Portmeirion Group PLC
LSE:PMP
Portmeirion Group PLC
Portmeirion Group Plc engages in the manufacture and trade of ceramic tableware and cookware products. The firm sells its product via United Kingdom and United States Websites and through a network of retail outlets, agents and distributors across the world. The firm consists of six homeware and fragrance brands, Portmeirion, Spode, Wax Lyrical, Royal Worcester, Pimpernel and Nambe. The Portmeirion offers a range of dinner plates, bowls, mugs, glassware and other tableware products. Spode offers dinner sets, plates, bowls, drinkware, glassware, cutlery, placemats and coasters, serve-ware and cookware. Wax Lyrical offers various type of candles, such as ceramic, glass, multi-wick and votives. The firm sells its products in approximately 70 countries.
Portmeirion Group Plc engages in the manufacture and trade of ceramic tableware and cookware products. The firm sells its product via United Kingdom and United States Websites and through a network of retail outlets, agents and distributors across the world. The firm consists of six homeware and fragrance brands, Portmeirion, Spode, Wax Lyrical, Royal Worcester, Pimpernel and Nambe. The Portmeirion offers a range of dinner plates, bowls, mugs, glassware and other tableware products. Spode offers dinner sets, plates, bowls, drinkware, glassware, cutlery, placemats and coasters, serve-ware and cookware. Wax Lyrical offers various type of candles, such as ceramic, glass, multi-wick and votives. The firm sells its products in approximately 70 countries.
US Tariff Disruption: Significant disruption from sharply increased US tariffs drove a drop in sales and higher losses in the company’s largest market.
Sales Growth Ex-US: Excluding the US, group sales rose nearly 11% at constant currency, showing strong performance in other markets.
Wax Lyrical: The home fragrance division delivered 15% growth in profitability and returned to profit, with new listings and operational improvements.
Inventory Build & Net Debt: Inventory increased mainly due to cost inflation and earlier US shipments, pushing net debt up to GBP 14.8 million.
Transformation Plan: Early progress reported on a new 5-point transformation plan, focused on market recovery, balance sheet strength, and brand investment.
Outlook Caution: Management remains cautious on US consumer demand and potential further tariff changes, with modest growth expected outside the US in H2.
