Profits up at Portmeirion
Stoke-on-Trent pottery and tableware business Portmeirion has reported a 37 per cent rise in profit for the six months to 30 June 2011.
The company grew pre-tax profit after exceptional items to £1.4m from £1m the previous year.
It increased revenue by 6 per cent to £22.3m, but profit margins are higher because of the operational gearing of the company, improved economies of scale in warehousing and distribution, and manufacturing efficiencies.
The company's highlights for the year include winning a Queen's Award for Enterprise in the category of International Trade, which was followed up by a visit from David Cameron in April.
Dick Steele, non-executive chairman, said: "This is another strong performance, improving on the record results of last year, and achieved despite challenging global conditions.
"We have made great progress in aligning the business for future growth and we are confident of the group's prospects."
Portmeirion said it is confident of building upon this success with a strong order book for the rest of 2011.
