Thomson optimistic on profit turnaround this year

French digital technology specialist Thomson reported a narrowing of its net losses in 2005 and said it would "emerge from the tunnel" and turn a profit this year, an AFP report said.

 

The report said the group incurred a net loss of 573 million euros in 2005, a slight improvement compared with a net loss of 636 million euros in 2004.

 

The report further said Thomson's operating profit from its core media and entertainment business reached 505 million euros.

 

Thomson, which withdrew from its loss-making television tubes business in 2005, also forecast that the group as a whole would return to profit this year, the report said.

 

"2006 will see the company emerge from the tunnel," company finance director Julian Waldron was quoted as saying.

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