World Business Briefing | Europe: Finland: Loss At Phone Company
Sonera, a Finnish phone company, recorded a second-quarter pretax loss, excluding capital gains and nonrecurring items, as spending was high on new products and expansion abroad. The company said it lost 28 million euros ($24 million), before taxes and special items, in contrast to an 85 million euro profit a year earlier. Revenue increased 11 percent, to 557 million euros. Suzanne Kapner (NYT)