 Sales fell 4% in the year but current orders are up |
Waterford Wedgwood, the fine china and glassware maker, has predicted it will return to profit after seeing its annual pre-tax losses cut by half. A cost-cutting programme helped its pre-tax loss narrow to 70.8m euros ($95.1m; �47.7m) in the year to March 31 from 189.4m euros a year earlier.
The group makes pottery and china in Staffordshire and Asia and glass and crystal in Ireland.
"Our intent is to end the year profitably", the firm said.
Sales fell 4% to 741.5m euros, but the company said that its order book was stronger than at the same time year ago.
Since unveiling an overhaul in May 2005, Waterford Wedgwood has sacked about 2,200 employees, and closed several factories.
"The results...demonstrate the achievements of the cost-rationalization program and our product development and marketing initiatives," chief executive Peter Cameron said.
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