Swiss technology firm Ascom swung to a net profit in 2004 as its restructuring drive took hold and it proposed a dividend, adding it aimed to boost sales and profitability in all its units this year. Full-year net profit came in at 47 million Swiss francs ($40.17 million) versus a 68 million francs loss a year ago, Ascom said on Wednesday. The net profit was just above a 40-45 million franc profit range for 2004 Ascom forecast in February.
Ascom gave no further details of its plans to reduce its operations to two units - one making such products as hospital call buttons, another making alarm systems for trains and plants. It intends to sell its other activities. Sales dropped to 1.22 billion francs from 1.52 billion in 2003, also in line with the company's earlier forecast, as Ascom continued a multiyear divestment programme last year. However, on a like-for-like basis, sales rose by 3 percent.
Ascom said it would propose its annual general meeting on April 19 to pay a dividend of 0.275 francs per registered share.
Ascom shares have risen more than 16 percent this year after more than doubling in 2003.
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