PM calls for policy on food processingOctober 6th, 2009 NEW DELHI - Prime Minister Manmohan Singh Tuesday called for a national food processing policy for the rapid growth of the sector. "The policy to be effective will have to be comprehensive and adopt a number of legislative, administrative and promotional measures," the prime minister said while inaugurating the first conference of state ministers of food processing industries here.
ConAgra Foods 1st-qtr profit falls as year-ago benefits from commodity trading business saleSeptember 22nd, 2009 ConAgra Foods 1Q profit drops 63 percentOMAHA, Neb. — ConAgra Foods says its fiscal first-quarter profit dropped 63 percent as the prior year saw a large gain from the sale of its commodity trading business, but adjusted results beat analysts' estimates.
L&T to wait for opportune time to sell Satyam stakeAugust 12th, 2009 NEW DELHI - Engineering and construction major Larsen and Toubro Wednesday said it would wait for an opportune time to sell its holding in Satyam Mahindra, formerly Satyam Computer Services, even if the markets regulator waives the lock-in period on the shares. The lock-in period had been fixed because of a competitive bidding process for a controlling stake in the scam-hit IT major.
Select Comfort July same-store sales increase 1 percent partly on store closingsAugust 11th, 2009 Select Comfort July same-store sales edge up 1 pctMINNEAPOLIS — Bed retailer Select Comfort Corp. said Tuesday that its same-store sales edged up 1 percent in July, partly helped by the closing of more than 50 stores.
Reinsurer Munich Re's Q2 profit jumps nearly 14 percent to euro691 millionAugust 4th, 2009 Reinsurer Munich Re's Q2 profit up 14 pctFRANKFURT — German reinsurer Munich Re AG said Tuesday its second-quarter net profit rose nearly 14 percent on solid growth in premiums, better investment returns and a one-off gain from the sale of a stake in British insurer Admiral Group PLC. The Munich-based reinsurer earned euro691 million ($1 billion) in the April-June period compared with euro606 million a year earlier.
Reliance Capital net profit down 55 percentJuly 31st, 2009 MUMBAI - The Anil Ambani-led Reliance Capital Friday reported a 55.6 percent fall in net profit to Rs.153.29 crore ($33 million) for the quarter ended June 30 as against Rs.345.3 crore in the like period last year. The company's total income for the first quarter stood at Rs.1,468.12 crore ($316 million), down 3.05 percent from Rs.1,514.40 crore in the corresponding quarter the previous fiscal.
Hindustan Unilever net profit dips 2.68 percentJuly 28th, 2009 MUMBAI - Net profits of fast moving consumer goods (FMCG) giant Hindustan Unilever dipped 2.68 percent to Rs.5,431.9 crore in the first quarter this fiscal from Rs.5,581.8 crore in the same period a year ago. The total income of the company increased 7.5 percent to Rs.44,758.8 crore in the first quarter of current fiscal from Rs.41,628.4 crore in the year-ago period.
Fifth Third reports 2Q profit on sale of controlling stake in processing business, shares soarJuly 23rd, 2009 Fifth Third posts 2Q profit on unit sale gainCINCINNATI — Fifth Third Bancorp posted a profit for the second quarter, thanks to a $1.1 billion gain from the sale of controlling interest in its processing business. The regional bank would have had a loss without the gain but not as much as analysts expected.
Charlotte Russe profit slips on charges related to putting itself up for sale, mgmt transitionJuly 21st, 2009 Charlotte Russe 3Q profit slips on chargesSAN DIEGO — Teen clothing chain Charlotte Russe Holding Inc. said Tuesday its fiscal third-quarter profit fell 5 percent, as some one-time charges offset improving sales.
Citigroup records profit, breaking six quarter slumpJuly 17th, 2009 NEW YORK - The sale of its controlling stake in a brokerage helped Citigroup Friday to surprise analysts and announce $4.3 billion of net income in the second quarter of 2009, after six quarters of falling ever further into the red. However, the fact that the entire uptick into positive numbers was due to its decision to merge the Smith Barney brokerage into a joint venture to be controlled by Morgan Stanley, created questions as to whether the company could continue to earn profits in the near term.
Larsen and Toubro net profit triples on Ultra Tech Cement saleJuly 16th, 2009 MUMBAI - India's largest engineering and construction major Larsen and Toubro Thursday reported a 218-percent increase in net profits for the quarter ended June 30, thanks mainly to the sale of its long term investment in Ultra Tech Cement. The company said its net profit tripled to Rs.1,598.2 crore for the first quarter of this fiscal from Rs.502.44 crore during the like period of last fiscal.
HMV reports 50 pct drop in full year net profit, but continuing operations see 18.5 pct gainJune 30th, 2009 HMV full year profits fall by halfLONDON — Music and books retailer HMV Group PLC said Tuesday that its full-year profit fell by half compared to a year ago, when the bottom line was fattened by the sale of operations in Japan. Net profit for the year ending April 25 was 44.2 million pounds ($73.9 million), compared to 89 million pounds in the previous year.
Greece says it will sell Deutsche Telekom another 5 percent in OTE for euro674 millionJune 18th, 2009 Greece to sell Deutsche Telekom more shares in OTEATHENS, Greece — The Greek government said Thursday it will sell a further 5 percent stake in telecom operator OTE to Deutsche Telekom AG for euro674 million ($933 million). An Economy Ministry statement said the government was exercising its option to sell the stake to the German company at the pre-agreed price of euro27.5 ($38) per share, under the terms of last year's deal on sharing OTE ownership and management control.
News Corp. 3rd-quarter net up 1 percent on NDS sale, tax gainsMay 9th, 2009 News Corp. 3Q net profit up 1 percentLOS ANGELES — Media conglomerate News Corp. says its third-quarter profit grew 1 percent to $2.72 billion.
L&T profit jumps 215 percentJanuary 29th, 2009 NEW DELHI - Construction and engineering giant Larsen and Toubro (L&T) posted a 215.5 percent jump in its quarterly profit, primarily riding on the income from the sale of its ready-mix concrete (RMC) business. The company filed a net profit of Rs.15.2 billion (Rs.1,520.44 crore/$338.75 million) for the third quarter of 2008-09, as against Rs.4.81 billion during the same period last fiscal.
Loading ...