Announcing first half figures, convalescing Swiss telecommunications equipment manufacturer and services company Ascom Holding AG said that given the same market conditions for the second half of the year, it should produce bigger operating profits than the first half, and a better overall result than 1994. It also said it was committed to producing a profit sufficient to enable it to resume dividend payments this year; it paid shareholders nothing on 1994’s results. The bullish statement helped boost the shares 10% to 1.360 Swiss francs. Operating profits jumped from the equivalent of $2.5m to $23.0m this time, but pre-tax profits fell 48% to $9.0m in the half. Ascom said the telecommunications business contributed the most to the improved operating profits, which were further enhanced by the sale of the group’s loss-making business, the bulk of which were sold off in 1994.
