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Thomson slashes losses, shares rise
Paris (AFP) Jul 27, 2006 French digital technology group Thomson said on Thursday it had slashed a net loss in the first half of the year, sparking a sharp rise in its share price on the Paris stock exchange. The group announced a loss of 71 million euros (90 million dollars) in the first six months of the year, compared with 438 million euros in the same period of last year. "The net loss has been sharply reduced, divided by six," said chief executive Frank Dangeard during a press conference. The company said cost-cutting measures would continue this year and stuck to its previous targets, which include turning a profit in 2006. Sales in the first six months rose to 2.629 billion euros, compared with 2.580 billion euros in 2005, but operating profit dropped to 108 million euros from 143 million euros. On the Paris stock exchange, Thomson shares showed a gain of 6.66 percent to 13.45 euros. Community Email This Article Comment On This Article Related Links All about the technology of space and more
Technip strikes profits bonanza, hits production snags
Paris (AFP) Jul 27, 2006 French oil services group Technip raised net profit in the second quarter by 55.0 percent and raised its profit forecast for the year while warning on Thursday that it was encountering manufacturing problems. |
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