Portmeirion reports strong 2011
Portmeirion Group, an AIM-listed pottery group, recorded a rise in revenue, pre-tax profit and earnings per share for the year ended December 31st.
Portmeirion Group, an AIM-listed pottery group, recorded a rise in revenue, pre-tax profit and earnings per share for the year ended December 31st.
Revenue increased by 4.6% from £51.2m to a record £53.6m, while pre-tax profit rose to £6.3m from £5.4m (£5.2m after exceptional items), up by 16.2%. Earnings per share leapt 25.9% from 34.91p to 43.94p.
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Dick Steele, Non-executive Chairman said: "Portmeirion is in fine condition. Our brands are stronger and more valuable and our product ranges are deeper and wider than at any time in our 52 year history. We remain confident for the future.
"While we have experienced a slower start in 2012 than we enjoyed in 2011, this was expected and our confidence remains for the full year."
The firm finished the year with cash balances of £6.8m (2010: £6.2m).
The share price rose 5.98% to 487.50p by 14:16.
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