Our strategy is focused around five key areas: profitable sales growth, new product introduction, developing our brands, enhancing our operational efficiency and capability and supporting this with complementary strategic acquisitions.

Achievements

  • Tenth consecutive year of record sales.
  • Strong revenue growth in key markets of UK, US and South Korea.
  • Successful new product launches.
  • Home fragrance and online sales growth.

Future outlook

  • Focus on establishing growth in new export markets.
  • Continued growth in home fragrance division.
  • Further investment in online sales including launch of new websites and enhanced operational fulfilment capability for our direct customers.
  • Continue to grow core UK and US markets through targeted product development.

Link to KPIs

  • Revenue
  • Operating profit margin
  • New products launched
  • Basic EPS
  • Dividends paid and proposed
  • Dividend cover

The Board’s governance role

  • The Board approves the Group’s long-term objectives and strategy and monitors performance against these objectives. Where applicable, the Board ensures any necessary corrective action is taken.

Achievements

  • Success of new Sara Miller London Portmeirion range.
  • Further growth of Royal Worcester Wrendale Designs and Portmeirion Botanic Garden ranges.
  • Development of 1,017 new products across our five brands.

Future outlook

  • 2019 launch of three new exciting UK‑manufactured ranges Portmeirion Botanic Garden Harmony, Portmeirion Atrium and Spode Kingsley.
  • Continually advance and refresh key heritage patterns including Portmeirion Botanic Garden and Spode Blue Italian.
  • Further development of home fragrance ranges for UK, US and export markets.

Link to KPIs

  • Revenue
  • Operating profit margin
  • New products launched
  • Basic EPS

The Board’s governance role

  • The Board oversees the Group’s operations to ensure competent and prudent management by the Executive Directors and the senior management team.

Achievements

  • Increased investment behind historical patterns both in core and export markets, including international trade shows.
  • Brand investment to ensure longevity of our ranges.

Future outlook

  • Further use of websites and social media to drive brand awareness.
  • Targeted investment behind key new product launches.

Link to KPIs

  • Revenue
  • Operating profit margin
  • New products launched
  • Basic EPS

The Board’s governance role

  • Any extension of the Group’s activities into new business areas would be subject to approval by the Board.

Achievements

  • Supported continued revenue growth in 2018 across key markets of UK, US and South Korea. 
  • Significant growth in online sales in 2018 including key seasonal period.
  • UK-manufactured sites achieved increased capacity output in 2018.

Future outlook

  • Build warehousing capabilities to cope with future growth in online single parcel fulfilment.
  • Invest behind our key factories to ensure future cost competitiveness.
  • Ensure we maximise operational efficiency and working capital performance.

Link to KPIs

  • Revenue
  • Operating profit margin
  • Basic EPS

The Board’s governance role

  • The Board approves the annual operating and capital expenditure budgets and any material changes to them. Capital and operational expenditure over £250,000 must also be approved by the Board.

Achievements

  • Further integration and growth of home fragrance division.
  • Further investment in acquired brands. 

Future outlook

  • Look to identify value adding acquisitions in global homewares market that complement our strategy for profitable sales growth.

Link to KPIs

  • Revenue
  • Operating profit margin
  • Basic EPS

The Board’s governance role

  • The Board approves all changes to the Group’s corporate structure.