Tableware sales climb after slow start

Sales figures for tableware giant Villeroy & Boch Group during the first quarter of 2010 have revealed a decrease of 2.4% year-on-year.

The group’s hotel and restaurant division head of sales, Burkhard Schmidt, commented: “In the first three month of 2010, the Villeroy & Boch Group generated sales of €177.9 (US $218.4) million, compared with €182.2 ($223.7) million in the same period the previous year — reflecting a slight decrease.

“However while sales remained down on the previous year in January and February, they returned to positive territory for the first time in March,” he continued.

Schmidt claimed that tableware sector sales had shown recovery worldwide after the start-of-year slump, with Asia recording an increase of 31.4%, and good developments in China, the UAE, Kuwait, Qatar and Bahrain — with group sales up 11.6%.

Schmidt added that, despite initial sales figures, 2010 had yielded some positive developments for the firm.

“The operating result (EBIT) improved significantly in the first quarter of 2010 to €3.7 ($4.5) million, up €11.3 ($13.9) million on the previous year figures of €7.6 ($9.3) million.

“This development reflects the restructuring and cost reduction measure initiated in the previous year,” he said.