Portmeirion Group PLC announced that given the ongoing macro-economic uncertainty and the continued prioritization of further reduction to net debt, the firm recommended a final dividend of 2.00p (2022: 12.00p). Total dividends paid and proposed for the year would therefore be 5.50p per share (2022: 15.50p). The final dividend is expected to be paid on 31 May 2024 to shareholders on the register on 26 April 2024, with an ex-dividend date of 25 April 2024.
Other financial highlights include:
Group revenue of £102.7 million in the year to 31 December 2023 (2022: £110.8 million), in line with market expectations and a resilient performance against tough trading conditions in the US and South Korea.
Headline EBITDA of £9.2 million (2022: £13.2 million) and headline operating margin of 4.7% (2022: 7.8%) reflecting reduced revenue and operational gearing.
Headline profit before tax of £3.0 million (2022: £8.0 million) in line with market expectations.
Good Christmas trading period with robust demand across their portfolio of consumer goods brands.
Return to sales growth in Wax Lyrical division and further 16% growth in ROW sales markets, in line with their diversification strategy.
Much improved free cash free cash flow generation of £4.4 million (2022: free cash outflow of £8.7 million).
