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[March 2001]
Record breaking preliminary results announced by Waterford Wedgwood PLC
For the year ended 31 December 2000, Waterford Wedgwood's operating profit increased by 28% to a record breaking EUR 110.3 million. Total Group sales rose by 23% to EUR 1084.4 million, effectively doubling the group's sales over the last three years. Group ROS improved from 9.8% to 10.2% and pre-tax profits increased by 24% to stand at EUR 85.5 million.
The Ceramics division sales grew by 21% in 2000 to EUR 481.4 million and operating profits were up 25% to EUR 18.7 million. Sales were boosted by successful new product ranges from designers Nick Munro and Paul Costelloe and Rosenthal's improving trend was augmented by the acquisition of the premium porcelain brand Hutschenreuther (Germany) in August 2000.
Significant ceramics sales advances were achieved in two important markets - the USA (up 16%) and Japan (up 12%) - as well as in Australia where the company's Olympic Games affiliation contributed to a gain of 12% in sales.
Commenting on overall group performance, Chairman Sir Anthony O'Reilly said: "2000 was the Group's eighth successive year of record results. Last year's achievements marked the start of a new era for the Group. We are now widely recognised as one of the world's major luxury lifestyle brand companies with strong market share and number one brand status in each of the world's key trading blocs.
Despite the indications of economic weakening in the US, Waterford Wedgwood is trading above 2000 levels. We will continue further to develop and contemporise our brands while growing the Group through selective acquisition".
ENDS