Royal Doulton Plc has said it did not expect to return to profit until the second half of 1999. The company, which announced major restructuring last December with the loss of 1,200 jobs said that repositioning the business away from lower margin sales had started. However, weak consumer spending and strong competition would lead to sales this year lower than those in 1998. "Given the degree and speed of change on which we have embarked, the related internal costs, and the normal seasonal pattern of trading, the board currently expects the group to make an operating loss in the first half of 1999 before returning to profits in the second half," it said. Royal Doulton reported a 1998 pre-tax loss of £42.6m following a restructuring charge of £47.7m, after a profit of £6.2m in 1997, on turnover of £238.8m. It did not declare a final dividend.
