Portmeirion expects return to profit in second half, dividends next year

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Portmeirion Group PLC (LON:PMP) said it anticipates to return to profits in the second half of 2020 and to reinstate dividends next year based on how Christmas trading pans out.

The homewares manufacturer continued to see an improvement in trading conditions in the second half of the year in the run-up to the key Christmas trading period.

READ: Portmeirion plans fundraising to boost capacity for online sales and hand sanitiser

The firm was encouraged by the improving sales trend seen over the summer but remains mindful of the economic uncertainty ahead.

In the six months to June 30, revenue slid 8% to GBP32mln but the GBP525,000 profit seen in 2019 turned to a GBP2.6mln loss due to higher costs amid the pandemic.

Shares rose 1% to 372.5p early on Thursday.

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