http://www.portmeiriongroup.com/template-8.php?page=47&current_section=378

Portmeirion Group PLC is a British group based in Stoke-on-Trent and is listed on the Alternative Investment Market of the London Stock Exchange.

A significant force in the homewares industry, the Portmeirion Group, encompasses the Portmeirion, Spode, Royal Worcester and Pimpernel brands. It is a market leader in high quality and innovatively designed tableware, cookware, giftware and tabletop accessories.

The Group employs around 500 staff and has a wholly owned subsidiary in North America, Portmeirion USA, which distributes its product from Connecticut and has a main showroom at 41 Madison Avenue, New York. The Group also has a joint venture in Canada based in Toronto.



In Spode and Royal Worcester, Portmeirion owns two of the world's most renowned ceramics brands. Portmeirion's combination of manufacturing skill and marquee brands has forged an incredibly strong business.

Portmeirion has not cut its dividend to shareholders since 1988. With its most recent results, the company reported a significant (and growing) net cash position.

While the Diamond Jubilee provided a boost to sales that won't be repeated, North America is actually Portmeirion's largest market.

Although eps fell sharply for 2008, Portmeirion has managed an average of 17% compound annual earnings growth rate over the last five years. By the same measure, the dividend has been increasing at a rate of 7% per annum.

The shares trade at 11.5 times last year's earnings and 10.8 times the 2012 forecast. With the dividend yield expected to reach 4.1%, Portmeirion looks like a quality company trading at a reasonable price.

FINANCIAL CALENDAR
Financial Results
Final results announced March
Interim results announced August

Annual General Meeting May

Dividends
Final announced March
Final paid May
Interim announced August
Interim paid October

:-))

Global appetite for premium British brands Royal Worcester, Spode,Pimpernel and Portmeirion is helping Stoke-on-Trent headquartered homewares maker and distributor PORTMEIRION (PMP:AIM) deliver profitable growth amid testing market conditions. The £52m cap, which prides itself on its 'customer attentive design-led' business,is performing creditably in the UK market and also boasts bulging order books for export markets such as South Koreaand the US, its largest market.
Potential for better -than-expected export-led business over the key chrismas selling season means the Aim-listed firm could yet receive earnings upgrades to 2012 estimates, possibly as early as January's traditional trading update. Besides the export strengths Portmeirion is highly-cash-generative concern, having closed out the half year with £3.3m net cash in the coffers. For now, consensus estimates point to a commendable 6% taxable profits increase to £6.7m for the current calendar year, 8% EPS improvement to 46.6p and 16% growth in the dividend to 20.2p. Based on those metrics, a prospective PE ratio of 10.7 looks fairly attractive . Dividend cover of 2.3 times adds to the attractions of the stock, currently offering a yield of 4% that beats anything on offer from the bank.

Trading Statement
RNS
RNS Number : 9625V
Portmeirion Group PLC
21 January 2013





21 January 2013



Portmeirion Group PLC ('Portmeirion' or 'the Group')



Trading Update



Portmeirion, the AIM listed manufacturer and worldwide distributor of high quality homewares, is pleased to confirm that, following strong trading through December, it expects its profit before taxation for the year to 31 December 2012 to be in line with market expectations.



The Group expects to report record revenues for the year ended 31 December 2012 of over £55 million, approximately 3% above last year. It is gratifying to achieve record sales for the fourth consecutive year despite the continuing difficult economic conditions in most of our major markets. The UK and South Korean markets continued to perform well. However, revenues in the US were affected by a number of adverse factors, including Superstorm Sandy, which has resulted in US sales being below last year.



The Group continued to improve its cash position during 2012, closing the year with a net cash balance of over £7.0 million at 31 December 2012 (2011: £6.8 million).



We expect to announce the Group's preliminary results for the year ended 31 December 2012 on 21 March 2013.



Dick Steele, Non-executive Chairman, said:



"The achievement of another record level of sales in such challenging conditions is highly satisfying. Our established strategy of product design, product quality, a powerful international sales team and financial prudence continues to serve us well. In particular, our diversity of export markets has enabled us to balance harsh conditions in the US with opportunities elsewhere in the world."

