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February 13, 1997updated 05 Sep 2016 12:52pm

ORIGIN, DESPITE MERGER COSTS, PROMISES A MUCH BETTER 1997

By CBR Staff Writer

Computer services major Origin NV, 82% owned by Philips Electronics NV is one of the many still underperforming assets in the Philips portfolio, losing the equivalent of $52m on its operations last year. It insists that it will see a strong increase in income from operations in 1997, despite further merger-related costs. The total net loss was $57.6m as a result of the costs arising from the merger of BSO/Origin into Philips Communications & Processing. Sales rose 25.9% to $1.29bn. We have made significant progress in bringing together two very different but complementary organizations, Origin chief executive Tom Butler said. Above average growth and profits are the 1997 goal.

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