Monday, November 8, 2004

Marconi Reports Sales of £305 Million

Marconi reported quarterly sales of £305 million, a 4% increase compared to the previous year. The company reported increased demand for broadband and fixed wireless access networks, and an improvement in its book-to-bill ratio across all its businesses. Gross margin for the quarter was 33.1%. Marconi also reaffirmed its FY05 outlook, saying it expects low single digit sales growth at constant currency. Adjusted quarterly operating profit was £2 million and there was a group operating loss of £29 million.

"The results confirm the progress we have been making in improving profitability year on year. We are working to improve our gross margins through further operational improvements," said Mike Parton, CEO.


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