Final Results

Highlights:



Financial

· Record Group revenue of £55.5 million, up by 3.6% on the previous year (2011: £53.6 million)

· Profit before tax increased 6.6% to £6.8 million (2011: £6.3 million)

· Total dividend paid and proposed for 2012 increased by 11.2% to a record 21.80p (2011: 19.60p)

· Balance sheet remains very strong: cash balance up to £7.5 million (2011: £6.8 million)





Operational

· Revenue growth across all four brands - Portmeirion, Spode, Royal Worcester and Pimpernel

· Launched over 360 new products in 2013 including Sophie Conran for Portmeirion metal cookware, Water Garden, and a 60th anniversary of the Queen's Coronation collection

· UK website re-launched in 2013 to drive further sales growth

· Appointment of Phil Atherton as Group Sales and Marketing Director





http://www.moneyam.com/action/news/showArticle?id=4558963

Seems to be on the move.

A buy in this weeks Shares mag, panmure Gordon initiated coverage with a 657p price target implying 20%-plus upside. Also a sub 11 PE.

Portmeirion Group PLC (PMP:LSE) set a new 52-week high during today's trading session when it reached 629.70. Over this period, the share price is up 27.69%.

Share price forecast




The one analyst offering a 12 month price target expects Portmeirion Group PLC share price to rise to 694.00 in the next year from the last price of 620.00

In this weeks shares - Portmeirion looks set for further earnings upgrades, so the shares seem ready to shine. A confident interim statement next month from ceramics manufacturer and distributor Portmeirion could get a cracking reception as the company highlights sales momentum across the pond and success with new product introductions. Prospects are improving in America, where consumer confidence is rising and the housing market continues to recover. The potential boost to British brand sales globally from a new arrival in the Royal household is considerable at a time when well-financed Portmerion is launching a prolific number of new product lines.
House broker Panmure Gordon's 2013 forecasts look for £7m in profits, earnings per share (EPS) of 50p and a 23.8p dividend this year, ahead of 6% growth in profits and EPS to £7.4m and 53p respectively in 2014, when a 25.9p shareholder reward looks likely.

Interim results

RNS


RNS Number : 6619K

Portmeirion Group PLC

01 August 2013






1 August 2013



PORTMEIRION GROUP PLC

('Portmeirion' or 'the Group')



Interim results for the six months ended 30 June 2013









Portmeirion Group is pleased to announce its results for the six months ended 30 June 2013 which are in line with market expectations, despite challenging global conditions and the effect of Anti-Dumping Duty on ceramic products imported from China into the EU.



Highlights



· Revenue of £23.8 million up by 4% on the comparative period (2012: £22.8 million).

· Profit before tax down by 38% to £0.9 million (2012: £1.4 million) largely due to the negative impact of Anti-Dumping Duty on ceramic products imported from China into the EU.

· EBITDA down by 22% to £1.5 million (2012: £2.0 million).

· Earnings per share down by 37% to 6.03p (2012: 9.57p).

· Interim dividend increased by 11% to 5.00 pence per share (2012: 4.50 pence per share).

· Exceptional growth in Korean market.

· Launch of new US website following revamp of UK website early in 2013.

· Strong forward orders for Christmas.

· Production at our Stoke-on-Trent factory is at an all time high.

· Completed £3.9 million purchase of long leasehold interest in warehouse and offices in July 2013.







Dick Steele, Non-executive Chairman, commented:



"The performance of Portmeirion Group in the first six months of 2013 has been in line with our expectations and we remain confident of the outcome for the full year to 31 December 2013."

Portmeirion Group: Cantor Fitzgerald raises target to 700p from 650p, reiterates buy.

The Mail today - Portmeirion is targeting royal baby bonanza.

In IC this week - Portmeirion dips on dumping duty.

60% of Portmeirion's products from earthenware to glassware were imported mainly from China. Then the EU imposed an anti-dumping duty on Chinese-made tableware, ranging up to almost 60%. Initially, Portmeirion thought it could move production elsewhere (to Bangladesh) or to other Chinese factories because the duty is calculated on a factory-by-factory basis. But maintaining quality levels proved more difficult than expected. The upshot is that Portmeirion paid £400,000 of duty in the half year and that accounts for most of the profit fall.
The good news is that a combination of price rises, the main Christmas selling season still to come and a lift in internet sales in the UK and US should mean higher 12 month sales and profits. The importance of the second half cannot be underestimated. Last year it accounted for 59% of sales but 80% of pre-tax profits.
The current period is already benefiting from ''strong'' Christmas orders and good sales of prince George mugs, plates and dishes. Historically the Americas have been Portmeirion's largest market,but in the last six months the region has been overtaken by South Korea. Broker Panmure Gordon forecasts adjusted 2013 pre-tax profits of £7.1m (£6.75m in 2012) which suggests EPS of 51.5p, up from 48.4p.

