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Australian banks under pressure as revenues, dividends seen slowing

2016-02-10 01:54:20| Automakers - Topix.net

SYDNEY, Feb 9 Australia's major banks kick off their reporting season this week with their shares suffering the worst start to a year since the global financial crisis, as a slowing mortgage market and tighter capital rules crimp margins and profits. Analysts expect Commonwealth Bank of Australia to post its slowest half-yearly revenue growth since June 2014 on Wednesday, as one of the world's most profitable banking sectors comes under pressure across multiple fronts.

Tags: pressure banks australian revenues

Samsung sees smartphone market slowing in 2016

2016-01-28 08:35:00| Telecompaper Headlines

(Telecompaper) Samsung Electronics reported a fall in net profit for the fourth quarter, to KRW 3.22 trillion from KRW 5.35 trillion a year ago. Operating profit rose to KRW 6.14 trillion from KRW 5.29 trillion a year earlier, and quarterly revenues were up 0.5 percent year-on-year to KRW 53.32 trillion. The weak sales growth was due to lower revenues from consumer electronics and mobile phones, while the semiconductor and components business continued to grow. Sales at the mobile division fell to KRW 25.00 trillion from 26.29 trillion a year earlier, while operating profit improved to KRW 2.23 trillion from 1.96 trillion. Samsung said it saw higher shipments of the Note 5 as well as its mid-range A series phones, and tablet shipments were also higher on a quarterly basis due to strong seasonality. For the first quarter, Samsung said smartphone and tablet demand will decline due to normal seasonal patterns, while its own earnings should improve thanks to new models and a better product modex. Shipments will decrease slightly due to weak seasonality and discontinuation of old models. For the full year 2016, Samsung expects only single-digit growth in the smartphone and tablet market and strong competition.

Tags: market samsung sees smartphone