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Sulzer continues upward trend

Sulzer sees higher profits for 2000 Keystone

Profits at Switzerland's Sulzer Corporation have continued to improve. Net profit increased by 45 per cent to SFr61 million ($35 million) in the first half, up from SFr42 million in the same period last year.

This content was published on August 24, 2000 - 10:36

Orders at the Winterthur-based technology group rose by five per cent to SFr2.9 billion during the same period. Sales were more or less unchanged at SFr2.5 billion.

Sulzer chairman, Ueli Roost, said the figures showed the company was "well on course with the 'Performance' restructuring programme".

He added that when exceptional items from the previous year were discounted, the company was likely to enjoy a rise in net income. Last year's figures have been readjusted to exclude exceptional income from the divestment of Sulzer's electrophysiology unit.

The separately listed Sulzer Medica, in which Sulzer holds a 74 per cent stake, saw its sales grow by 14 per cent to SFr685 million over the first half of the year.

In a statement, the company said growth was largely attributable to strong demand worldwide for orthopaedics products and cardiovascular prostheses.

Net income for the first half-year at Sulzer Medica was SFr100 million, an increase of 34 per cent after taking out last year's exceptional gains.

Sulzer's other businesses reported improved market conditions, with a two per cent rise overall in the number of orders to SFr2.2 billion. However, total sales of SFr1.8 billion were relatively low, down four per cent on last year. Sulzer said the increase in orders would not affect sales until the second half of the year.

Sulzer, founded in 1914, is an international technology corporation, which manufactures industrial machinery, engineering products, and offers related services.

Sulzer Medica was spun off by Sulzer in 1997, and listed on the Zurich and New York Stock Exchanges. It manufactures surgical products and implants for use in cardiovascular and orthopaedic applications.

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