**Summary**
Portmeirion Group PLC, a global homeware brands group, released its FY 2025 trading update on February 3, 2026, highlighting improving trends in the second half of the year, driven by strong seasonal sales performance. Despite challenges such as significant tariffs in the US, the Group reported a 1% year-on-year sales growth at constant currency, reaching approximately ยฃ91 million. Excluding the US market, sales grew by 8%.
Key highlights include
1. **Sales Performance**
North America sales declined by 7% due to tariffs, but strong sell-through of seasonal ranges was observed.
UK sales grew by 1%, with a 6% improvement in tableware sales in H2.
South Korea saw a 26% sales growthrebounding from 2024 lows.
International markets grew by 14%aided by new product innovations.
2. **Strategic Initiatives**
Bold decisions were made in April 2025 to position the business for long-term growth, including resetting customer relationships and reinvigorating the approach.
Key senior appointments were made in Q4 to strengthen leadership, particularly in product, sales, and US roles.
Focus on Made in Stoke-on-Trent products, which resonated well with customers, especially in the US, South Korea, and international markets.
3. **Financial Impact**
Headline loss before tax of approximately ยฃ3.5 million due to tariffs, higher energy costs, and upfront investments in growth opportunities.
Net debt increased to ยฃ17.5 million at year-end, reflecting the loss and additional cash costs related to US tariffs.
4. **Outlook**
Confidence in returning to growth in 2026, supported by strong seasonal sell-through and a successful trade show in Atlanta.
Focus on reducing excess inventory responsibly and fast-tracking new global product launches under Spode and Portmeirion brands.
The Group remains committed to its transformation plan, aiming to maximize the long-term potential of its brands and enhance brand equity.
Below is the HTML table code comparing the financials and debt year-on-year based on the provided text: < lang="en">
> ### Notes:
1. **Group Sales**: FY 2024 value is implied as ยฃ90m based on the 1% increase to ยฃ91m in FY 2025.
2. **Regional Sales**: Specific FY 2024 values are not provided, so the table reflects the percentage changes mentioned in the text.
3. **Net Debt Position**: The increase from ยฃ12.1m to ยฃ17.5m is calculated as a 44.6% rise.
4. **Headline Loss Before Tax**: FY 2024 value is not provided, so the change is marked as N/A. This HTML code generates a styled table comparing the key financials and debt metrics between FY 2024 and FY 2025.