ARCHIVE 2003

COMET Holding AG posts higher 2002 profit on security products

Comet Holding AG posted a higher profit last year as the company that listed its shares on the main Swiss bourse in 2002 benefited from demand for its x-ray technology products and radiation-measuring devices. Sales increased about 5% to more than CHF 73 mn. The Flamatt, Switzerland-based company said it has higher orders at the business that makes industrial x-ray tubes used in security checks of luggage than at the start of last year. COMET expects to benefit from growth in that market, where it competes against US rival Varian Medical Systems Inc. The world's largest maker of vaccum condensers, parts used in the production of plasma products, said it will introduce shorter working hours at that unit on an "uncertain" business outlook in the semiconductor industry.