Portmeirion Group PLC (PMP.L), a manufacturer of homeware products, on Wednesday said it sees fiscal 2023 pre-tax profit in line with underlying consensus market expectations, and lower sales.
Portmeirion shares were losing more than 16 percent in the morning trading in London.
Looking forward to fiscal 2024, the company is expecting a healthy operating margin improvement compared to 2023 after a positive Christmas performance. It also expect sales to return to growth in the full year.
Nevertheless, the firm feels that fiscal 2024 might be a challenging year due to ongoing macro uncertainty with customers remaining cautious in relation to H1 order flow, especially in the US and South Korean markets.
In its trading update, the company said it experienced good Christmas trading period with high demand across its consumer goods brands.
Sales are expected to be at least 102 million pounds, slightly ahead of analysts' estimates.
Portmeirion is set to publish its full year results in late March.
Currently, Portmeirion shares are trading at 233.86 pence, down 16.48% in London.
For comments and feedback contact: editorial@rttnews.com
Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.