Media: ASMALLWORLD chairman sees profit in 2021 - SonntagsZeitung
03/06/2018 09:53
** Swiss private social network operator ASMALLWORLD
ASWN.S expects to make a profit in 2021, Chairman and major
investor Patrick Liotard-Vogt tells the SonntagsZeitung
newspaper
** "At the moment we expect 2021, but I would not jump for
joy if that were the case only then," he says in an interview
when asked when the group will be profitable
** He defends decision to raise 8.3 million Swiss francs
($8.4 million) by placing shares soon after its Swiss listing,
saying: "We did not want to raise capital in reserve during the
listing, but only when concrete projects are being accentuated
and that is now the case."
** Says company is in advanced talks to buy a luxury travel
company he does not name. Group is also looking at buying a New
York-based yacht charter business, is interested in offering
private jet travel, and may offer a credit card with special
privileges
** Says sees potential market of 20 million members, adding
of its target to boost membership to 100,000 by 2020 from 29,000
now: "Reaching less than 1 percent of them is anything other
than impossible."
-- Note: Reuters has not verified this story and does not
vouch for its accuracy
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Further company coverage: ASWN.S
($1 = 0.9880 Swiss francs)
(Reporting by Zurich Newsroom; editing by John Stonestreet)
((+41 58 306 7336)(zurich.newsroom@thomsonreuters.com))