Irish porcelain and crystal manufacturer Waterford Wedgwood said sales had leapt a record 30% in the last six months.
The group, led by chairman and media tycoon Tony O“Reilly, said sales in the hal…
Irish porcelain and crystal manufacturer Waterford Wedgwood said sales had leapt a record 30% in the last six months. The group, led by chairman and media tycoon Tony O“Reilly, said sales in the half year to June 30 had risen to Euros 447 million (UK 263 million), compared with Euros 342.6 million (UK 201.5 million) reported in the same period a year earlier. In the company“s crystals division, new products accounted for 40% of total sales of Euros 178 million (UK 105 million). The division is due to launch a new range called Gifts of Expression this autumn. Crystal sales in the UK were up by 10%, while Ireland rose 18%. On the ceramics side, overall sales were up 18% to Euros 202.7 million (UK 119 million), with the Wedgwood brand accounting for 22% of this total. In the US, where the Wedgwood brand is advertised by Sarah Ferguson, former wife of the Duke of York, sales rose by 15%. In the beginning of August, the group bought German brand Hutschenreuther for Euros 10.2 million (UK 6 million), a move that O“Reilly said would give Waterford Wedgwood more than 33% of the German ceramics market, through its subsidiary Rosenthal. Group operating profit rose to Euros 29.5 million (UK 17.4 million), against Euros 21.3 million (UK 12.5 million) in the comparable period. Underlying pre-tax profits were Euros 15.5 million (UK 9.1 million), against Euros 13.4 million (UK 7.9 million). O“Reilly said the figures consolidated “a decade of sustained profitable growth” and positioned the company to generate future growth.