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3 Group grows FY EBIT 54%, reaches positive opg cash flow
2014-02-28 09:16:00| Telecompaper Headlines
(Telecompaper) Hutchison Whampoa's 3 Group reported EBITDA up 38 percent in 2013 to HKD 12.67 billion. Its EBITDA margin jumped to 27 percent from 21 in 2012. Revenues rose 6 percent to HKD 61.98 billion, with a 4 percent increase in local currencies and 9 percent growth in service revenue. Operating profit (EBIT) was up 54 percent to EUR 4.86 billion. The mobile operator also reached the milestone of positive operating cash flow, measured as EBITDA minus capex, at HKD 2.50 billion versus a negative HKD 2.13 billion in 2012. This followed a small drop in capex last year, to HKD 10.18 billion. The company's growth was helped by its takeover of Orange Austria, and the company expects to complete its takeover of O2 Ireland in Q2 this year, pending regulatory approval. With the stabilisation of termination rates in Europe and the company's move to a no-subsidy handset model, 3 said it's set for further growth in the coming year, supported by demand for smartphones and data services. 3 finished 2013 with 22.14 million active customers in Europe, up from 18.54 million a year earlier, led by a doubling in the Austrian base and double-digit growth in every other market apart from the UK. The share of postpaid increased to 59 percent from 56 at the end of 2012. ARPU was still down 12 percent to EUR 21.13 on a 12-month trailing basis. Total data traffic rose to over 384 petabytes from 247 in 2012, and average use per customer increased to 18.2 GB in 2013 from 14.0 in 2012.
Tags: group
positive
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Jos. A. Bank's cash hoard trips up Men's Wearhouse
2014-02-27 22:00:16| Apparel - Topix.net
Back when it was still proudly called the schmatta trade, you would have expected retailers to be run as cash-focused operations.
Call for flood cash rise in Budget
2014-02-26 01:02:37| BBC News | Business | UK Edition
Spending on flood risk management should be substantially increased in next month's Budget, urges a leading engineering organisation.
Pork Commentary: Lean Hog Futures, Cash Move Higher
2014-02-25 01:00:00| ThePigSite - Industry News
US - The hog market is rolling. The momentum is breath taking. On Friday, June lean hog futures closed at 108, July 107.50, August 106, October 92. All across the board lean hogs pushed higher with record prices, writes Jim Long in this week's Pork Commentary.
Tags: move
higher
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commentary
Rangers fans seek cash assurances
2014-02-22 11:19:55| BBC News | Business | UK Edition
Rangers fans groups write to chief executive Graham Wallace expressing concern about proposed borrowings.
Tags: cash
fans
seek
assurances
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