Pottery manufacturer Portmeirion Group has announced record revenues of more than £53 million last year – up four per cent on 2010.
Portmeirion (PMP), based in Stoke-on-Trent, has released full year results revealing pre-tax profits before exceptional items and tax of £6.3 million, an increase of 16 per cent.
This is the third year running that Portmeirion has reported record revenues despite the continuing difficult economic environment and an adverse US dollar exchange rate effect.
Profit before tax increased nearly 21 per cent to £6.3 million and the company reported record pre-exceptional EBITDA of £7.4 million.
Total dividend paid and proposed for 2011 increased by 13 per cent to a record 19.60p.
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.”
Production volumes were up by 18 per cent on the prior year and 2011 sales in its three largest markets, the US, the UK and South Korea all showed increases over 2010.
The group said its net cash balance was £6.8 million at the end of 2011, compared to £6.2 million in 2010.
