Waterford ‘likely to continue decline in 2005’

CREDIT ratings agency Fitch expects no improvement in the financial position over the next year.

In a research note yesterday Fitch Ratings said since 2001 Waterford Wedgwood’s profitability has declined due to weak demand, the negative impact of foreign exchange and industry overcapacity.

It said these problems are likely to persist for next year, which could impact further on its profit margins.