- Portmeirion, a manufacturer and distributor of homewares, expects profit before tax for 2017 to be slightly ahead of market expectations.

It expects to report record revenue of over £84.5 million. This represents an increase of at least 10% over the previous year and is the ninth consecutive year of record sales.

Excluding the full year impact of the Wax Lyrical business, which was acquired by the group on 4 May 2016, like-for-like sales growth exceeded 5%.

At a constant US dollar exchange rate, the total group revenue increase would have been nearer 8%.

Dick Steele, non-executive chairman, said: "We are delighted with another record sales result. In particular, our year-on-year sales growth strengthened as we moved through the year and the second half results exceeded management expectations. Highlights included the US, export markets and online sales that achieved double digit revenue growth in the second half aided by well received new product launches. With this momentum we therefore look forward with confidence to 2018."

At 8:04am: [LON:PMP] Portmeirion Group PLC share price was +25p at 948p

Story provided by