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Xiaomi profits fall in Q4 on marketing push to boost overseas growth

2020-03-31 14:04:00| Telecompaper Headlines

(Telecompaper) Xiaomi reported revenues for the fourth quarter of 2019 up 27.1 percent year-on-year to CNY 56.5 billion. Net profit for the period fell to CNY 2.4 billion from CNY 3.4 billion a year earlier, after a sharp rise in marketing and promotional spend to boost sales outside China.

Tags: marketing fall growth push

Pernod Ricard prepares for profits slump in fiscal-2020 - trading update - comment

2020-03-24 13:02:00| Daily beverage news and comment - from just-drinks.com

Pernod Ricard has revised its outlook for the current fiscal year, with operating profits expected to tumble by around 20%.

Tags: comment update trading profits

China's Muyuan Foods reports extra profits on top of 2019 record hog prices

2020-02-27 10:28:00| ThePigSite - Industry News

China's No. 2 pork producers Muyuan Foods Co Ltd said on Wednesday (26 February) that full-year profits for 2019 surged more than 1,000 percent to 6.1 billion yuan ($869.84 million) thanks to record hog prices last year.

Tags: top reports record prices

Lenovo quarterly sales flat, profits up on premium PC growth

2020-02-20 08:57:00| Telecompaper Headlines

(Telecompaper) Lenovo reported sales unchanged year-on-year for its fiscal third quarter to December, at USD 14.1 billion. Operating profit was still up 12 percent to USD 488 million, thanks to strength in premium PCs and profitability at its mobile business. Net profit increased 11 percent to USD 258 million. The company said it was seeing some impact on its supply chain and production due to the coronavirus outbreak, but would leverage its global footprint to minimise the effect on results.

Tags: sales premium growth flat