UK: STRONG PERFORMANCE FOR MARCONI
Article Abstract:
Following its restructuring to focus on high-tech telecoms equipment, UK group Marconi, formerly known as GEC, has reported growth in profits for the first half 2000, excluding exceptional items. However, the group's share price has fallen due to investor fears that Marconi will be impacted by the decline in investment by telecoms companies. However, Marconi benefits from its relatively late entry into telecoms equipment, which has allowed it to cherry-pick the strongest technologies. Another concern is that Marconi is one of the smallest companies in the marketplace and could be bought up a larger competitor such as Cisco Systems of the US. This view has been encouraged by the sale of non-core operations, including the planned flotation of the Fibreway fibre-optic networks business. At the same time, the company has enough financial resources to make its own acquisitions and grow into a significant player. Table: Marconi Figures in GBu bn Current Previous/Change Turnover 3.2 2.5 28% Pre-tax Profits (0.066) (0.253) Pre-tax Profits* 0.276 0.253 9.1% Operating Profits 0.320 32% *excluding exceptionals
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 2000
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UK: WILLIAMS LOOKS TO CONCLUDE DEMERGER
Article Abstract:
Williams hopes to conclude the demerger of its Kidde and Chubb units by November 2000, the UK-based security and fire protection group noted on 24 May 2000. The units would become separately quoted operations, with Assa Abloy of Sweden to pay GB[pound] 825mn for the Yale business.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 2000
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UK: NORTEL ANNOUNCES EXPANSION PLANS
Article Abstract:
The Canadian telecommunications equipment manufacturer Nortel Networks has announced plans to create more than 1,300 jobs in the UK over the next three years, as part of a GBu 69mn expansion of its optical switching technology division.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 2000
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