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Tele2 Q1 profit falls on Kazakhstan writedown
2016-04-21 08:09:00| Telecompaper Headlines
(Telecompaper) Tele2 reported a sharp fall in profit for the first quarter, hurt by its activities in Kazakhstan. Net profit fell to SEK 339 million from SEK 517 million a year ago, mainly due to a writedown of SEK 326 million on the goodwill for the Kazakh activities for the weak economic climate and currency devaluation there. Tele2 said it completed its joint venture with Kazakhtelecom in the quarter and integration has started. Customer and revenue growth is improving, and profits should hopefully follow, thanks to synergies from the joint venture and the withdrawal of unprofitable price plans, the company said. EBITDA was also lower, at SEK 1.226 billion versus SEK 1.428 billion a year ago, and the margin fell to 19 percent from 22. Tele2 blamed the decline on costs associated with its commercial ramp-up in the Netherlands following the 4G network launch, Sweden mobile marketing investments and the continued decline in its fixed operations. The company noted that since the launch in the Netherlands, it now offers 4G across its footprint.
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JP Morgan profit falls on US oil loans
2016-04-13 14:39:28| BBC News | Business | UK Edition
JPMorgan Chase has reported a 6.7% drop in quarterly profits as it set aside more funds to cover potential losses at oil and gas companies.
FedEx 3Q profit falls but still beats Wall Street forecasts
2016-03-16 23:55:44| Air Courier - Topix.net
In this Thursday, Dec. 18, 2014, file photo, a Federal Express delivery truck driver returns to his truck after delivering a package to a business, in Springfield, Ill. FedEx reports financial earnings Wednesday, March 16, 2016.
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BP Profit Falls 91%, Missing Estimates, as Oil Slump Deepens
2016-02-02 15:28:27| Energy - Topix.net
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. BP Plc reported a 91 percent decline in fourth-quarter earnings after average crude oil prices dropped to the lowest in more than a decade.
Tags: oil
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missing
BP Profit Falls 91%, Missing Estimates, as Oil Slump Deepens
2016-02-02 13:02:27| Oil & Gas - Topix.net
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. BP Plc reported a 91 percent decline in fourth-quarter earnings after average crude oil prices dropped to the lowest in more than a decade.
Tags: oil
falls
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missing
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