Swiss telecommunications group Ascom Holding AG has returned to interim profit and expects a slight net profit for the full year. However the enterprise network division, Ascom Timeplex, lost $6.2m in the half and continued high research and development needs, 20% of turnover this year and next, will restrict earnings. Ascom will restructure further and has made a new $205.4m provision, down 58.9%. It has already spun-off the loss-making private mobile radio division and sold cable network activities. It hopes to complete its co-operation pact with L M Ericsson Telfon AB in public telephone exchanges by year-end, though final approval rests with the European Union cartel authorities and also sell hearing aid and energy activities. The markets liked the return to the black, adding $46.3 to its share price of $1,212.3 on the Zurich bourse.
