Waterford Wedgwood Shrugs Off Asian Woes To Boost Profit

Waterford Wedgwood recently shrugged off the woes being experienced by the luxury goods sector with a 13% rise in first half operating profits to Ir£14m. The Waterford brand's performance was particularly strong. The company said the Asian economic crisis had affected sales of Wedgwood china in Japan, but the impact had been limited to £1m. Waterford crystal, less exposed to Asian markets, saw profits rise by 36% to Ir£9.1m, helped by the introduction of new products, including a millennium collection. Waterford's US sales rose by 16% on the year.