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Japan's Marubeni halves profit outlook on oil price slide, Gavilon
2015-01-26 14:06:15| Grocery - Topix.net
Japanese trading house Marubeni Corp on Monday halved its net profit projection for this business year, booking losses on resource assets due to falls in oil, copper and coal prices. It is now forecasting a net profit of 110 billion yen for the year ending in March, compared with its earlier forecast of 220 billion yen.
Car sales growth halves in China
2015-01-12 11:34:51| BBC News | Business | UK Edition
Growth in vehicle sales in the world's largest car market, China, halved last year as the country's economic expansion slowed.
Vimpelcom sales down 9% in Q3, net profit halves
2014-11-12 09:09:00| Telecompaper Headlines
(Telecompaper) Vimpelcom's net profit more than halved in the third quarter, to USD 104 million from USD 255 million a year ago, due to costs for refinancing its Italian subsidiary Wind and negative currency effects. EBITDA declined 11 percent to USD 2.21 billion, and revenues fell 9 percent to USD 5.15 billion. On an organic basis, revenues fell 3 percent in Russia, 6 percent in Ukraine, 2 percent in Italy and 4 percent in its Asia and Africa division. Only the CIS division showed growth of 5 percent. Vimpelcom said the operating results were affected by macroeconomic weakness, currency fluctuations and operational problems in some markets. Its transformation programs in Russia, Ukraine and Pakistan are on track and those in Bangladesh and Kazakhstan are already delivering results. While Italy remains a weak market, the company said it sees an improving trend at Wind. Following the Wind refinancing and the expected closing of the sale of the Algerian operations by year-end, the group expects to reduce annual interest charges by USD 0.7 billion. The operator's capex was up 4 percent year-on-year to USD 964 million in Q3 excluding licence payments, while operating cash flow fell 4 percent to USD 1.61 billion. Net debt fell 6 percent compared to Q2 to USD 21.74 billion, or 2.5 times annual EBITDA.
UPDATE 2-Loews profit halves due to lower Diamond Offshore earnings
2014-08-04 18:27:24| Oil & Gas - Topix.net
Hotel, energy and financial services conglomerate Loews Corp reported a lower-than-expected quarterly profit, hurt by a drop in profit at its second-biggest subsidiary, Diamond Offshore Drilling Inc. Net income attributable to Loews, controlled by New York's Tisch family, fell 57 percent to $116 million, or 30 cents per share, in the second quarter ... (more)
EU court halves Sasol's cartel fine
2014-07-14 12:36:47| Oil & Gas - Topix.net
Sasol's e318 million antitrust fine has been cut by more than half after judges said EU regulators had wrongly blamed the petrochemicals firm for the behaviour of a unit.
Tags: fine
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halves
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