Olivetti is enjoying the fruits of its massive turnaround strategy as it posts its first net profit in six years.
Net profits totalled L16 billion (#9.03 million) last year against a loss of L915 billion in 1996.
Tne earnings also reflect the telecomms alliance with Mannesmann of Germany, which paid L1,119 billion last year as the first installment for its 25 per cent stake in Olivetti's Oliman telecomms subsidiary. Last year, Olivetti also sold its Olsys IT services company to Wang.
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