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Kudelski announces SFr72.1 million profits

Company CEO André Kudelski expects the good news to continue for shareholders in 2002


Pay TV and software firm Kudelski has announced an 8.2 per cent rise in net profit to SFr72.1 million ($43.25 million) in 2001.

While the result falls slightly short of the firm's own predictions, some analysts expected Kudelski to reach SFr85 million in profits.

The company said the increase came despite extraordinary costs, including provision for legal risk of SFr16.3 million.

Kudelski expects trading in the first half of this year to remain tough, with a promising second half.

Chairman André Kudelski said the company maintains its view that it can achieve a rise in sales for 2002 of SFr600-700 million and a net profit of SFr120-130 million.

swissinfo with agencies

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