More record sales for Portmeirion
Stoke-on-Trent pottery and tableware business Portmeirion expects to report record revenues as sales in its three largest markets – the US, UK and South Korea – all increased in 2011.
The group said in a trading statement turnover grew by about 4 per cent to £53m for the year to 31 December.
Profit before exceptional items and taxation are also set to be in line with market expectations.
It is the third year running Portmeirion has reported record revenues despite the continuing "difficult economic environment" and an adverse US dollar exchange rate effect.
The company has also ended the year with a strong cash position, it told the Stock Exchange. Its net cash balance was £6.8m compared with £6.2m in the previous 12 months.
Non-executive chairman Dick Steele said: "This robust performance has been achieved in the most challenging of economic environments. Our worldwide sales channels, strong brands, emphasis on design and insistence on quality all continue to underpin the success of our business."
Preliminary results for the year are expected to be announced on 22 March.
