Portmeirion Group, PLC (PMP.L), a retailer of homeware and fragrance products, Friday said it expects sales for fiscal 2024 to be about 90 million pounds, below market expectations, primarily impacted by supply chain disruptions as well as continued destocking in South Korea.
Consequently, profit before tax is expected at 1 million pounds for the year.
The company said its second half sales declined 7 percent on a like-for-like basis.
"Consumer confidence and spending levels remain challenging across our key markets of the US, Asia and UK. In South Korea, we have made progress in reducing high stock levels, but weak consumer and retailer confidence continue to impact trading in this region, " said Mike Raybould, Chief Executive.
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