Swisscom plays it safe

15 May 2003

In its first quarter results statement Swisscom has announced that despite having few growth prospects at home, it will not be embarking on a foreign acquisition spree. The company, one of the few European incumbents to actually have cash in the bank, forecasts a flat full-year EBITDA of around CHF4.4 billion. Net profit for the first quarter fell 2.6% to 409 million on sales of CHF3.52 billion.