Falorni Tech Glass Melting Technology
Filtraglass

Royal Doulton: raising UK 31.2 million net

29 July 1999: British china and crystal glass maker Royal Doulton Plc said it was raising some UK 31.2 million net through a placing of 27.7 million new shares at a price of 115p per share.
Royal Dou…

29 July 1999: British china and crystal glass maker Royal Doulton Plc said it was raising some UK 31.2 million net through a placing of 27.7 million new shares at a price of 115p per share. Royal Doulton, which announced a major restructuring in December with the loss of 1,200 jobs, said group turnover in the six months to 30 June was 16% lower than a year ago. It said it expected this trend in lower sales to continue for the remainder of the year. The group confirmed it expected to make an operating loss in the first half of 1999 before returning to profit in the second half. It added that profitability in the second half and the full year result would clearly depend on trading over the Christmas period and other factors, including the effects of the restructuring programme. Qualifying shareholders can apply for the new shares on the basis of one new ordinary share for every two held. Existing shareholders have applied for all or part of their entitlements representing 39.2% of the issue.

Sign up for free to the glassOnline.com daily newsletter

Subscribe now to our daily newsletter for full coverage of everything you need to know about the world glass industry!

We don't send spam! Read our Privacy Policy for more information.

Share this article
Related news