Ascom makes 40 per cent profit

The Swiss technology group, Ascom, increased its profits by nearly 40 per cent last year. Net profits rose to SFr90 million. Due to the good performance, the company announced it would increase dividends to shareholders to eight per cent.

The Swiss technology group, Ascom, increased its profits by nearly 40 per cent last year. Net profits rose to SFr90 million. Due to the good performance, the company announced it would increase dividends to shareholders to eight per cent.

Ascom said its e-commerce business through the Internet made up for nearly a quarter of its sales last year, which totalled SFr3 billion francs. That was a 12 per cent increase on 1998.

The company said it was seeking to make a number of acquisitions and strike partnerships this year, but gave no further details.

Ascom, which has its headquarters in Berne, named two new members to the top management. Isto Hantila has been appointed Chief Operating Officer, while Stefan Riva has taken over as Chief Officer of e-business.

In 1998, Ascom suffered a 50 per cent drop in profits due to restructuring costs and the sale of its Timeplex group. It also cut about 100 jobs at one of its factory in Solothurn.

swissinfo and agencies