Marconi warns of poor quarter ahead, despite slight rise in revenues

23 Oct 2003

UK equipment maker Marconi Corp yesterday reported a 6% rise in quarterly revenues, but said that the outlook for the sector remained bleak in the short-term. The London-based manufacturer announced revenues of GBP389 million for the three months to the end of September, up from GBP367 million in the previous quarter, but down from GBP514 million in the corresponding period of 2002. The company revealed that its sales since June 2003 had been helped by a strong performance in the US, with the government providing the bulk of its business. Marconi said that although its current trading conditions remained challenging, it was expecting an upturn in fortunes during the first quarter of 2004 following a raft of recent orders and stronger demand for its fixed wireless access equipment, particularly from Germany.

United Kingdom