US technology giant Cisco Systems last night reported a 12% rise in profits thanks to ongoing strong demand for its core products.
The company, which is the world's biggest maker of internet equipment, said its made net profits of $1.54 billion in its fourth quarter to the end of July. Turnover rose by 11% to $6.6 billion compared to the same time a year ago. The figures were broadly in line with market expectations.
Cisco's CEO John Chambers said the company had enjoyed increased profits in all its areas of operation, with demand from its corporate customers leading the way.
