Royal Doulton - New Strategy

[Sept/2001] Shareholders in Royal Doulton have had little to celebrate over the past year as the market for prestige ceramic gifts and homeware has dipped both in Britain and the USA. The firm's shares have fallen from 135p at the start of last year, to a low of 39p in August/2001, after a warning at the group's AGM that sales were down 5%. The Chairman, Hamish Grossart, blamed a sharply slower consumer demand for gifts, especially collectibles. But now the china manufacturer is facing a possible bid from venture capital group Alchemy. The two sides have held some preliminary negotiations. Waterford Wedgewood has a 15% stake in Royal Doulton.