20 March finals

Sunday Telegraph

Portmeirion, a crockery and glassware maker based in Stoke-on-Trent, is achieving record sales by exporting British designs across the world, manufacturing household names such as Spode and Royal Worcester.

Its floral designs are a hit in Asia, with the South Korean market now contributing a quarter of group sales and increasing by 22 per cent in the past year.

The UK has seen a steady sales increase but they have slowed in the company's largest markets in North America. A stake held by Fortress Financial Holdings has fallen from 28 per cent in 2010 to below 9 per cent.

This could be taken as a sign of a major shareholder selling at the top but it also reduces the risk of retail investors being at the whim of an activist investor.

With this risk removed, the share price should close its near-20 per cent discount to sector peer Churchill China.

Portmeirion makes half its crockery in China and new EU anti-dumping legislation hit it with higher taxes, but this was a small drag and full-year pre-tax profits rose 6.3 per cent to £7million, giving 52.8p in earnings per share.

The company said 2014 trading has started well and market consensus is for earnings per share to rise to 56p for this year. Buy.

Ex dividend -

23 Apr 2014 Portmeirion Group PLC (19 P)

Interim Results

RNS


RNS Number : 7994N

Portmeirion Group PLC

31 July 2014






31 July 2014



PORTMEIRION GROUP PLC

('Portmeirion' or 'the Group')



Interim results for the six months ended 30 June 2014









Portmeirion Group is pleased to announce a strong performance for the six months ended 30 June 2014 in line with market expectations, despite challenging global conditions.



Highlights



· Revenue of £24.5 million up by 3% on the comparative period (2013: £23.8 million).

· Profit before tax up by 42% to £1.2 million (2013: £0.9 million).

· EBITDA up by 21% to £1.9 million (2013: £1.5 million).

· Earnings per share up by 53% to 9.21p (2013: 6.03p).

· Interim dividend increased by 10% to 5.50 pence per share (2013: 5.00 pence per share).

· Sales growth of 7% in UK driven by increase in online sales of more than 50%.

· Production at our Stoke-on-Trent factory continuing at record levels with average of 147,000 pieces per week for H1 (full year 2013: 128,000 pieces per week).

· Strong order book for H2.







Dick Steele, Non-executive Chairman, commented:



"The performance of Portmeirion Group in the first six months of 2014 has been in line with our expectations and we remain confident of the outcome for the full year to 31 December 2014."

Results seem to be hitting the spot!

Ex-Dividend

03 Sep 14 Portmeirion Group PLC [PMP] (5.5 p)

Shares - The Stoke on Trent business will profit from economic strengthening in the US and growing sales online.

Ex-Dividend

03 Sep 14 Portmeirion Group PLC [PMP] (5.5 p)

PORTMEIRION GROUP

19 Jan 2015 07:00:07



Portmeirion Group



RNS Number : 4450C

Portmeirion Group PLC

19 January 2015






19 January 2015







Portmeirion Group PLC ('Portmeirion' or 'the Group')



Trading Update



Portmeirion, the AIM listed manufacturer and worldwide distributor of high quality homewares, is pleased to confirm that, following strong trading through the final quarter of 2014, it expects profit before taxation for the year to 31 December 2014 to be in line with market expectations.



The Group expects to report record revenues for the year ended 31 December 2014 of over £61 million, approximately 5% above last year. This is the sixth consecutive year in which we have achieved record sales.



Demand for the products we make in our UK factory has been particularly strong in 2014 and continues to be so. Consequently, the Board has approved the investment of some £1.5 million in a new kiln and other equipment which will increase the capacity of our UK factory by over 50%. The kiln will be commissioned in the final quarter of 2015.



We expect to announce the Group's preliminary results for the year ended 31 December 2014 on 12 March 2015. The Board remains committed to a progressive dividend policy.



