Archived posting to the Leica Users Group, 2002/02/27

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Subject: [Leica] Leica sees loss double
From: Mike Gil <dtt2150@yahoo.com>
Date: Wed, 27 Feb 2002 09:03:26 -0800 (PST)

Leica sees loss double

(Leica Verdoppelt Verlust)

Suddeutsche Zeitung: Tuesday, February 26, 2002 


Leica Camera AG, the German photographic equipment
manufacturer, has suffered a setback to its efforts
towards a recovery. The company had aimed for a profit
for business year 2001/02 (ending March 31), but
results for the first nine months indicate that it
will fail to meet this target. For the nine-month
period, the pre-tax loss has more than doubled to
almost 2.3m euros, while the post-tax deficit has
reached similar dimensions, compared with around 1.4m
euros for 2000/01.

The company has suffered from the fact that it has not
recently offered any innovative products. Its new
digital compact camera, developed in collaboration
with Japanese-based Panasonic, will not come on to the
market until April or May. Following the
deconsolidation of Minox GmbH, nine-monthly turnover
has slipped by 14.8 per cent to 101.6m euros. However,
restructuring measures are still reported to be 'under
control'. The company has succeeded in reducing bank
debts by 20 per cent to 34m euros.

Abstracted from Suddeutsche Zeitung


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