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Swisscom profit jumps after 2011 writedown
February 7, 2013 / 6:45 AM / 5 years ago

Swisscom profit jumps after 2011 writedown

ZURICH, Feb 7 (Reuters) - Telecoms provider Swisscom posted a 153 percent rise in net income for 2012, the jump from 2011 mainly attributable to the previous year’s 1.3 billion euro ($1.76 billion) writedown on its Italian unit Fastweb.

Revenues for the year were 11.384 billion Swiss francs ($12.50 billion), 0.7 percent below the year-earlier figure, as declining fixed line usage and weak pricing continued to eat into revenues.

$1 = 0.7392 euros $1 = 0.9105 Swiss francs Reporting by Martin de Sa'Pinto

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