Waterford Wedgwood tackles losses
Waterford Wedgwood has cut its losses by €69.2m to €188.9m, a move which the company says signals its progress back to profitability.
Company chief executive Peter Cameron said: "Fiscal 2006 was a year of unacceptable losses for Waterford Wedgwood. However, we believe our transition back to profitability is gaining momentum."
He added that a number of new product ranges were expected to help balance the company's books.
"Among the programmes already launched are Waterford's Ballet Collection, the Gordon Ramsay range for Royal Doulton and distribution in the US retail chain Bed Bath & Beyond," he said.
Sales were at €772.6m, a 10.4% increase on last year, primarily as a result of the acquisition of Royal Doulton.
The company opens at 5c a share on the ISEQ this morning.
