Friday, February 18, 2011

Swisscom earned less because of Fastweb's daughter

Provisions for the Italian broadband subsidiary Fastweb, Swisscom has the lower profit last year. Sales of the largest telecommunications company in Switzerland was very light.

Revenues decreased slightly by 0.1 percent to almost 12 billion Swiss francs (9.2 billion euros), such as Swisscom announced on Thursday. Profits declined by 7.1 percent to 1.7 billion francs. The Milan broadband provider Fastweb in Italy is involved in a tax scandal. For the procedure, Swisscom has returned EUR 70 million.

Swisscom has missed the expectations of analysts who had expected a slight sales increase. Adjusted for currency effects, sales would have risen by 2.1 percent, however.

No comments:

Post a Comment