Gazprom's Net Profit Jumps 7.3%
Jun 30, 11:36 AM EDT |
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| Net profit rose 7.3% to 658 billion rubles in 2007 from 613.3 billion rubles in 2006 with sales up 11% on higher domestic and export selling prices. |
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| The world''''s largest producer of natural gas OAO Gazprom said 2007 operating expenses increased 24% to 1.689 trillion rubles hit by the growing prices for gas purchased in Central Asian countries for reselling. The company’s shares have rebounded after losing 15% of their value this year as investors started to sell emerging-market stocks affected by the economic worries in the U.S. |
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LSE Profit Rises 59% Lifted By Borsa Italiana
May 23, 1:57 PM EDT |
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| Revenues rose 56% to £546 from £349.6 million a year ago after the launch of TradElect helped boost trading volumes by 80% during the year. |
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| LSE was successful in attracting new additional listing, with the total number of overseas companies joining the Main Market increasing to 39 from 35 a year ago. In the first two months of the year, 8 new companies were added on the Main Market, with listings from Mexico and Czech Republic raising over US$4 billion in the process. The acquisition of Borsa Italiana in April 2006 also helped boost profits. The Exchange said the encouraging start to the year is indicative of the bright prospects. |
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Barclays Loss on £1.7 B Charge
May 15, 10:59 AM EDT |
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| Barclays, global bank based in the UK took a whopping charge as its portfolio of loans exposed to U.S. loans deteriorate. |
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| Barclays, the British bank with a significant presence in the U.S. reported first quarter loss of £1.1 billion in the quarter on the charge of £1.7 billion related to credit market losses and still has exposure to £14 billion pounds to subprime and other asset backed loans at the end of the first quarter. The leverage finance loan exposure is £7.4 billion. The capital and equity ratios at the bank were lower than a quarter ago but the bank is sending no signal that it needs to raise capital. |
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Bovis Homes Group Profit Falls 6%
Mar 10, 2:57 PM EDT |
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| Second half profit slumped 17% from a year ago to £45.8 million as the average selling price slid 2.3% to £179,500 and the number of plots fell 10%. |
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| The most profitable homebuilder in the U.K. Bovis Home Group said that its annual revenues declined 7% from a year ago to £555.7 million as average sales prices fell 2% to £179,500, while legal completions fell 6% year-on-year to £2,930. Operating profit for the year also plummeted 10% to £124,4 million from £137 million last year. The company proposes full-year dividend of 35 pence per share |
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Earnings: LVMH, Accor, Tesco
Apr 15, 6:05 PM EDT |
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| LVMH reported a rise in sales as luxury goods retailer benefited from 12% rise in world sales. Accor revenue in the U.S. fell. |
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| LVMH, luxury goods retailer reported 5% rise in sales in the first quarter. Except at wine and spirit division, sales rose across the board in leather goods, cosmetics, perfumes and jewelry. However, first quarter revenue at largest European hotel operator fell 5% on sale of the U.S. chain Red Roof Inn and exchange rate losses. The third largest European retailer Tesco reported 12% rise in earnings on 11% rise in sales. The company said its losses in U.S. retail chain is within budget. |
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Carnival Lowers Guidance, Rising Fuel Costs
Mar 21, 6:06 PM EDT |
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| Carnival managed to carry 1.9 million passengers in the first fiscal 2008 quarter, 150,000 more than a year ago, despite economic slow down. |
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| Carnival Corp, the largest cruise liner reported first quarter 2008 revenue increase of 17% to $3.15 billion and net income decline of 17% to $236 million. Earnings per share declined to 30 cents compared to 35 cents a year ago. Carnival lowered its earnings guidance to between 42 cents and 44 cents from 48 cents in the second quarter. Higher fuel costs are taking a big bite out of the rising berth yields on weak dollar. |
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Schroders Profit Rises 35%
Mar 05, 10:56 PM EST |
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| Profit attributable to shareholders in 2007 increased to £303.7 million from £221.9 million in 2006 as asset under management rose to £139.1 billion. |
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| Global asset manager Schroders reported annual revenues jumped to £1.19 billion from £967 million as income in private banking rose 11% to £105.9 million. Asset management profit before tax rose from £219 million in 2006 to £266.5 million in 2007. Schroder expanded in India and Dubai, UAE in 2007. |
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Cathay Earnings Soar 72%
Mar 05, 10:40 PM EST |
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| Net profit in 2007 increases 72% to HK$7.02 billion from HK$4.08 billion in 2006. Revenue rose 24% to HK$75.35 billion. |
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| Hong Kong’s largest airline reported 2007 net profit increases 72% to HK$7.02 billion helped by a weak dollar and rising passenger demand. Together with subsidiary, Dragonair, the carrier carried 23.35 million passengers last year. Cathay Pacific warned of a tough 2008 on rising fuel costs and increased competition. |
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RBS Earnings Rises 6.4%, Lowers Outlook
Mar 05, 10:07 PM EST |
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| Pre-tax profit rose to £9.96 billion from £9.19 billion last year. Earnings per share increased to 76.4 pence from 64.4 pence in 2006. |
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| U.K’s second largest bank said fiscal 2007 pre-tax profit rose to £9.96 billion helped by higher growth in the U.K corporate and retail banking divisions. Income gained 6.4% to £25 billion. RBS warned of a sluggish 2008 and lowered its earnings estimate for the current year. The bank has commercial mortgage exposure, consisting of loans originated for the purposes of securitization of £8.8 billion at December 31, 2007. |
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Whitebread to Merge Units, Slower Sales
Mar 01, 12:10 AM EST |
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| Like-for-Like sales growth eased to 5.7% from 5.8%, estimates fiscal 2007 pre-tax profit around £208 million. |
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| The U.K hotel and restaurant group said it planned to merger it hotel, restaurants and pubs division and save £25 million per year in 2009 and 2010. The merger would be done at a cost of £35 million and has mainly been driven by weaker sales growth within the restaurants and pubs units. In the 50 weeks to February 14, Whitbread said like-for-like sales slowed to 5.7% and total sales gained 11.3%. |
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