Portmeirion Group PLC (AIM:PMP) usual set of excellent results despite inventory issues
Preliminary results for the year ending 31 December 2014 offered the usual excellence with a sixth consecutive year of record Group revenue with growth of 5.3% to £61.4m. However, inventory management issues spoiled the party a bit. With a big projected ramp up in UK manufacturing capacity management clearly believes there a lot more growth to go for.
The Group’s largest market remains the United States, which represents nearly a third of sales. They finished the year 1.0% above last year in translated figures in the United States, but by 6.4% in local currency. Better rates of employment and lower fuel costs continue to improve prospects in the United States. The United Kingdom remains the second largest market accounting for just over a quarter of revenues; here we increased sales by 3.3% over 2013. At just under a quarter of our sales South Korea had another good year with a sales increase of 2.0%. Sales growth in the…