New product ranges & a 90M/euro restructuring programme should see Waterford Wedgwood return to profit by 2007, new group CE Peter Cameron told shareholders 20/10/05. The luxury crystal & porcelain goods group has continued to experience a difficult trading environment & sales remain down by 7% in the 1H of its financial year. Mr Cameron said the company has targeted cost savings, & when fully implemented would make the group profitable at current or even lower trading levels. As well as cost reduction, the company aims to go forward with the launch of a range of new products throughout Wedgwood, Waterford Crystal & Rosenthal. Mr Cameron added that the company's restructuring & profitability plan did not foresee greater levels of manufacturing outside of the current locations in Ireland & the UK. The key drivers for company growth would be the US & Germany.
