 |
 |
||||||
[February 2001]
Royal Doulton PLC Annual Results
A summary of the annual results for Royal Doulton PLC for the year ended 31 December 2000 is as follows:
Loss before taxation of £9.5 million, down from £29.6 million Gross margin up from 43.6% to 44.9% Sales down 4% to £183 million Second half operating loss reduced to £3.5 million from £9.8 million in 1999 Second half margin 46.4%, up from 44.3% Second half net operating expenses reduced by 12% Operating loss for the year £14.7 million, down from £18.5 million Net exceptional credits of £7.2 million Gearing at year-end 32%
Chairman Hamish Grossart commented: "As anticipated at the half year, gross margin has improved and costs have been reduced sharply. Further gains in both areas have been evident in trading since the year-end. Like for like sales are flat and retail trading conditions competitive, but encouraging early returns from new products provide some support to the longer term sales outlook. We expect to make further progress in the current year towards recovery by 2002".
ENDS