Ericsson: feeling the benefit of new found industry optimism

Ericsson yesterday reported first half profits well above expectations thanks to what it described as a mood of confidence returning to the industry. 3G rollouts, GSM capacity expansions and EDGE upgrades were all cited as reasons behind the buoyant results. In the three months to 30 June 2004 Ericsson reported a pre-tax profit of SKR7.8 billion on sales up 18% to SKR32.6 billion. All regions generated improved sales, although those from India, China and Mexico were particularly strong. Orders booked rose 17% to SKR33.1 billion, unchanged on the previous quarter.