Waterford Wedgwood announced at the end of January that worldwide sales for the period October to December 2003 were EUR 241.9M, equal to the same period of the previous year on a like-for-like basis. In a press release, the firm said operating margins improved to 7.7% in the quarter, generated by the successful flow-through of improvements to the company's fixed cost base as a result of the group's substantial investment in cost reductions, outsourcing programmes and technology. According to the release, Waterford Wedgwood performed satisfactorily in the Christmas shopping season, despite industry sales, which were concentrated in the last 10 days of December. In the Japanese market, sales were up 11% in the quarter and the firm remained the market leader in its category, where further growth is expected in 2004. US sales were level with the previous year.
