Portmeirion's sales top £50 million for first time

British pottery manufacturer Portmeirion today said annual sales will top £50 million for the first time after a particularly strong Christmas.

More than £13 million of the sales come from Spode and Royal Worcester which were bought from the liquidator two years ago.

Chairman Dick Steele said much of the growth came from new designs on old patterns.

Top seller was the Christmas Tree Candy Stripe mug of which Portmierion sold 25,000 at $10 (£6.25) a time in the US.

Steele said profits would be in line with recently upgraded City forecasts.

Freddie George at Seymour Pierce today upped his share price target to 600p as the shares rose 30p to 522½p.