Dick Steele, Non-executive Chairman, said:



"I am delighted with the achievement of another record level of sales. Our confidence in the future of the business is underlined by the additional investment announced today."
-------------------------------------------------------------------------------------------------

19 Jan Panmure Gordon 1,080.00 Buy

Preliminary results


Highlights:



Financial

· Sixth consecutive year of record Group revenue with growth of 5.3% to £61.4 million (2013: £58.3 million)

· Profit before tax increased 8.6% to a record £7.6 million (2013: £7.0 million)

· Total dividend paid and proposed for 2014 increased by 10.4% to a record 26.50p (2013: 24.00p)

· Revenue growth in key markets of USA, UK and South Korea

· Strong revenue growth of over 25% in other export markets





Operational

· Approved £1.5 million investment in a new kiln and other equipment which will increase manufacturing capacity in the UK by over 50%

· Growth in online revenue of over 70% to £2.0 million (2013: £1.1 million)

· Record production levels with 17% increase to 150,000 best pieces per week (2013: 128,000)

· Exciting new ceramic range with Ted Baker announced

· 80 new jobs created
//////////////////////////////////////////////////////////////////////////////////////////////////


12 Mar Panmure Gordon 1,080.00 Buy

Shares -At 892.5p, Portmeirion offers 21% upside towards
the broker’s price target and an attractive, wellcovered
prospective yield of 3% for 2015.

8 Apr Panmure Gordon 1,000.00 Buy

EX DIVIDEND 23 Apr 2015 Portmeirion Group PLC (21 P)

Interim results
RNS
RNS Number : 2465V
Portmeirion Group PLC
06 August 2015

6 August 2015



PORTMEIRION GROUP PLC

('Portmeirion' or 'the Group')



Interim results for the six months ended 30 June 2015









Portmeirion Group is pleased to announce a strong performance for the six months ended 30 June 2015 in line with market expectations in respect of the full year run-rate.



Highlights



· Revenue of £27.9 million up by 14% on the comparative period (2014: £24.5 million).

· Profit before tax up by 45% to £1.8 million (2014: £1.2 million).

· EBITDA up by 23% to £2.3 million (2014: £1.9 million).

· Earnings per share up by 41% to 13.01p (2014: 9.21p).

· Interim dividend increased by 11% to 6.10 pence per share (2014: 5.50 pence per share).

· Strong sales growth in UK, USA and other export markets.

· The £1.5 million project to expand production capacity is on track with the new kiln expected to be commissioned in final quarter of 2015.

· Production at our Stoke-on-Trent factory continuing at record levels with average of 155,000 best pieces per week for H1 (full year 2014: 150,000).

· Strong order book for H2.







Dick Steele, Non-executive Chairman, commented:



"The performance of Portmeirion Group in the first six months of 2015 has been strong. We remain confident of the outcome for the full year to 31 December 2015."

6 Aug Panmure Gordon 1,013.00 Buy
6 Aug Cantor... N/A Under Review

15 Oct Cantor... 1,100.00 Buy

new-record-aim-star-portmeirion

Trading Update
RNS
RNS Number : 0979M
Portmeirion Group PLC
18 January 2016



18 January 2016







Portmeirion Group PLC ('Portmeirion' or 'the Group')



Trading Update



Portmeirion, the AIM listed manufacturer and worldwide distributor of high quality homewares, is pleased to confirm that it expects profit before taxation for the year to 31 December 2015 to be slightly ahead of market expectations.



The Group expects to report record revenues for the year ended 31 December 2015 of over £68 million, an increase of at least 11% over the previous year. This is the seventh consecutive year in which we have achieved record sales. At a constant US dollar exchange rate our revenue increase would have been at least 8%.



The new kiln, which we announced last year, was installed and commissioned during 2015 within timescale and budget without any disruption to existing production. The kiln will be brought into live production from the beginning of February to meet expected demand for UK manufactured product in 2016.



We expect to announce the Group's preliminary results for the year ended 31 December 2015 on 9 March 2016. The Board remains committed to a progressive dividend policy.



Dick Steele, Non-executive Chairman, said:



"I am delighted with the achievement of another record level of sales. Sales performance in the UK has been particularly robust throughout 2015, with strong growth in online sales, and the US performed strongly in the run up to Christmas. We look forward with confidence."

