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Portmeirion Group

  • BY: Andrew Hore |
  • POSTED: 08/08/2008 |

Portmeirion Group reported lower interim profits.

The Stoke-on-Trent-based tableware and giftware producer reported a fall in profits from £2.49m to £406,000 as revenues increased from £14.5m to £15.3m in the six months to June 2008. Stripping out exceptional items, the underlying fall in profits was from £847,000 to £490,000. The interim dividend was unchanged at 3.55p a share.

Sales in the US were lower and South Korean sales were flat. They improved in the UK and the rest of the world - particularly Canada.

There was £794,000 cash in the balance sheet.

Energy costs are running at £23,000 a week. Management has already warned that the full year figures will be below expectations.

At 185p a share, Portmeirion is valued at £18.3m. 

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