Swisscom first half beats market forecast

8 Aug 2007

Swisscom has announced an upbeat set of first half financials for the six months ended 30 June 2007. The telco beat market forecasts with a 23.5% rise in net profit to CHF936 million (USD782.2 million) and raised its outlook for the full year. The former state monopoly reported that turnover rose 6.7% to CHF5.09 billion in the first six months. It lifted its forecast for full-year turnover to CHF11.2 billion to CHF11.3 billion and for EBITDA to CHF4.4 billion to CHF4.5 billion.

At the beginning of this month Swisscom replaced its Fixnet, Mobile and Solutions units with divisions for private clients, small and medium-sized enterprises and corporate businesses in the largest overhaul since Carsten Schloter became chief executive last year.

Switzerland, Swisscom