Portmeirion Group has reported progress against its growth strategy as it prepares to appoint an interim finance chief following the departure of its current chief financial officer (CFO) due to health reasons.
The Stoke-on-Trent homeware group today announced its results for the six months to 30 June 2026, with group sales of £36.4 million, down 1.9% from £37.1 million in the same period last year.
The group reported a headline loss before tax of £4.5 million, compared with £2.8 million in the first half of 2025. It said the loss reflected upfront investment in its Made in Stoke-on-Trent onshoring initiative, the annualisation of investments in future growth initiatives made during 2025, and higher energy costs.
The group also reported a significant reduction in net debt, which stood at £6.2 million at the end of June compared with £17.5 million at the end of 2025.
Tableware sales by 4.1%, with significant activity on ‘hero brands’ Spode, Portmeirion and Royal Worcester. Sales growth for Spode reached 22.5%.
Portmeirion entered Türkiye during the first half of the year, with two further markets planned before the end of 2026.
Portmeirion said it was delivering against key milestones set out in its revised ‘Elevated’ growth strategy, with several of the 12 operational targets set for 2026 already completed.
The update comes after Portmeirion announced yesterday that Adrian Wilding will join the business as interim CFO on Monday, 28 September, succeeding Jonathan Hill, who will leave the company and its board on Friday, 25 September.
He is stepping back from the business after suffering a serious injury while on holiday in Asia.
Adrian joins with over 20 years’ leadership experience across private equity-backed, listed and growth stage businesses. He most recently served as CFO of FireAngel Safety Technology, joining the firm ahead of its successful sale.
He has held the same position at Universe Plc and CR7 Services Group, as well as Director of Finance at Just Retirement Group.
Peter Tracey, non-executive chair of Portmeirion Group, said the board fully supported Jonathan’s decision to prioritise his health and had moved quickly to appoint an interim CFO.
The group is also progressing with plans to change its corporate name to Spode Group PLC, which is expected to take place in November.
Chief Executive Michael Scheepers said trading during the first half was in line with expectations, with improved momentum being seen in the UK during the second half.
He said the company was in active discussions with several large retailers over new commercial opportunities and continued to engage with the Government over support for the sector.
Portmeirion has called for clarity over the deployment of the £120 million in funding pledged to support the UK ceramics sector earlier this year.
Michael said: “As we look ahead, we have a clear growth strategy and operational targets in place, supported by a strengthened balance sheet and refreshed senior management team to drive delivery of our strategy. There remains much to do.”
Portmeirion will now begin the search for a permanent CFO.
