Switzerland's biggest telecommunications company, Swisscom, has posted promising annual figures for 2001 with net profits up 57 per cent at SFr4.9 billion ($2.9 billion).

The solid performance was achieved on sales of SFr14.7 billion, up 0.8 per cent on last year.

Profits before tax, interest, depreciation and goodwill write-offs totalled Sfr4.41 billion, up almost ten per cent on the previous year.

The group said its success had been enhanced by the continued growth of its mobile arm, Swisscom mobile.

The telecoms group announced that its growth forecast for core earnings in 2002 would be flat, despite market expectations that it would upgrade its outlook after its annual results were published.

The annual results should keep shareholders happy as Swisscom is planning an unchanged payout of SFr19 per share, made up of SFr11 as dividend and eight francs as a reduction in the nominal value of shares.

swissinfo with agencies

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