Logitech International SA, the Swiss computing peripherals maker which does most of its business in the US, expects net profit to rise by 20 to 30 percent in the current financial year. This follows a fall in net profit from $21m to $15.4m in the year to March 31 following the $11m sale last December of its scanner business to Storm Technology Inc (CI No 3316). Net sales were down from $413m to $390m. CEO Guerrino de Luca forecast the company should boost revenue this year by a percentage on the mid-teens. He said Logitech aimed for an operating margin of eight percent in the long-term compared with the 4.2% it achieves currently. The shares reacted to the news by rising nine Swiss francs to 225 francs.
