Profit at China's major state companies down 30 percent last yearSeptember 20th, 2009 China: Profit at state companies down last yearBEIJING — Profit at China's top state-owned companies fell 30 percent last year, hurt by the global financial crisis, but assets have increased. The 141 banks, airlines, oil producers and other companies controlled by the central government reported net profit of 696.18 billion yuan ($102 billion) last year, down 30.8 percent from the previous year, the official Xinhua News Agency said Sunday.
China's offshore oil company CNOOC says 1H profit down 55 percent on lower oil pricesAugust 26th, 2009 CNOOC says 1H profit down 55 pct on lower pricesSHANGHAI — CNOOC Ltd., China's third-largest oil and gas producer, said Wednesday its first-half profit sank 55 percent on sharply lower oil prices but it forecast better results as the economy recovers. Profit fell to 12.4 billion yuan ($1.8 billion), or 0.28 yuan per share, compared with 27.5 billion yuan in the first half of 2008, the Beijing-based company said.
Sportswear maker Adidas' 2nd-quarter net profit falls 93 percent to euro9 millionAugust 5th, 2009 Adidas Q2 net profit falls 93 percentFRANKFURT — Sportswear company Adidas AG said Wednesday that its second-quarter net profit fell 93 percent as currency effects and tough competition weighed on earnings. The Herzogenaurach, Germany-based company said net profit in the April-June period dropped to €9 million ($13 million) from €116 million in the second quarter of 2008, as sales dipped 3 percent to €2.46 billion from €2.52 billion.
Retail, luxury group PPR 1st half profit down 76 pct on lower demand at Conforama, FNAC chainsJuly 31st, 2009 PPR H1 net income fallsPARIS — Retail and luxury group PPR SA on Friday reported a 76 percent drop in earnings for the first half after sales fell at its Conforama furniture stores, FNAC books-to-electronics chain and its Redcats catalog unit. PPR, owner of the Yves Saint Laurent and Gucci brands, said net profit in the six months through June dropped to euro189 million ($265.6 million) from euro777 a year earlier, when it made a capital gain on the sale of YSL Beaute cosmetics unit.
Anglo American H1 profit down 31 percent as revenue slumps amid recessionJuly 31st, 2009 Anglo American H1 profit down 31 percentLONDON — Mining company Anglo American PLC said Friday that net profit in the first half of the year fell by 31 percent as both the prices and volumes of its sales slumped amid the global recession. The company said net profit for the period was $2.97 billion, compared to $4.28 billion a year earlier.
France Telecom first half profit falls 4.3 percent and company sees lower business in H1July 30th, 2009 France Telecom H1 profit down 4.3 percentPARIS — Telecommunications company France Telecom said Thursday that first half net profit fell 4.3 percent as the economic crisis caused customers cut back on phone calls and data transfers — and warned that conditions will get tougher in the second half. The company, whose largest shareholder is the French state, reported net profit of euro2.56 billion ($3.60 billion) in the six months through June compared with euro2.67 billion in the first half of 2008.
Cigna 2nd-qtr profit rises 60 percent on more favorable interest rates, company raises outlookJuly 30th, 2009 Cigna profit climbs on better interest ratesNEW YORK — Health insurer Cigna Corp. said Thursday its second-quarter profit jumped 60 percent due to a benefit from more favorable interest rates and other items.
Publisher Wolters Kluwer profit falls 8 percent to euro132 million in H1July 29th, 2009 Wolters Kluwer profit falls 8 percent in H1AMSTERDAM — Wolters Kluwer NV, a major publisher of medical, legal and accounting journals, reported an 8 percent fall in net profit in the first half of 2009, due to higher operating costs and write-downs on the value of its publishing rights. Net profit was euro132 million ($187 million), down from euro144 million in the same period a year earlier.
China's central bank says inflation might revive, promises to keep policy stableJuly 28th, 2009 China says inflation might revive in second halfBEIJING — Inflation in China might pick up in the second half of the year after a five-month decline in prices, the central bank said Tuesday. Economists have warned that Beijing's massive stimulus spending might ignite a rise in politically sensitive consumer inflation.
Air China forecasts 50 percent first-half profit rise, rebounding from 2008 lossJuly 15th, 2009 Air China forecasts 50 percent profit riseBEIJING — Air China Ltd., one of China's three major state-owned carriers, said Wednesday it expects first-half profits to rise at least 50 percent from a year earlier as it recovers from a huge 2008 loss. The Beijing-based airline said its first-half 2008 profit was 1.3 billion yuan under Chinese accounting standards, which would make its profit from January to June this year at least 1.9 billion yuan ($284 million).
US cuts fewer jobs in May, a sign recession is easingJune 5th, 2009 WASHINGTON - US companies shed only 345,000 jobs in May, the smallest drop in eight months and a sign that the US recession may be easing, but the unemployment rate still jumped half a percentage point to 9.4 percent, the Labour Department reported Friday. The US has now lost six million jobs since a deep recession began in December 2007, but the monthly data was far better than economists had predicted.
Hospitality industry profit falls 64 percent: AssochamJune 4th, 2009 NEW DELHI - India's hospitality sector has witnessed a fall of 64 percent in profit in the January-March quarter this year, thanks to the economic slowdown, an industry lobby report said here Thursday. "While on the one hand the inflow of foreign tourists came down sharply and the room rates contracted, on the other hand there was a rise in expenses," the report by the Associated Chamber of Commerce and Industry (Assocham) said.
Mahindra net down 22.2 percentMay 28th, 2009 NEW DELHI - Auto major Mahindra and Mahindra (M&M) Thursday reported a 22.2 percent decline in its net profit for 2008-09 at Rs.858.7 crore, down from Rs.1,103.3 crore reported the year before. This is despite a 14.5 percent jump in the company's annual turnover to Rs.13,364.02 crore last fiscal from Rs.11,671.6 crore in 2007-08, the company said in a regulatory statement.
Chinese government says profit at top state companies drops 42 percent in first quarterApril 25th, 2009 Profit at top Chinese state firms down 42 percentBEIJING — Total profit at China's top state-owned companies fell 42 percent in the first quarter but the rate of decline slowed due to government stimulus spending, a state news agency said Saturday. Profit for the 138 companies controlled by the central government was 119.5 billion yuan ($17.4 billion) for the three months ending March 31, the Xinhua News Agency said, citing the state-owned Assets Supervision and Administration Commission.
ONGC net profit dips 43.3 percent in third quarterJanuary 27th, 2009 NEW DELHI - State-run upstream major Oil and Natural Gas Corp Wednesday reported 43.3 percent dip in its net profit for the quarter ended Dec 31, owing to low crude prices. The company's net profit for the third quarter fell to Rs.24.75 billion (Rs.2,475 crore/$506 million) from Rs.43.7 billion a year ago.
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