18 Jan Panmure Gordon 1,059.00 Buy
18 Jan Cantor... 1,100.00 Buy

Preliminary results

Highlights:



Financial

· Seventh consecutive year of record Group revenue which increased by 11.9% to £68.7 million (2014: £61.4 million)

· Profit before tax increased 13.6% to an all-time high of £8.6 million (2014: £7.6 million)

· Total dividend paid and proposed for 2015 increased by 13.2% to 30.00p (2014: 26.50p)

· Revenue growth in USA, UK and Asia

· Stocks reduced by £2.8 million to £12.7 million (2014: £15.5 million)

· Cash balance increased to £11.1 million (2014: £5.9 million)





Operational

· New kiln installed within timescale and budget and now in production

· Ted Baker range wins Best Licensed Home Décor, Tableware or Housewares range at The Licensing Awards

· Attained Investors in People silver level and became first company in the UK to be awarded with the new Investment in Young People (IiYP) award

· 2016 celebrates 200th Anniversary of Blue Italian range

Broker Forecast - Cantor Fitzgerald issues a broker note on Portmeirion Group PLC
Cantor Fitzgerald today reaffirms its buy investment rating on Portmeirion Group PLC (LON:PMP) and raised its price target to 1200p (from 1100p). Story provided by StockMarketWire.com

Shares - Wax Lyrical looks an astute addition for Portmeirion. At £11.90 there is 17.6% upside towards Cantor's price target.

Trading Update

RNS


RNS Number : 4801D

Portmeirion Group PLC

07 July 2016










7 July 2016



Portmeirion Group PLC ('the Company' or 'Portmeirion')



Trading Update





Portmeirion, the manufacturer and worldwide distributor of high quality homewares under the Portmeirion, Spode, Royal Worcester and Wax Lyrical brands updates on prospects for the current year.



Total revenue for 2016 is expected to be ahead of 2015, notably because of the recent acquisition of the Wax Lyrical business. However, pre-tax profits are expected to be materially below the record level of £8.6 million reported for 2015. At the Annual General Meeting we reported an unexpected decrease in demand from Asian markets. In particular, sales to South Korea still show no signs of recovery and the performance of our distributor in India has continued to be extremely disappointing. In addition we have seen negative effects on demand in the UK before and following the leave vote at the EU referendum. The potential benefits of a weaker pound have yet to translate into firm overseas orders. However, the United States continues to perform well.



The Board does believe that this is a short term setback. Accordingly, it is our current intention to increase the 2016 interim dividend by approximately 14% in line with the increase in the final dividend for 2015 and with our previously stated policy. This will mean that dividend cover for 2016 will fall marginally below our historic guideline of two times; our longer term view is that we can accommodate a temporary reduction in cover.

Six share tips for value investors in 2017


Portmeirion
Share price: 800p  | Earnings yield: 8%  |  Dividend yield: 3.8%
Portmeirion is having a particularly difficult year in South Korea, its third biggest market, where it sells almost as much pottery as it does in the UK, its second biggest.
Even the US, where Portmeirion is prospering and earns over a third of revenue, will not save the company from a rare contraction in profit in 2016.
Portmeirion has enduring brands, though. Botanic Garden, popular in South Korea and the UK, was launched in 1972, while Spode Blue Italian celebrates its 200th anniversary this year.
Strong finances and a prosperous track record imply shareholders can hold in confidence for the dividend and a subsequent return to growth.

Portmeiron sees FY pretax profit slightly up on views

StockMarketWire.com

Portmeirion expects its FY 2016 pretax profit to be slightly ahead of market expectations, and confirmed that, as previously advised, its Indian and South Korean markets had been challenging during 2016.

It anticipated booking record FY revenues of more than £76m, an up at least 11% on the year. At a constant US dollar exchange rate our total Group revenue increase would have been nearer 7%.

"This is the eighth consecutive year in which we have achieved record sales," the company said.

The revenue contribution from Wax Lyrical, acquired in May 2016, was more than £10m. Wax Lyrical had performed in line with management's views.

Non-executive chair Dick Steele said that, as advised in the summer, Portmeiron's Indian and South Korean markets were challenging in 2016.

"Total revenues from these two markets were over £7m below the reported revenue for these markets in 2015," he noted.

"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."



At 8:08am: (LON:PMP) Portmeirion Group PLC share price was +27.5p at 975p


Story provided by StockMarketWire.com

19 Jan Cantor... 1,200.00 Buy
19 Jan Panmure Gordon 1,066.00 Buy

Trading update
RNS
RNS Number : 1952C
Portmeirion Group PLC
18 January 2018

18th January 2018

PORTMEIRION GROUP PLC
('Portmeirion' or 'the Group')

Trading update
Record sales for the ninth consecutive year


Portmeirion, the manufacturer and worldwide distributor of high quality homewares under the Portmeirion, Spode, Royal Worcester and Wax Lyrical brands, is delighted to confirm that it expects to report record revenue for the year ended 31 December 2017 of over £84.5 million.

