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Unaxis still in the red

Unaxis says it does not expect sales and operating results to exceded those of last year Keystone Archive

The Swiss technology group, Unaxis, has failed to pull itself out of the red after reporting a first half operating loss of SFr74 million ($48 million).

This content was published on August 27, 2002 - 10:41

The firm said it had narrowed the loss by SFr13 million compared with the same period last year.

Unaxis blamed its poor results on continued weak global demand as well as a "delayed recovery in IT markets". It reiterated its forecast for the full year, saying results would be below 2001.

Unaxis provides manufacturing systems to IT sectors including semiconductors, flat panel displays, data storage and optical components. It has narrowed its focus after selling off its Bally shoe operations and Pilatus aircraft business.

Its loss was also attributable to its stake in Esec, where sales fell 51 per cent to SFr70 million in the first six months, But Esec cut operating losses to SFr23 million from SFr43 million by reducing expenses.

Unaxis said it expected its sales and operating results for the full-year from April to be below those of 2001.

Unaxis shares have lost 16.2 per cent this year after halving in value in 2001.

Lindt & Sprüngli

Chocolate makers Lindt & Sprüngli had more to cheer about. The company's first half sales rose by 6.3 per cent although it still recorded an operating loss.

"The company is well on the way to achieving its strategic goal of an annual growth of five to seven per cent," Lindt said in a statement.

Its operating loss shrank by 8.2 per cent to SFr 14.5 million although the firm stressed that it always posts first half losses due to the seasonality of its business.

The chocolate maker managed one the highest rates of growth in its sector, despite a "stagnating chocolate market".

In the United States and Canada, the group again recorded growth rates in the "double digits".

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