Portmeirion ups stake in Furlong Mills

Homewares manufacturer Portmeirion has upped its holding in Furlong Mills.

The AIM-listed company said on Monday that it has bought a further 7.5% stake in the business from Dudson Limited for £363,000, taking its interest up to 44.4%.

Portmeirion said Furlong will continue to be accounted for as an associated undertaking in the group's accounts.

It said Furlong is an important part of its supply chain, providing ceramic materials for the manufacture of earthenware pottery in its Stoke-on-Trent factory.

"The group will continue to play an active role in the management of Furlong Mills," it said.

At 1330 GMT, the shares were up 0.3% to 1,138p.