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SIG: losses.

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Fonction Financial News

SIG, the company that used to produce firearms and railway carriages, last year derided to position itself as a supplier of packaging materials, equipment and services for the growing beverages industry.

The company has reported a loss of Euro 20 million (CHF31.63 million) in 2003 as it continues to focus on the drinks packaging business.

While sales at the industrial concern rose by one per cent to Euro1.896 billion, operating profit in core activities slipped to Euro120 million, down front Euro139 million in 2002 when SIG reported a net profit of Euro10 million.

SIG issued a statement saying that it expected growth in sales and a "significantly improved" operating and net profit for this year.

It added that the upbeat outlook and solid finances allowed it to maintain...

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