Branded ceramic products supplier Portmeirion (LON: PMP) had a poor first half of 2019, but it is confident that the second half will be much better, and it could possibly maintain full year profit. That will be helped by a second half contribution from the recently acquired Nambe business.
Management warned about first half trading in a trading statement in May. In the six months to June 2019, revenues were 5% lower at £34.9m, while pre-exceptional profit slumped from £2.1m to £525,000. This decline is due to the relatively fixed cost base.
Lower exports hit revenues, but Portmeirion be...
