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Swisscom shows profitable growth in 2007

Switzerland's leading telecommunications company, Swisscom, has reported a 2007 net profit of SFr 2.07 billion ($1.99 billion), up more than 29 per cent compared with 2006.

The firm said on Wednesday that net income had been boosted by the repurchase of the 25 per cent Vodafone stake in its mobile phone unit and the sale of its Hungarian unit, Antenna Hungaria.

Sales were up by almost 15 per cent to SFr11.1 billion, the company said in a statement. These were driven by Swisscom’s €3 billion acquisition of Italian broadband operator Fastweb.

Analysts had on average forecast a net profit of SFr2.02 billion and sales of SFr11.2 billion.

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SWI - a branch of Swiss Broadcasting Corporation SRG SSR

SWI - a branch of Swiss Broadcasting Corporation SRG SSR