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Profits Boost For Eriksson

Published fredag 22 oktober 2004 kl 13.16

The world’s largest supplier of equipment for wireless phone networks, LM Ericsson of Sweden, has posted a third-quarter profit that’s in line with analysts’ expectations and said its mobile networks are expected to show signs of slight growth in the coming months.

The company posted a proft of 4.8 billion kronor for July to September compared with a loss of 3.9 billion in the same period last year.

Eriksson, which has turned the corner and emerged from a massive cost-cutting program that saw thousands of job losses, said its global forecast for the rest of the year and into 2005 was moving steadily ahead.

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