Homewares group Portmeirion (PMP) has announced its results for the first half of the 2026 calendar year headlined “‘Elevated’ strategy progressing at pace, fixing the foundations for growth”. So not currently growth then?
Describing itself as a “global homeware brands group”, Portmeirion (PMP) has issued a “H1 2026 Trading Update” with Chief Executive Michael Scheepers emphasising “we are delivering against the key milestones set out at the equity raise and moving at pace. Our tableware brands Spode, Portmeirion and Royal Worcester delivered growth in H1 with strong momentum in the US and our international markets”. So what about a share price response currently further lower below 50p?
Homewares group Portmeirion (PMP) “is pleased to announce that it has received cleared cash funds of $2.7m (c.£2.0m) from the US Government Treasury in partial payment of the $3.0m tariff refund claim submitted… continues to believe 100% of the claim will be settled… The cash received will be used to reduce the group’s net debt in line with the group’s stated priority to achieve a 'Fortress Balance Sheet'”. Good news, but £2 million doesn’t sound much towards achieving a “fortress balance sheet”?…
Homeware group Portmeirion (PMP) has announced “Result of Retail Offer” including that it “is pleased… 3,152,546 retail offer shares will be issued at 50 pence per retail offer share to raise c.£1.6 million of gross proceeds for the company. All participants of the retail offer were allocated 100% of their order”. How ‘pleasing’ is this?
Most recently on homewares group Portmeirion (PMP), last month I questioned how “positive progress on transformation plan”? including with debt up. Now it is “pleased to announce… significant oversubscription… £17.0 million (before fees and expenses) by way of a placing… at a price of 50 pence per placing share”. With the shares currently at 55.5p, how ‘pleasing’ is it?
Homewares group Portmeirion (PMP) has announced its results for the 2025 calendar year headlined “Positive progress on transformation plan”. With the shares still well below 100p compared to 180p at the start of 2025, how “positive” really is its “progress”?
Most recently on homewares group Portmeirion (PMP), in September with the shares falling to 117.5p I wrote ‘interims re-emphasise “sales return to growth”… but the bottom-line loss also grows’ including stating talk of a transformation plan tends to be much easier than actually successfully delivering such a plan and to still avoid/sell. The shares most recently closed at 97.5p and what of now a “FY 2025 Trading Update” headlined “Improving trends in H2, underpinned by encouraging seasonal sales performance”?
Most recently on homewares group Portmeirion (PMP), in July with the shares at 138.5p I wrote ‘emphasises H1 “sales returns to growth”, but what about the bottom-line?!’, concluding to still avoid/sell. The shares most recently closed at 135p and what of now its results for the first half of the 2025 calendar year and the shares currently at 117.5p in response?
Homewares group Portmeirion (PMP) has issued an “H1 2025 Trading Update” highlighting “Sales up 2.8% at constant currency and up 10.8% excluding USA. Good rebound in South Korea and double-digit growth in International and Wax Lyrical. Proactive action taken in response to impact of USA tariffs”. What though about bottom-line financials?
Most recently writing on homewares group Portmeirion (PMP), in September with the shares at 222.5p I concluded caution on “expect FY24 profit to be up on prior year with improving operating margins, in line with FY market expectations”, with that prior year an adjusted pre-tax £3 million and the current year expectations for £4.5 million. The shares most recently closed at 205p and what of now a “Trading Update” and a currently down to 175p share price?
Homewares group Portmeirion (PMP) states that it “is pleased to announce its results for the six months ended 30 June 2024” and to “expect FY24 profit to be up on prior year with improving operating margins, in line with FY market expectations”. So what of a current 222.5p share price, down from 260p as recently as May?
