ERICSSON PROFITS DOWN 7% IN 1999.

• Position: Company Financial Information

On January 28, the Swedish telecommunication giant Ericsson announced a 7% fall in net profits for 1999 to 12.1 billion Krones (Euro 1.239 billion), compared with SKr13 billion in 1998. Pre-tax profits are also down 10%, from SKr18.2 to 16.4 billion. Turnover, by contrast, rose 17% from SKR184.44 to 215.4 billion thanks to good performance over the final quarter with sales up by a quarter to SKr73.8 billion and firm orders up 40% to SKr66 billion. Operating profits fell 9% from SKr19.273 to 17.59 billion with profits per share down from Skr6.66 to 6.17. The United States remains the group's premier market, yielding a turnover of SKr23.6 billion and accounting for 11% of net sales, up 39% on the previous year. Sales in China, Ericsson's second market, declined by 16% to SKr18.8 billion but sales increased 15% in Great Britain to SKr15.9 billion. Other leading markets include Brazil (Skr14.3 billion, +20%), Spain...