Waterford Wedgwood plc
 ('Waterford Wedgwood' or 'the Group')
 
 Consolidated Profit and Loss Account
 
 6 months ended
 (unaudited)
 30 September 30 September
  2003 2002
 
 Note €m €m
Sales by category
Crystal  135.4 158.9
Ceramics 170.3 211.1
Premium cookware 50.0 59.7
Other products 50.1 41.5
 
Total Group sales 405.8 471.2
 
Group operating profit  4.2 40.6
Exceptional restructuring charge (32.7) -
Gain arising on conversion of $ loan  - 9.7
Profit on sale of fixed asset - 5.0
Goodwill amortisation (3.4) (3.3)
 
Group (loss)/profit before interest (31.9) 52.0
Net interest payable (12.9) (12.8)
 
(Loss)/profit on ordinary activities before taxation (44.8) 39.2
Taxation on (loss)/profit on ordinary activities 1.7 (4.9)
 
(Loss)/profit on ordinary activities after taxation  (43.1) 34.3
Minority interests 0.4 (0.2)
 
(Loss)/profit attributable to members of the parent company (42.7) 34.1
Dividends - (5.5)
 
Retained (loss)/profit for the period (42.7) 28.6
(Loss)/earnings per ordinary share before goodwill amortisation
and exceptional items (cents) 3 (0.85c) 3.12c
 
(Loss)/earnings per ordinary share (cents) 3 (5.51c) 4.50c
 
 
 
 
 
 
 Waterford Wedgwood plc
 ('Waterford Wedgwood' or 'the Group')
 
 Consolidated Balance Sheet
 As at
 (unaudited)
 30 September 30 September
  2003 2002
 Note €m €m
Fixed assets
Intangible assets 4 106.5  111.3
Tangible assets 207.9 243.4
Financial assets 14.8 15.4
  329.2 370.1
 
Current assets
Stocks 307.2 314.8
Debtors  193.2 213.2
Cash and deposits 32.3 58.2
 532.7 586.2
Creditors (amounts falling due within one year) (201.6) (197.4)
Bank loans and overdrafts (49.4) (26.5)
 
Net current assets  281.7 362.3
 
Total assets less current liabilities 610.9 732.4
Creditors (long and medium debt) (412.8) (433.8)
Other long term creditors (36.2) (35.2)
Provisions for liabilities and charges (1.1) (1.5)
 
  160.8 261.9
 
Capital and reserves
Called up share capital 57.2 55.4
Share premium account  194.3 190.2
Revaluation reserve 9.3 9.8
Revenue reserves (106.3) (0.1)
Capital conversion reserve fund 2.6 2.6
 
Shareholders' funds - equity interests 157.1 257.9
Minority interests - equity interests  3.7 4.0
 
 160.8 261.9
 
 
 
 
 
 Waterford Wedgwood plc
 ('Waterford Wedgwood' or 'the Group')
 
 Consolidated Cash Flow
 6 months ended
 (unaudited)
 30 September 30 September
 2003 2002
  €m €m
 
Group operating profit 4.2 40.6
Restructuring spend (11.3) (10.6)
Depreciation 18.5 20.1
Working capital (52.7) (49.9)
 
Cashflow from operations (41.3) 0.2
Interest (14.1) (11.3)
Capital expenditure (net)  (19.8) (1.9)
Taxation paid (5.9) (2.9)
Dividends paid (7.6) (15.9)
Other - 0.1
 
Net Group cashflow (88.7) (31.7)
Exchange  15.5 30.0
Royal Doulton investment - (6.7)
Spring acquisition  - (3.5)
Opening debt (356.7) (390.2)
 
Closing debt (429.9) (402.1)
 
 
 
 
 
  Waterford Wedgwood plc
 ('Waterford Wedgwood' or 'the Group')
 
 Reconciliation of movement in shareholders' funds
 
 6 months ended
 (unaudited)
 30 September 30 September
  2003 2002
 €m €m
 
(Loss)/profit for the period  (42.7) 34.1
Exchange translation effect on net overseas investments (1.7) (12.3)
 
Total recognised (losses)/gains for the period (44.4) 21.8
Scrip dividend 1.7 1.5
Dividend - (5.5)
New share capital subscribed  - 0.1
Shareholders' funds at beginning of period 199.8 240.0
 
Shareholders' funds at end of period  157.1 257.9