HSBC: U.S. Subprime Woes, Asia Shines
Mar 03, 10:16 PM EST |
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| Second half profits rose 5% to $10.1 billion driven mainly by strong growth in the Asia-Pacific region offsetting a $2.4 billion loss in North America |
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| HSBC reported total operating income rose 25% to $87 billion from $70 billion from a year ago thanks to revenues from emerging markets that offset subprime related losses. Profits before tax grew 24.8% to $6 billion in the rest of the Asia-Pacific region, while profit rose 35.5% from $6.9 billion to $8.5 billion in Europe. HSBC issued a cautious 2008 outlook. |
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Stan Chart Earnings Up 25%
Feb 28, 1:51 PM EST |
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| Standard Chartered reported its full year 2007 earnings per share increase of 16% to 197.6 cents on earnings rise of 25% to $2.8 billion. |
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| Standard Chartered reported 2007 operating income rose 28% to $11.06 billion and profit attributable to shareholders increased 25% to $4.05 billion. The bank benefited from the rising wealth in China, India, and Middle Eastern region. The bank generated $2 billion of income and $1 billion of profit in Hong Kong and for the first saw operating income in India rise above $1 billion. In September the bank raised $2 billion. |
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Persimmon Lifts Dividend, Cloudy Outlook
Feb 28, 12:45 PM EST |
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| Second half pre-tax profit declined 2% to £304 million from £310.6 million as home completions fell 5% to 15,905. |
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| U.K.’s largest homebuilder managed to fight of fears of sharp sales drop for the year 2007. Sales declined to £3 billion from £3.1 billion a year ago as unit sales slumped from 16,701 to 15,905. The average selling price increased marginally by 1% to £189,558. Persimmon also reported dividend for the year rose 10% to 51.2 pence from 46.5 pence a year ago. Current tight credit conditions are likely to impact sales and earnings in 2008. |
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Cadbury Profit Declines 2%
Feb 20, 3:32 PM EST |
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| Annual profit before tax dropped 2% to £670 from £738 million despite 7% growth in revenues from £7.4 billion last year to £7.9 billion. |
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| Cadbury Schweppes revenues rose 7% to £7.9 billion from £7.4 billion in 2006 as base business revenues in the confectionery business jumped 7%, while the American beverages unit grew revenues by 4% despite the challenging business environment. Underlying earnings per share for the year declined 4% to 30.2 pence from 31.6 pence a year earlier. The company’s annual dividend rose 11% to 15.5 pence from 14 pence. |
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Barclays Earnings Calmed Investors
Feb 19, 4:42 PM EST |
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| Barclays steady profit, a decline of 1% from a year ago, met expectations of analysts and lifted other banks in the regional trading. |
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| Total net income in 2007 increased 7% to 23 billion pounds from a year ago and impairment charges rose 30% to 2.8 billion pounds from 2.1 billion pounds. Barclays reported tier 1 capital ratio of 7.8% and increased its final dividend 10% to 22.5p and full-year dividend to 34p from 31p in 2006. Diluted earnings per share declined to 66.7p from 69.8p in the previous year. UK retail banking rose 9% and wealth management unit surged 25% in reveune in the year but the international banking fell 23%. |
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Volumes and Prices Lift Rio Tinto’s Profit
Feb 14, 12:56 PM EST |
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| The global mining company posted a 9% jump in profit for the second half of fiscal 2007, partly thanks to record iron-ore production. |
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| Rio Tinto’s full-year EBITDA rose 11% from a year ago to $13.9 billion as prices of all commodities rose above their 2006 levels, with the price of copper increasing by more than six times from last year. Net earnings for the year declined 2% from a year ago to $7.3 billion. The company again rebuffed a takeover bid by its rival BHP Billiton. |
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Unscheduled Losses Drag British Energy Profit
Feb 14, 9:39 AM EST |
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| Quarterly profit declined to £140 million from £171 million a year ago as performance was hurt by losses at Hartelpool and Heysham 1. |
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| The biggest UK power producer said that plant shutdowns and reduced capacity at some stations negatively impacted the company’s nine-month profit. Revenues for the nine months fell to £2.15 billion from £2.11 billion a year earlier. Earnings per share for the nine months declined to £26.4 from £27.1 a year ago. |
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Unilever’s Revenue Rises but Profit Declines
Feb 08, 8:58 AM EST |
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| Net profit declined to 721 million euros ($1.06 billion) in the latest quarter from 2.03 billion euros reported a year ago. |
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| The world''s second largest maker of consumer products said that sales for the quarter increased 1.7% from a year ago to 9.89 billion euros ($14.6 billion). The management said they continued to see growth in the US, despite recession concerns. Unilever forecast company-wide sales growth at the upper end of a 3% - 5% range in 2008. |
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Smith & Nephew’s Net Profit Falls on Costs
Feb 08, 8:47 AM EST |
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| Quarterly net income fell 26% from a year ago to $222 million and revenue rose 25% to $967 million after Smith & Nephew acquired Plus Orthopedics. |
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| Full-year sales rose 10% from a year ago to $3.4 billion, while trading profit climbed 17% to $706 million. The trading margin in the latest quarter declined as a result of the acquisition costs during the year, amounting to 70 basis points below the year-earlier numbers. Reported trading profit for the year was up 24% to $706 million with a 21% trading margin, 50 basis points higher than 2006 on the benefits of restructuring. |
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BHP First Half Profit Declines on Higher Costs
Feb 06, 2:47 PM EST |
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| BHP reported first half profit declined 2.8% to $6.0 billion but earnings per share increased 2.8% to $1.06 on fewer shares. |
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| BHP Billiton petroleum unit earnings climbed 22.3% to US$1.97 million for the first half ended Dec. 31, 2007 thanks to stronger production and higher prices for oil and gas outputs. Total production for the 6 months was 60.5 million BOE, up 5% from a year ago. Petroleum outputs enjoyed higher average realised prices in the quarter, with the biggest gain in the price of oil outputs at an average US$81.20 per barrel, up from US$63.77 a year ago. |
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