Online growth helps Portmeirion revenues

Previous investment in online sales helped ceramic housewares and giftware supplier Portmeirion Group (LON: PMP) to cope with the problems of Covid-19 and associated lockdowns. Online accounted for 47% of UK and US sales, up from 30% the year before.

Portmeirion’s own ecommerce platforms increased sales by 69%. The plan is to generate one-fifth of sales from this platform. Portmeirion acquired the shares it did not own in the Canadian associate company, which has little in the way of online sales. Bringing it into the group will help to increase online business in Canada.  

Trading

Group revenues were hit by Covid-19, and the decline in profit was even more marked. In 2020, revenues dipped from £92.8m to £87.9m, although second half sales only fell by 6% compared with 20% in...

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Andrew Hore is the publisher of AIM Journal, which is an online monthly publication covering the Alternative Investment Market.