Revenue at pottery-giant Portmeirion increased by more than three per cent over the last 12 months – despite 2019 being ‘a challenging year.’
In a recent trading update, the Stoke company reported that it expects revenue for 2019 to be ‘at least’ £92 million – compared to £89.6 million in 2018.
In November, Portmeirion – whose brands include Spode, Royal Worcester, Wax Lyrical and Nambe – issued a profit warning for the year end 2019 after seeing a fall in export sales.
The announcement came just three months after it was revealed the company’s 10-year record-breaking streak had come to an end.
Portmeirion CEO Mike Raybould said: "Whilst 2019 was a challenging year, we have taken a long term view to protect our brand in our South Korean market. This has caused us short term pain through reduced export sales of Portmeirion Botanic Garden and increased cost and disruption to our factories from developing a large number of new ranges.
"However, we believe we have now made good progress in stabilising this key market and we are confident in our strategic plan and the long term opportunities to grow our business.
"In 2020, we intend to further increase investment behind key strategic areas such as driving online growth and brand marketing including campaigns and product launches to celebrate the 250th anniversary of Spode. The integration of the Nambé business continues to go well and we look forward to seeing the anticipated benefit in future sales growth. "
