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Publisuisse profits don’t tell whole story

The international advertising company, Publisuisse, has reported soaring half-year profits compared to the comparable period last year. Net income rose by 135 percent to SFr117 million ($66 million).

However, in a statement, the company said operating profit had declined to SFr37 million as a result of its Internet expansion strategy.

The Lausanne-based group sold half its real estate holdings in January, which added a one-off SFr76 million to the financial result.

It added that the second half of the year had begun well for all business segments and forecast a net profit of SFr140 million for the year as a whole.

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SWI - a branch of Swiss Broadcasting Corporation SRG SSR

SWI - a branch of Swiss Broadcasting Corporation SRG SSR