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Kraft Foods Profit Falls 13%
Apr 30, 11:57 AM EDT |
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| Net income decline was due to the rising wheat, dairy and energy costs, while price increases and new marketing programs drove sales up. |
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| Kraft Foods earned $608 million, or 40 cents a share in the latest quarter, down from $702 million, or 43 cents a share, in the year-ago comparable period. Excluding special items, earnings remained unchanged at 44 cents a share. Sales rose 20.8% to $10.4 billion, helped by price increases and the weak U.S. dollar. Organic revenue for 2008, excluding acquisitions, is expected to be 5% higher than a year ago, up from the companys earlier forecast of 4% growth. |
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Bank of China Profit Soars 85%
May 01, 10:47 AM EDT |
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| Quarterly net interest income rose 18.74% from a year ago to Rmb40 billion as domestic fees and commission income grew by 115.58% year-on-year. |
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| Bank of China, the nation''s third-largest bank, said that first-quarter profit increased as loan growth countered losses tied to U.S. subprime mortgages. Net fee and commission income grew by 82.93% from a year ago to Rmb9.454 billion, driving the net interest income up by 18.74%. Domestic fee and commission income in the period rose by 115.58% from a year earlier. The Bank cut holdings of subprime-related securities to $4.4 billion in March from $4.99 billion at the end of last quarter. |
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Deutsche Bank Posts a Loss of 141 million
May 01, 10:07 AM EDT |
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| Quarterly pretax loss was 254 million on markdowns of 2.7 billion for leveraged loans, loan commitments, and residential mortgage backed securities. |
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| Germanys biggest bank Deutsche Bank recorded a loss for the first time in five years The bank reported a loss of 141 million (or $220 million) in the latest quarter, compared to a profit of 2.1 billion a year ago. Pretax earnings declined to a loss of 254 million versus a 3.2 billion profit in 2007. The management explained that Deutsche Bank had been forced to write down 2.7 billion in the value of assets. |
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ExxonMobil Earnings Rise, Production Falls
May 01, 9:52 AM EDT |
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| On oil equivalent basis production declined 5.6% in the first quarter. Africa supplied 25% of its crude oil production, the highest from any region. |
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| ExxonMobil reported first quarter revenue increased 57% to $116.8 billion and earnings rose 19% to $10.9 billion and earnings per share increased to $2.05 from $1.64 per share a year ago. The oil giant increased its quarterly dividend by 3 cents to 35 cents. In the quarter the company repurchased $8 billion of shares and spent $5.5 billion on capital projects. |
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Mueller Water Earnings Plunge
Apr 30, 1:02 PM EDT |
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| Mueller Water earnings plunged on 10% decline in revenue. Weak housing market and rising materials cost impacted earnings. |
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| Mueller Water reported second quarter revenue fell 10% to $421 million from $459.7 million and earnings plunged to $5.7 million from $17.9 million. Earnings per share declined to 5 cents per share from 16 cents. Weak hosuing market, rising raw materials cost and strong Canadian currency affected quarterly earnings. |
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Jones Lang Plunges 11%, CB Richard Up 3%
Apr 30, 1:45 PM EDT |
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| CB Richard earnings rise on strong growth in Europe and Middle East but weakness in the earnings in the region hurt Jones Lang LaSalle. |
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| Jones Lang LaSalle first quarter revenue rose 15% to $564 million and earnings plunged 90% to $2.8 million or earnings per share declined to 9 cents from 81 cents in the quarter a year ago. Weak transaction revenue growth in Europe and a decline in capital markets activites hurt the earnings. Separately, CB Richard Ellis reported flat revenue of $1.23 billion and earnings of $20.45 million or 10 cents per share compared to $12 million or 5 cents per share in the quarter a year ago. |
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General Cable Falls on Outlook
Apr 30, 11:58 AM EDT |
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| General Cable sales and earnings rise on recent acqusition. Weakness in U.S. and Spanish housing market affected the revenue. |
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| General Cable reported first quarter revenue rise of 55% to $1.57 billion and earnings surge of 74% to $65.8 million and earnings per share increased to $1.21 from 71 cents. The company guided second quarter revenue between $1.70 and $1.80 billion and earnings per share between $1.20 and $1.30 compared to $1.07 in the second quarter of 2007. |
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On Earnings PG, GM and Express Script Rise
Apr 30, 11:07 AM EDT |
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| Express Script fist quarter revenue rose to $4.6 billion and net income increased to $177 million or 69 cents per share. |
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| General Motors overall revenue edged lower 0.7% but sales in China, India and Brazil surged. GMAC continues to drag the overall performance of the company with a charge of $1.45 billion in the quarter. Net loss in the quarter rose to $5.74 per share of $3.25 billion from a loss of $42 million or 7 cents per share. Consumer products company Procter & Gamble sales rose 9% to $20.52 billion and earnings increased 8% to $2.71 billion and earnings per share rose 11% to 82 cents. |
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Gemalto Annual Profit Rises
Mar 25, 5:31 AM EDT |
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| Revenues in the full year ended December 31st slid 4% to 1.63 billion from 1.69 billion a year earlier. |
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| Digital security company Gemalto attributed the annual revenues decline to the price recovery program that leveraged growth in the Mobile Communications segment. Performance was dragged by the restructuring of the Secure Transactions business that was launched in Western Europe. Annual net profit rose from 1.6 million a year ago to 89.2 million. Basic EPS increased from 0.02 per share to 0.98. |
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Wharf Holdings Profit Surges 22%
Mar 27, 3:29 PM EDT |
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| Annual operating profit increased by 46% from a year ago to HK$9.4 billion as turnover in core investment properties increased. |
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| Property conglomerate Wharf Holdings Group turnover rose by 21% to HK$16.2 billion from HK$13.3 billion a year ago thanks to solid performance from Habour City and Times Square. Average retail occupancy also increased in all the units. Wharf proposed a final dividend for the year of HK$0.44% per share, bringing the total to HK$0.88 per share. |
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