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Profits jump 75% at Landis

But job losses imminent

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Pan-European distributor Landis saw profits rise 75 per cent for the first half of the year.

Net profit at the company grew to 12.5 million euros ($11.1 million) from 7.1 million euros in the first six months of 2000.

Sales grew 54 per cent to 389 million euros.

The Netherlands-based company said it did not expect the sector to get back on its feet this year.

"The European markets for products and services have shown no sign of recovery compared to the same period of last year," it said in a statement.

"As announced by leading product vendors, expectations of market recovery have been further deferred. Generally, a recovery in the market is not expected before 2002."

Landis also hinted at job losses, stating that although a 'small recovery' was expected in the telecoms sector in the second half of this year, the market would not fully pick up until 2002.

"In view of the expected delay in recovery of the data and telecom markets Landis will adapt the personnel capacity further to this situation," it said. Landis has around 3,200 employees. ®

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