Shareholders in Qualceram have been told to expect a year of consolidation after last year's acquisition of British group Shires. Group chief executive Mr John O'Loughlin told yesterday's annual general meeting the bathroom products company was not being ambitious but was working towards efficiencies in the organisation.

"Current trading is good. We're quite pleased with the way we are going," said Mr O'Loughlin. "We certainly expect to meet analysts' expectations," he added.

The purchase of Shires last August expanded the group's turnover by a factor of six. Qualceram Shires is now the third-largest bathroom products manufacturer in Britain, with just under 10 per cent of the market, and is also the most expensive.

"Our sales are on service, quality and design, not on price," he said.

"We are growing the market in the UK and we expect to produce a pretty significant level of growth. This year is a consolidating year and we're focusing on making it efficient," Mr O'Loughlin said.

In the Republic, Qualceram Shires has 55 per cent of the market, with Shires supplying the new housing sector and Qualceram the renovating side.