Losses For Wedgwood

Waterford Wedgwood has suffered a full year loss of Euros 189.4M, a result which it describes as "unacceptable." The pre-tax loss was for the year to March 2006. However, turnover rose to Euros 772.6M on the back of its Royal Doulton acquisition. "Fiscal 2006 was a year of unacceptable losses for Waterford Wedgwood," said Peter Cameron, CE. "However, we believe our transition back to profitability is gaining momentum, given our new and exciting ranges." Operating profit in April & May was on target & ahead of the same period last year as restructuring benefits took place. (whole item)