http://www.portmeiriongroup.com/template-8.php?page=47¤t_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
