Qualceram posts €3.5m profit for 2003

BATHROOM ceramics manufacturer Qualceram Shires showed signs it had put an end to a difficult period last year as it returned to profitability and resumed dividend payments.

But revenues from the key British market tumbled by 13% as the company suffered from weaker sterling and increased competition from low-cost imports.

Overall turnover fell 5% to €95 million during the year as improved sales in Ireland and other markets helped offset the decline in Britain, which accounted for 52% of total revenues. Qualceram recorded pre-tax profits of €3.5m, an impressive turnaround after an €11.6m loss in 2002.