Portmeirion Group posts ninth consecutive year of record sales and pre-tax profit

Portmeirion Group’s sales rose 10.6% to £84.8 million and pre-tax profit lifted 13% to £8.8 million for the year to December 31 2017.

The tabletop supplier, which encompasses the Portmeirion, Spode, Royal Worcester, Pimpernel and Wax Lyrical brands, said it made ‘strong progress on growth and diversification in export markets’ over the period.

The Stoke-on-Trent company added that it completed the integration of home fragrance business Wax Lyrical, which was acquired in 2016, including the launch of over 200 home fragrance products under the existing Portmeirion Group brands.

The senior management team was also strengthened with the appointments of Mike Raybould as group finance director, Mick Knapper as operations director, Moira MacDonald as company secretary and Andrew Andrea as a non-executive director.

Portmeirion Group non-executive chairman Dick Steele commented: “We are delighted to be reporting a ninth consecutive year of record revenue and a record profit before taxation. Our core values of innovation, targeted product development and operational excellence remain unchanged, and we are pleased to report on the successful integration of Wax Lyrical into the group.”

He noted that trading in the first two months of the current financial year is ahead of the comparative period in 2017. “The outlook for 2018 is positive and we remain confident for the future,” he said.

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