Kudelski turns in strong first half

TV technology provider Kudelski Group has turned in a strong first-half performance despite the adverse impact of the strength of the Swiss franc relative to other currencies.

Kudelski reported first half revenues of CHF425 million (€395 million), up 10.4% in constant currency terms, driven by a strong performance in its non-TV-related public access segment, but also by a strong underlying growth in its core digital TV business. The latter grew by 6.8% in constant currency terms, despite the first half of the prior years including a boost from one-time licensing revenues from a Cisco patent licensing agreement. The digital TV business turned in CHF324.4 million in revenues, with operating income for the segment up 17.9% to CHF52.6 million.

Digital TV deals during the first half included a framework agreement with Altice Group.

Overall Kudelski posted operating income of CHF30.4 million, up 9.7%.