The German industrial conglomerate Mannesmann enjoyed an increase of around 50% in its pre-tax profits last year, with its telecoms division (including Mannesmann Arcor in Germany and its investments in fixed and mobile telephony in Italy) making a major contribution to the result. The group issued preliminary results on Friday, saying that it expects to report a pre-tax profit of DM2.6bn ($1.54bn) for the year, up 50% on its 1997 result. It also predicted a significant increase in its net profit. As for revenues, Mannesmann said they grew 14% to DM37bn ($21.8bn) last year, again thanks primarily to its telecoms and automotive sectors. The group will publish definitive figures for 1998 in mid-February.
