9th Mar 2016 09:49
LONDON (Alliance News) - Homewares manufacturer Portmeirion Group PLC on Wednesday reported higher pretax profit and revenue for 2015 and hiked its dividend on a positive outlook for 2016.
The company said pretax profit increased to GBP8.6 million in the year to the end of December, a 14% rise on the GBP7.6 million posted in 2014, as revenue grew to GBP68.7 million from GBP61.4 million, up 12%.
The group saw revenue growth in the US, UK and Asia in the year, though a temporary slowdown looks to have emerged in its South Korean business, which Portmeirion blamed on economic conditions in the country and "softened" attitudes towards luxury goods.
The company will pay a final dividend of 23.90 pence per share, taking its total payout to 30.00p, up 13% on the 26.50p 2014 payout.
"We are delighted to be reporting another record year. Our core values of innovation, targeted product development and operational excellence remain unchanged," said Dick Steele, non-executive chairman of Portmeirion.
Steele said sales in the first two months of 2016 were ahead year-on-year and the group finished work on its new kiln in 2015, meaning this is now in production and should support further progress in 2016.
Portmeirion shares were up 5.5% to 1,139.80p.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Portmeirion