This represents an increase of at least 10% over the previous year and is the ninth consecutive year in which we have achieved record sales. Excluding the full year impact of the Wax Lyrical business (which was acquired by the Group on 4 May 2016), like-for-like sales growth exceeds 5%.

At a constant US dollar exchange rate our total Group revenue increase would have been nearer 8%.

We are also pleased to confirm that we expect profit before taxation for the year to 31 December 2017 to be slightly ahead of market expectations.

We expect to announce the Group's preliminary results for the year ended 31 December 2017 on Thursday 15 March 2018. The Board remains committed to a progressive dividend policy.

Dick Steele, Non-executive Chairman, said:
"We are delighted with another record sales result. In particular, our year-on-year sales growth strengthened as we moved through the year and the second half results exceeded management expectations. Highlights included the United States, export markets and online sales that achieved double digit revenue growth in the second half aided by well received new product launches. With this momentum we therefore look forward with confidence to 2018."

Tipped in the daily Mail today

AGM Statement
RNS
RNS Number : 3367O
Portmeirion Group PLC
17 May 2018

17 May 2018

Portmeirion Group PLC
(the "Company" and the "Group")

AGM Statement



At the Company's Annual General Meeting to be held today at 12.00 noon, the Non-Executive
Chairman, Dick Steele, will make the following statement:

"Total Group sales are up 15% for the four months ended 30 April 2018 relative to the same period last year, driven by strong growth in both ceramic and home fragrance product divisions. On a constant currency basis total Group sales are 20% ahead of last year. We are delighted with the start to the year, however due to the seasonal nature of our business and the importance of second half trading we continue to expect full year profit before tax to be in line with market expectations."

17 May
Panmure Gordon
1,390.00
Buy

The royal wedding should give a boost.

Trading Update
RNS
RNS Number : 3481U
Portmeirion Group PLC
12 July 2018

12 July 2018

Portmeirion Group PLC
(the "Company" and the "Group")

Trading Update




Portmeirion, the manufacturer and worldwide distributor of high quality homewares under the Portmeirion, Spode, Wax Lyrical, Royal Worcester and Pimpernel brands, updates on trading for the first half of the current year.
The Group is pleased to announce that total Group sales are up 11% for the six months ended 30 June 2018 relative to the same period last year. On a constant currency basis, total Group sales are 15% up on last year.
We are delighted with the positive start to the year with strong progress in both our ceramic and home fragrance divisions. With the seasonal weighting of our business, trading in the second half of the year remains important to the Group. We remain confident that we will achieve profits for the full year in line with market expectations.
Interim results for the six months ended 30 June 2018 will be announced on 2 August 2018.

Interim Results
RNS
RNS Number : 5561W
Portmeirion Group PLC
02 August 2018

2 August 2018

PORTMEIRION GROUP PLC
('Portmeirion' or 'the Group')

Interim results for the six months ended 30 June 2018


Portmeirion Group is pleased to announce its performance for the six months ended 30 June 2018.

Highlights

· Revenue of £36.9 million up by 11.4% on the comparative period (2017: £33.1 million).
· Profit before tax up by 29.1% to £2.1 million (2017: £1.6 million).
· EBITDA up by 13.9% to £3.1 million (2017: £2.7 million).
· Earnings per share increased by 27.6% to 15.24p (2017: 11.94p).
· Interim dividend increased by 8.1% to 8.00p per share (2017: 7.40p per share).
· Net debt reduced by £0.4 million to £1.3 million (30 June 2017: £1.7 million).
· Good progress on growth and diversification in export markets.
· Home fragrance division (acquired 2016) delivers sales growth of 14.1%.
· Online sales growth of 13.5%.
· Successful new product launches including Sara Miller London Portmeirion and line extensions in Portmeirion Botanic Garden and Royal Worcester Wrendale Designs.

Dick Steele, Non-executive Chairman, commented:

"We are delighted with our strong first half trading performance, which benefits from new product launches and further diversification into new markets. Our strategy continues to deliver revenue and profit growth and we remain confident in our ability to meet full year market expectations."

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 (MAR).