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Profits slump at Ringier and Jelmoli

Ringier says newspaper and magazine sales remained virtually stable in 2001

(Keystone Archive)

Switzerland's largest publishing house, Ringier, has reported a 31 per cent drop in profits to SFr34.8 million last year - down from SFr50.4 million in 2000.

However, turnover increased by 4.3 per cent to SFr1.062 billion in spite of what the company described as "difficult economic conditions".

Jelmoli

Meanwhile over at Jelmoli Holding, the Swiss retailer and real estate group, profits also shrunk by almost 30 per cent to SFr64.7 million - down from SFr89.4 million in 2000.

The group's full year sales rose by 17.5 per cent to SFr1.122 billion. "Bright prospects for the Jelmoli group remain effectively unchanged despite the setback in profit for 2001," said the company.

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