Archive – Banking & Fintech

Profits soar at Geberit

This content was published on Mar 21, 2001 The company, based in canton St Gallen, said in a statement on Wednesday that it expected solid organic growth this year despite a difficult economic environment, especially in its key market, Germany. Weak consumer sentiment and stagnating construction activity in eastern Germany have weighed heavily on business in that country recently. “Given better financial results…

Kuoni reports rising profits despite weakness in Europe

This content was published on Mar 21, 2001 Net profit last year rose 32 per cent at SFr115.1 million ($68 million) and the company proposed increasing its dividend from SFr11 to SFr12 per share. Sales over the year increased 17 per cent to SFr3.5 billion. Analysts were disappointed that the net profit figure failed to meet expectations of around SFr120 million for 2000.…

Von Roll recovers after difficult year

This content was published on Mar 20, 2001 However, Von Roll’s chief executive Martin Messmer told swissinfo that the company had not made as much progress as he had hoped. “We only started our reorganisation programme “Focus 2000″ in the middle of last year,” Messmer explained. “We have had some successes but we have to continue with the programme over the next two…

Zurich adds US alliance to overseas interests

This content was published on Mar 20, 2001 Under the new agreement, announced on Tuesday, Zurich’s United States-based Farmers Insurance group will link up with Bank of America to offer services in several markets from July. The companies said the alliance was unmatched by competitors in US banking and insurance. “The United States is the largest market in the world. We believe this…

Clariant announces job cuts despite strong sales

This content was published on Mar 20, 2001 The company, based near Basel, said 2001 had got off to a “weak start” but added that business should develop at a “dynamic pace” this year. In a statement on Tuesday, Clariant said it had achieved significant growth in 2000. Sales increased by 16 per cent over 1999 to reach SFr10.583 billion ($6.25 billion). However,…

Ticinese wine comes of age

This content was published on Mar 20, 2001 Ticino’s vineyards stretch across the sun-drenched valleys of Mendrisiotto, and the region, which yields some six million bottles a year, is traditionally known for its ruby-red Merlot. The canton has a long tradition of winemaking, but has yet to build an international reputation, like California’s Napa Valley. In the past two decades, though, a new…

Vodafone given green light to buy stake in Swisscom Mobile

This content was published on Mar 19, 2001 The shareholders approved the sell-off, which will cost the British phone giant SFr4.5 billion, at a meeting in Zurich. The Swiss government, which controls over 65 percent of Swisscom, has already given the move the green light. The deal is due to be finalised in November. It will give Swisscom access to third generation mobile…

Slow start to year for Syngenta

This content was published on Mar 19, 2001 The Swiss-based group was formed in November from the merger of the agribusinesses of Switzerland’s Novartis and Britain’s AstraZeneca. Shares on the Swiss stock exchange dropped 4.5 per cent at one point in early trading on Monday after the disappointing sales announcement was made. However, prices rallied later in the day. Pre-tax earnings for 2000…

Swiss firms in running to buy DuPont’s drug arm

This content was published on Mar 19, 2001 Britain’s Financial Times newspaper said on Monday that a deal would be a rare opportunity for a European firm to acquire a strong position in the US at a reasonable price of less than $10 billion (SFr17 billion). According to the paper three companies – Bayer of Germany, Switzerland’s Novartis and Anglo-American group GlaxoSmithKline –…

New boss promises clean sweep at SAirGroup

This content was published on Mar 19, 2001 “One thing is clear, we cannot tolerate these kind of losses,” said Mario Corti, in an interview with the French-language Swiss television programme “Droite de Cité”. His comments come after he was appointed to the helm of SAirGroup last Friday. The company is struggling to turn itself around amid a failed expansion strategy, which has…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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Profits soar at Geberit

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Kuoni reports rising profits despite weakness in Europe

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Von Roll recovers after difficult year

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Zurich adds US alliance to overseas interests

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Clariant announces job cuts despite strong sales

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Ticinese wine comes of age

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Vodafone given green light to buy stake in Swisscom Mobile

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Slow start to year for Syngenta

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Swiss firms in running to buy DuPont’s drug arm

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New boss promises clean sweep at SAirGroup

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