Swisscom phones in lower profits

Switzerland's largest communications provider finished 2008 with higher revenues but lower profits, it said on Wednesday.

This content was published on March 4, 2009 - 09:17

The Bern-based company, a former monopolist, said its yearly revenues rose ten per cent to SFr12.19 billion ($10.38 billion).

Net income fell 15.5 per cent to SFr1.75 billion, which the company attributed in part to the 2007 disposal of a Hungarian telecommunications provider.

Swisscom also reported growth at Fastweb, an Italian broadband company. The 2007 purchase of Fastweb returned the Swisscom to a more aggressive strategy to counter lacklustre growth in Switzerland.

The telecommunications company also said the weakening economic climate would only have a limited impact on customer demand for telecom services.

Swisscom, which is still majority-owned by the government, has outperformed its European counterparts over the past 12 months and still dominates the domestic market.

This article was automatically imported from our old content management system. If you see any display errors, please let us know: community-feedback@swissinfo.ch

Share this story