Waterford Wedgwood said today first-half sales would be down on last year but that a recent cash injection meant trends were "strongly positive".
"The capital injection announced in early April was not finalised until early July. This affected production and sales in the six months to the end of September," chairman Sir Anthony O'Reilly told shareholders at an annual general meeting.
"Total sales, therefore, will be down by about 7 per cent at constant exchange rates and by about 9 per cent at actual exchange rates."
Waterford Wedgwood said in July it had raised €100 million in a share issue that saw the combined stakes of Sir Anthony and his brother-in-law, chief executive Peter Goulandris, rise to 83.4 per cent of the company.
The company said it also hoped to raise a further €100 million from investors as it embarks on the final stage of a push to cut manufacturing costs and boost flagging demand for its luxury tableware.
"Last month, Waterford had its best September sales since 2003 and, for the month of October, present indications are that total group sales will show healthy growth over last year," Sir Anthony said.
"Prospects for the all important Christmas period are encouraging: the group's total order book at 1st October is up 11 per cent over last year," he added.
Sales at the firm, which is trying to reverse a prolonged slump in demand, fell 4 per cent in the year to the end of March although its pre-tax loss narrowed to €70.8 million from €189.4 million a year earlier.
The sales drop would have only been 1.5 per cent, however, had it not been for currency fluctuations.
The company, which has bought a factory outside Jakarta as party of its restructuring, said in June it hoped to be back in the black by the end of its current business year thanks to lower overheads and new products with higher margins.