Portmeirion (GB:PMP) has released an update.
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Portmeirion Group PLC, a British ceramics manufacturer, reports a 17% decrease in H1 2024 sales compared to last year, primarily due to a downturn in the South Korean market. Despite market challenges, the company saw an increase in sales and gross margins in the US, its largest market, and significant growth in the UK, particularly in their Wax Lyrical home fragrance division. Portmeirion remains optimistic, expecting full-year profits to rise with strong US and UK Christmas order books, and has undertaken a cost restructuring to improve operating margins amidst unpredictable global trading conditions.
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