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Portmeirion – “encouraged that the group continues to grow”, but will that continue?...

Homewares group Portmeirion (PMP) has issued an AGM trading statement including that it “is encouraged that the group continues to grow and… confident that our ongoing strategic investments in factory automation and online platforms will enable future growth in top line sales and that ongoing improvements in productivity will further enhance margins over the long term”. So what of a share price currently of 435p, down over 8%?...

EPIC PMP
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Portmeirion – ANOTHER profit warning… & “strong balance sheet”, it says?!

Previously writing on homewares group Portmeirion (PMP), in May I noted after less than 2 months ago “we look forward into 2019 with confidence” … a significantly below market expectations profit warning, concluding, with the shares lower towards 900p, and with I also having previously noted from “expect profit before tax to be in line with market expectations for the full year” to “pre-tax profits are expected to be materially below” in less than two months, to avoid. The first ‘Headline’ of its 1st August-announced interims was “First half results are in line with our expectations set out in the 14 May 2019 trading update and we anticipate achieving full year expectations” – and now a “Trading Update”

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