€45m losses at Waterford Wedgwood
The results disappointed the market after profits of €7.2 million the previous year and brought a 5% fall in the share price.
The company said currency effects wiped €30 million off the bottom line in the year to March. Sales fell 13% to €832 million, but were down 3.3% excluding the effects of the dollar. North America accounts for half of the group's total sales. Sales also suffered from weaker demand in the wake of a fall-off in tourism caused by the SARS virus and conflict in Iraq. Operating profits plunged from €64 million to €28 million.
