Portmeirion Group PLC – Final Results

Portmeirion Group PLC release preliminary results for the year ended 31 December 2018.

Financial summary

	2018 £m	2017 £m	Increase %
Revenue	89.6	84.8	5.7
Pre-tax profit	9.7	8.8	10.1
EBITDA	11.8	11.0	7.5
Basic earnings per share	72.12p	65.07p	10.8
Dividends paid and proposed per share in respect of the year	37.50p	34.66p	8.2

Highlights: 

Financial

• Tenth consecutive year of record Group revenue which increased by 5.7% to £89.6 million (2017: £84.8 million).
• Profit before tax increased by 10.1% to £9.7 million (2017: £8.8 million).
• EBITDA increased by 7.5% to £11.8 million (2017: £11.0 million).
• Earnings per share increased by 10.8% to 72.12p (2017: 65.07p).
• Total dividends paid and proposed for 2018 increased by 8.2% to 37.50p per share (2017: 34.66p).
• Net cash improved to £2.3 million (2017: £1.6 million).
• Operating margin increased to 11.1% (2017: 10.7%).

Operational

• Strong progress across key markets of UK, US and South Korea.  
• Home fragrance division (acquired in 2016) delivers sales growth of 11.1%.
• Online sales growth of 24.4% over the prior year.
• Successful new product launches including Sara Miller London Portmeirion and line extensions in Portmeirion Botanic Garden and Royal Worcester Wrendale Designs.
• For 2019, three exciting new UK manufactured ranges launched – Portmeirion Botanic Garden Harmony, Portmeirion Atrium and Spode Kingsley.
• Appointed Angela Luger as a Non-executive Director on 1 March 2019.  

Dick Steele, Non-executive Chairman commented:

“We are delighted to be reporting a tenth consecutive year of record revenue and another record profit before taxation. Our strategy and core values remain unchanged. We are focused on driving profitable sales growth through new product introduction, developing our markets, investing behind our brands and enhancing our operational capabilities and efficiency supported with complementary strategic acquisitions.

We look forward into 2019 with confidence and at this very early stage of the year expect trading to be in line with expectations for the full year.”