Daimler’s Profit Rises 5% on Strong Unit Sales
Feb 19, 12:51 PM EST |
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| Quarterly profit grew to 1.6 billion euro from 12 million euro a year ago thanks to strong units sales, especially of Mercedes Benz vans. |
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| The German maker of luxury vehicles added that full year revenues were unchanged at 99.3 billion euro from 99.2 billion euro last year. Net profit for the fiscal year rose to 3.98 billion euro from 3.7 billion euro a year earlier as unit sales gained 1% to 2,088,973 units from 2,072,885 units a year ago. Full year EBIT also grew 74% from 4.99 billion euro last year to 8.71 billion euro. |
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Subprime Losses Drag UBS Net
Feb 18, 1:40 PM EST |
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| Quarterly net loss was 12.45 billion francs ($11.28 billion) after writing down 15.6 billion francs in mortgage-related investments. |
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| Switzerland''s largest bank UBS said that total operating income fell to 31 billion francs from 47.7 billion francs in the year-ago period as record revenues in equities and investment banking were offset by the global asset management division. UBS management forecasted 2008 will be another difficult year for the company. |
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Renewable Energy Profit Rises
Feb 13, 11:26 AM EST |
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| Quarterly profit rose to 423 million kroner from 336 million kroner in 2006 as shipments rose after shutdowns and disruptions in the third quarter. |
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| Renewable Energy revenues jumped to 6.64 billion kroner from 4.3 billion kroner in the previous year despite the delays in the construction and completion of a new plant for the manufacture of granulated silicon in Moses Lake, U.S. In the fourth quarter, the company announced the selection of a site in Singapore for a large integrated solar manufacturing complex. |
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Credit Suisse Profit Declines 25%
Feb 13, 8:44 AM EST |
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| Quarterly income from continuing operations before tax rose 20% year-on-year buoyed by growth in Private Banking and Investment Banking. |
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| The bank’s net revenues climbed 6% to 40 billion francs in 2007 from 38.6 billion a year earlier as revenues from Wealth Management and Retail and Corporate Banking increased 19% to 5.4 billion francs for the year. Fourth quarter net writedowns on residential mortgage backed securities were 480 million francs, while business net US subprime exposure was at 1.6 billion francs versus 3.9 billion francs the previous quarter. |
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MAN Group Operating Profit Rises 57%
Feb 11, 2:41 PM EST |
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| Operating profit increased to an all time high at 1,730 million pounds up from 1,105 million a year ago. |
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| Sales during the fourth quarter were up by 19% to 15.5 billion pounds from 13 billion pounds a year ago. Sales from commercial vehicles advanced 1.7 billion pounds or 20% to 10.4 billion pounds of which 512 million pounds originated from the sale of leased vehicles from MAN Finance''s fleet. Excluding one-time items, sales of Commercial Vehicles rose by 14% and the MAN Group''s by 15%. |
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Deutsche Bank's Quarterly Profit Falls 48%
Feb 11, 2:12 PM EST |
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| Net income fell to 953 million euros ($1.39 billion), or 1.93 euros a share, hurt by lower debt trading revenue and growing compensation costs |
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| Despite difficult conditions in the leveraged finance markets, Deutsche Bank’s full-year revenues grew 8% year-on-year to 30.7 billion euro driven by a rise in revenues in the Corporate and Investment Banking division and Private Clients and Asset Management segment where 365,000 new clients were acquired in the fourth quarter. The company also said net write-downs in the fourth quarter were less than 50 million euro. |
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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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NYSE Euronext Profit Rockets 246% after Takeover
Feb 05, 1:57 PM EST |
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| Net profit in the fourth quarter increased to $156 million or 59 cents per share from $45 million or 29 cents per share a year ago. |
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| The stock market operator NYSE Euronext net profit tripled after the NYSE’s takeover on the pan-European market Euronext. Net profit for the fiscal year was 643 million euros ($952.5 million), an increase of 214% from a year ago. The profit growth was attributed to the tightened expenses controls and record trading in both the derivative and cash markets. |
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Man Group Profit Climbs 33%
Feb 06, 2:39 PM EST |
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| Sales in Russia rose more than 300% in 2007 and have risen over 100% in Poland over the past half decade. |
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| The German truck maker said fourth quarter revenue climbed 35% to 5.23 billion euro on solid demand across all major business lines, particularly in Poland, where the company has started a plant that is expected to manufacture up to 15, 000 vehicles annually. For 2008, MAN Group expects sales increase of more than 5% and return on sales of over 11%. |
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BP Net Profit Jumps 53% on New Oil Operations
Feb 05, 2:04 PM EST |
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| Net profit rose to $4.4 billion, from $2.88 billion a year ago, while revenue including asset disposals rose to $81.5 billion from $62.8 billion. |
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| BP reported a 53% jump in quarterly net profit Tuesday thanks to the rising oil prices, but full-year profit declined hurt by the climbing expenses and refining outages. Full year net profit fell 5.5% to $20.8 billion, while revenue added 6.2% to $291.4 billion. The management confirmed the plans to cut 5,000 jobs by the middle of next year. |
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