Irish glass and chinaware group Waterford Wedgwood Plc announced flat annual pre-tax profits before exceptional items, but said its restructuring and investment in luxury brands would position it well. "Assuming the world of the next century builds on the aspirations of the last, we look forward to increased prosperity in the years ahead," chairman Anthony O'Reilly said in a statement. In 1998, pre-tax profit before exceptional items totalled 40.2m punts (US$57.64m), fractionally up from 40m a year earlier, on group sales of 575.3m, up 37.9% including newly-acquired German unit Rosenthal. The company incurred an exceptional provision of 24.6m punts, down from 27.8m a year earlier, to cover restructuring and other costs. Company officials said Waterford Wedgwood was not expected to make an exceptional provision in the 1999 accounts.
