The telecommunications operator, Diax, has reported a successful 1999 business year with turnover totalling more than SFr500 million, 30 per cent more than expected. The Zurich-based company says it now has more than one million customers.

The telecommunications operator, Diax, has reported a successful 1999 business year with turnover totalling more than SFr500 million, 30 per cent more than expected. The Zurich-based company says it now has more than one million customers.

A statement said that net profit also exceeded expectations but gave no figure.

Diax said it anticipated turnover would double this year to about SFr1 billion, thanks to a comprehensive product offer in the areas of fixed network, mobile telephony, data services and the Internet.

The statement added that since the company began operations in 1997, it had invested SFr1 billion in networks and other infrastructure. A further SFr1.3 billion is to be spent over the next two years to expand existing infrastructure.

The holding company of Diax is owned by a number of Swiss electricity companies, the Swiss Reinsurance Company, the Winterthur Life Insurance Company, as well as SBC Communications. Diax employs 1,800 people throughout Switzerland.

Last week, the telecommunications operator, Sunrise, reported 1999 sales of SFr401 million, an increase of 133 per cent over the previous year. "These excellent results place the company among the top 10 strongest IT and telecoms providers in Switzerland," a statement said.

From staff and wire reports

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