Waterford Wedgwood sees marginal improvement

In its latest trading statement, Waterford Wedgwood says it may sell subsidiary All-Clad after receiving "significant and unsolicited" interest from third parties.

The company also reported worldwide sales of €241.9m for the final three months of 2003, in line with the same period in 2002.

The group said margins improved to 7.7%, helped by cost cuts, outsourcing and technology investment.

It described Christmas sales as "satisfactory" with sales in Japan up 11% on last year, while US sales were flat.

Trading in Europe was weaker, and tourist sales in Ireland were specifically hit by the exchange rate.

Waterford said that although sales at its Rosenthal operation in Germany fell 2%, it was a creditable performance given the lack of consumer confidence in the country.

The company's net debt at the end of the year stood at €400m.