remainder of 2011 is positive.”
