OCT 00] MARCONI NEWS
Marconi To Go On The Nasdaq
is to join the rollercoaster ride of the dot com companies by
listing its shares on the topsy-turvy Nasdaq.
firm, which has a huge centre in Coventry, is taking its message
out on the road in the United States to convince traders of its
value before the listing starts next week.
Nasdaq, which lists shares in technology companies, has come
under scrutiny this year as the hype surrounding dot com firms
fizzled out into wariness of their profitability.
of the US listing and roadshow Marconi gave a detailed trading
update on completion of its half year to 30 September 2000. The
half-year results will be announced on 29 November 2000.
far the firm has performed in line with expectations, with sales
booming. There have been orders of £3.3 billion against £2.7
billion in the same period last year.
addition new frame contract wins totalling more than £2.7
billion were announced in the first half, and the outlook for
the full year remains buoyant.
in the optical network business continued to accelerate with
growth in excess of 50 per cent. Overall communication sales
grew by more than 40 per cent in the first half while overall
System sales were in line with last year.
on the announcement, George Simpson, Chief Executive of Marconi
is a very significant moment for Marconi. I am delighted that
our shares will be listed on Nasdaq, as it will mark the next
step in the development of Marconi as a leading global
broadband communications equipment supplier.
listing underlines our commitment to our employees and
customers in the US where we have more than 40 per cent of our