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Crealogix profit plunges

Crealogix Zurich office.

(Crealogix)

Net profit at Internet consulting group, Crealogix, has plunged to SFr1.6 million ($950,000) over the 2000/2001 business year from SFr4.5 million in 1999/2000.

Completing its first year as a listed company, Crealogix said it would not pay a dividend, in keeping with its policy of reinvesting earnings in expansion.

Sales rose 39 per cent to SFr27.3 million in a market that showed an expected slowing in demand for e-business projects over the year.

Crealogix said that, not least thanks to its SFr50 million cash position, it expected to be able to strengthen its market position over the coming year, maintain sales of at last year's level and raise the earnings before interest and taxes margin to around 15 per cent on the back of further cost-cutting.

swissinfo with agencies


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