Pottery giant Portmeirion is predicting sales to increase more than 30 per cent in the first half of 2021 as trading continues to improve around the world.
In a recent trading update, the Stoke-based company revealed that it expects sales for the six months to June 30 to rise by 34 per cent to around £43 million – up from £32 million for the same period last year.
Portmeirion – which employs around 550 people at its London Road factory – owns a number of brands including Spode, Royal Worcester, Pimpernel, Wax Lyrical and Nambe.
It says it has seen sales growth across its three biggest geographical markets – the UK, USA and South Korea – in the first six months of 2021, and has enjoyed strong sales growth across its online channels.
The company has also agreed to resume dividend payments for shareholders given the “continued and sustained improvement” in trading.
Portmeirion chief executive Mike Raybould said: “We have continued to trade strongly in May and June and it is particularly pleasing to see that we are achieving like-for-like sales growth over pre Covid-19 trading levels, despite continuing disruption in our markets due to the UK’s lockdown in the first quarter of 2021 and ongoing Covid-19 related global shipping and supply chain delays.
“This performance demonstrates the strategic progress we are making as a business, including our online and digital transformation and rest of world sales growth.
“We have a strong global order book going into our important second half trading period.
“Whilst we remain cognisant of the ongoing supply chain-related challenges, we remain confident of the trading outlook for the rest of 2021.”
In March, Mr Raybould revealed that he is “encouraged” for 2021 after seeing Portmeirion’s strong performance in the second half of 2020 continue into this year.
It came after the company reported a fall in revenue for 2020 following a challenging year in business.
For the 12 months to December 31, revenue dropped from £92.8 million to £87.9 million and pre-tax profit fell by £6 million to £1.4 million.