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Technology / AI and automation

TURNOVER AND ORDERS DECLINE FOR SWISS LEASING COMPANY

Swiss leasing company COS Computer Systems AG says that turnover for its fiscal first half to September 30 fell 16% to the equivalent of $261m, and that orders fell 26% to about $270m; it said operating profit was satisfactory but did not quantify it; in the year to March, net profit fell 21.5% to $7.2m on turnover that slipped 2% to $666m; the dramatic decline in turnover for the summer months and the fall in orders bode ill for IBM Corp’s business in major European markets.

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CBR Staff Writer

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