Thomson suffers for currency movements in H1

July 25, 2008 - French firm Thomson has posted a loss of €182mn for the first half of this year, with currency movements impairing a stronger revenue performance for its Access Products division in the second quarter of this year.

Between April and June the company shipped 2.8mn satellite set-top boxes (STBs), up from 2.5mn one year previously; 1.5mn cable units and modems, up from 1.2mn one year previously; and 2.9mn access products for telecom operators, up from 2.6mn one year previously, bringing a total of 7.3mn units in the quarter, compared to 6.4mn one year previously. Thomson also reports that increased sales volumes were offset by price declines.

The firm's Systems Division as a whole achieved revenues of €644mn for the second quarter of this year, compared to €698mn one year previously, with currency movements decreasing revenues by €48mn during the period. Thomson also announced the appointment of Frédéric Rose as CEO effective September 1st of this year.