Olivetti has managed to cut its losses for the first half of 1998 and said it expects to break into profit for the full year.
The IT and telecomms company posted a L89 billion ($53 million) loss for the first six months of 1998, compared to L335 billion loss for the same period last year.
Revenue grew 58 per cent to L2.9 trillion. Much of the increase in revenue was down to Omnitel, its cellular mobile phone subsidiary. Last year the company managed to record a profit for the full year, although thanks mainly to some large one time gains.
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