Drop in dollar brings mixed fortunes

WEAKNESS in the US dollar, at four year lows against the Swiss franc, is bringing mixed fortunes for two prominent Irish groups, according to recent research.

It is bad news for Waterford Wedgwood where a 10% decline can knock up to 1.8c off its earnings over a year.

However the group has been cutting its cost base and has shed 1400 jobs since it began a rationalisation programme back in November 2001.