Alcatel's operating profits for the first half were fell slightly lower than analysts predictions, but the French telecoms equipment supplier still believes it is on track to hit its fiscal 1999 targets.
The firm’s operating profit dropped 21 per cent to 311 million euros, but analysts had expected a fall of between 10 and 20 per cent. Its revenues increased six per cent to 10.09 billion euros.
Serge Tchuruk, Alcatel’s chief executive, said: "Results for the first six months were in line with our forecasts. While the second half holds some uncertainties related to Year 2000, we are monitoring the situation closely with our customers. Taking into account our current order book, we are on track for our full year 1999 targets."
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