French digital technology group Thomson said on Thursday it had slashed a net loss in the first half of the year, sparking a sharp rise in its share price on the Paris stock exchange.
The group announced a loss of 71 million euros (90 million dollars) in the first six months of the year, compared with 438 million euros in the same period of last year.
"The net loss has been sharply reduced, divided by six," said chief executive Frank Dangeard during a press conference.
The company said cost-cutting measures would continue this year and stuck to its previous targets, which include turning a profit in 2006.
Sales in the first six months rose to 2.629 billion euros, compared with 2.580 billion euros in 2005, but operating profit dropped to 108 million euros from 143 million euros.
On the Paris stock exchange, Thomson shares showed a gain of 6.66 percent to 13.45 euros.
