Marconi: turned the corner?

19 May 2004

Marconi claims to have turned the corner in its battle to recover from the collapse of the telecoms equipment market, reporting its first quarterly profit in three years. The company reported a GBP11 million pre-tax profit for its fourth quarter, ending 31 March 2004, although sales, at GBP394 million, were down on the GBP430 million reported in the same quarter of 2003. Turnover for the year stood at GBP1.56 billion, while net loss was GBP171 million, a great improvement on the GBP1.33 billion loss recorded the previous year.

United Kingdom