Baumgartner with profit

Paper The Crissier VD-based Baumgartner Papiers Group is back in the black after three years of losses, posting a net profit of CHF 1.3 million for the 2004 financial year. In 2003, a loss of 16.8 million francs had to be reported. Baumgartner cites the restructuring of the Elco business unit (envelopes, stationery) and the sale of the loss-making foreign branches as the reasons for the improvement.