L`Agefi" publishing group minimizes loss
The «L'Agefi» publishing group, based in western Switzerland, was able to significantly reduce its loss in fiscal year 2005.
The publishing group "L`Agefi" in French-speaking Switzerland was able to significantly reduce its loss in the 2005 financial year. The operating loss fell from 1.7 million francs to 1.48 million francs. Agefi Groupe announced on Friday that the result had been negatively impacted by CHF 400,000 due to new accounting standards. On a comparable basis, the loss was 35 percent lower than in the previous year. The cost-cutting program launched in 2005 should take full effect in the current year: The workforce has been reduced by 10 percent and the scope of the business newspaper of the same name has been downsized without touching the substance of its content. The Agefi Group has now been reporting losses for four years. However, the company has made a good start to the new year and made a profit of 407,000 francs in the first quarter.
