Portmeirion Group PLC (LSE:PMP)

Full Year 2024 Portmeirion Group PLC Earnings Call Transcript

Apr 2, 2025 / 11:00 AM GMT

Release Date Price: £1.89 (+6.18%)

Transcript

Key Points

Positve

Portmeirion Group PLC (LSE:PMP) reported significant profitability improvements in its US division, with profits increasing by 18% despite slightly lower sales.
The company's brand, Spode, has shown substantial growth, increasing nearly 50% over the last 3 to 4 years.
Wax Lyrical, the home fragrance business, returned to profitability with a 25% increase in sales and continued momentum into early 2025.
The company implemented cost-cutting measures, reducing its cost base by approximately 5 million pounds, or 13%.
Portmeirion Group PLC (LSE:PMP) has developed a new transformation plan aimed at accelerating long-term profitable growth and maintaining a healthy net cash position.

Negative

Overall financial performance was disappointing, with a reduction in sales and profit, primarily due to a significant decline in the South Korean market.
Revenue fell by 11% to 91.2 million pounds, largely due to a 45% year-on-year decline in Korean sales.
The company experienced supply chain disruptions, particularly affecting the US market during the critical Christmas season, leading to missed sales opportunities.
Net debt increased by 4.2 million pounds to 12.1 million pounds, partly due to higher inventory levels and lower receipts.
Portmeirion Group PLC (LSE:PMP) decided not to pay a final dividend for the year due to lower profits and a focus on strengthening the balance sheet.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

PMGR.L - Portmeirion Group PLC
Full Year 2024 Portmeirion Group PLC Earnings Call
Apr 02, 2025 / 11:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon ladies and gentlemen, and welcome to the Portmeirion Group PLC Investors presentation. Throughout this recorded presentation, investors will be in listen-only mode. Questions are encouraged. They can be submitted at any time via the Q&A tab that's just situated on the right hand corner of your screen. Please just simply type in your questions and press send.

The company may not be in a position to answer every question it receives during the meeting itself. However, the company can review all questions submitted today, and we'll publish those responses where it's appropriate to do so on the Investor Meet company platform. And before we begin, we would just like to submit the following poll, and if

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