Glencore report 58% profit increase for the first half of 2011
One of the giants in the trade of raw materials - Glencore, reported strong profit growth for the first half of 2011. At its base stands the appreciation of most of the strategic raw materials this year. Glencore got a profit of 2.7 billion US dollars, an increase of 58 per cent over the comparable period last year. The industrial units of the company, which deals with investments in metals, energy commodities and agricultural products, has achieved increased profits by 54 percent. Only trade in energy profits have doubled, the company reported.
"In the first half of 2011 demand for raw materials continues, although there were quite negative events", said the CEO of Glencore Ivan Glasenbarg, pointing to instability in the Middle East, the earthquake in Japan and the debt crisis in Europe. Last year, Glencore made a profit of 3.8 billion US dollars in revenues of 145 billion US dollars. The company is the largest trade in raw materials in the world, and this year debuted on the stock exchange in London.
Half-year profit of Barclays decreased with 30%
The British bank Barclays announced that its profit before tax for the first 6 months of the year was 2.6 billion pounds, which is 33% less than the same period of 2010. However, it includes a fee of £ 1 billion to settle claims for lost sales of insurance protection contributions. The bank also indicated that revenue from its investments in bonds and commodities fell. Most of the profits of the credit institution comes from its unit investment banking Barclays Capital, which includes part of the former U.S. bank Lehman Brothers, but even there profit decreased by 9% annually to 2.3 billion pounds. Despite reduced earnings chief executive of Barclays, Bob Diamond said he was pleased with the results in this economic environment, defined by him as "gray". He claimed that the bank has implemented and its agreement with the government to lend British businesses.
"We have delivered on their commitments under the Merlin and increased by 20 billion pounds of new lending business in the first half of the year", said Diamond. This figure also includes loans amounting to 7 billion pounds for small and medium businesses.
Lloyds with 3.25 billion GBP loses for the half year
Compensation to consumers, which had been held at the conclusion of insurance brought losses of 3.25 billion pounds to Lloyds for the first half of the year, but the British bank confirmed its forecast for the year. If we exclude the funds allocated for compensation obligations, the bank's adjusted profit before tax was 1.1 billion pounds, up over 30% less than the profit last year of 1.6 billion pounds. The average grade of economists polled by Reuters was for earnings of 1.1 billion pounds.
"Our forecast for the disclosure of our strategic review of the June 30, 2011 remains unchanged", said a statement from the bank. "We continue to closely monitor economic conditions, particularly in the UK and Euro area", said still there. By Lloyds, which the British government holds a share of 41% after it granted bail, said they have reduced the cost of bad loans by 17% to 5.4 billion pounds, though its subsidiary Wealth & International Report losses of 2.1 billion pounds, mainly because of rising costs in Ireland.
SABIC reported 61% profit increase for the half
The financial crisis and the high crude oil prices reflected to the companies in the oil business and many of them made high profits from the changes on the markets. The Saudi petrochemical giant SABIC announced profit for first half year amounted to 2.16 billion dollars, announced AFP. This is an increase of 61 per cent over the same period of 2010. In a message SABIC, and Saudi Basic Indusries Corp, indicating that the profit of the Group has reached 8.1 billion rials (2.16 billion dollars) in the first half. The company explains its success with increased yield and improved world market prices.
SABIC, which makes fertilizer, methanol and plastics, is the largest public company on the stock exchange in the Gulf and one of the world leaders in the petrochemical sector. Really the good business management and high quality production and contracts made the increase of the company financial report.
Vivacom with 17% profit increase for the first half of 2011
Vivacom reported 34 percent growth in mobile subscribers in the first half of 2011 over the same period of 2010, the company said in a press release. With more than 125% and has increased mobile Internet users in the first six months of the year financial results of the telecom, published today. Vivacom strategy to provide maximum service, unlimited Internet access in all its packages and complete freedom of consumer choice continues to work for the company, which increased its market share in the mobile sector by 2%. The operator still ranks second in the country of revenue and customers. The increase in all segments of the mobile business Vivacom reflects revenue from mobile services that support robust growth of 17% to 171.4 million for the first six months of 2011 compared to the same period last year. The company's financial results show a decline in fixed telephony revenues by 14% over the same period. Serious revenue growth of mobile telephony, which largely offset the decline in traffic of fixed phones, remain in force during the first half of 2011, leading to a reduction in revenues from telecom services to only 3% for the six months compared to the same period last year. Vivacom obtain official recognition that it has the best coverage of 3G network in Bulgaria - 94% of the population, with the goal at the end of the year its coverage to reach 98% of the population and 87% of the country, and speed to increased almost 4 times.
Gazprom increased the profit with 39% for the 9 months of 2010
The net profit of Russian gas giant Gazprom for the 9 months of 2010 grew 39.5 percent year on year to 668.75 billion rubles (over 22.8 billion dollars). This according to a study published today condensed consolidated financial results of Gazprom in international (European) accounting standards, and the results are not audited. Over the same period the revenue from sales of Gazprom (with deduction of excise duty, VAT and customs duties) increased by 16% compared with the first nine months of 2009 amounted to over 2.507 trillion. rubles (more than 85.26 billion dollars). In the case of inefficient operation of government Gazprom may take a monopoly on gas transmission system in the country, Prime Minister of Russia Vladimir Putin. In his words, "if you (Gazprom) do not start to work effectively, we will be forced to go to modify the existing rules. According to Putin's problem is that there is shortage of transmission capacity, "and we (the state in the face of Gazprom) do not allow anyone to this area.
"You have to react accordingly and invest resources in infrastructure development, underlines Putin, addressing the management of Gazprom.
Nestle with 7.5% profit increase for the 1st half of 2010
The largest company in food production - Swiss Nestle, announced profit growth of 7.5 per cent in the first half on an annual basis. This allowed managers to confirm its forecasts for full year 2010, although at its end is expected expense growth. The еarnings Nestle is 5.45 billion Swiss francs, after the same period last year profit was 5.07 billion francs. The sales did increase by 5.9 percent to 55.34 billion francs. The expectations of analysts was for a slightly lower profit - 5.25 billion francs, but more revenue - 55.43 billion francs. The Chief executive of Nestle Paul Bride, the company faces "more challenges in the second quarter, as the main reason is the increase in the price of wheat, cocoa and other key food production inputs. Despite of the positive report and the preservation of the underlying full-year targets, shares of Nestle decreased by 0.2 per cent of the stock exchange in Switzerland. This happened against a background of decline in the basic index by 2 per cent. The company reinvested large Unsecured Loans in marketing strategy in Eastern Europe and Asia and also in innovating the producing lines. This investment should be repaid in term of 5 years, according to business management.
Net profit of Lukoil jumped with 24% for the half year to 4 billion USD
The net profit of Russian oil company Lukoil jumped by almost 24% for the period January-June 2010 yoy to $ 4 billion, according to U.S. accounting standard. This shows basic data published by the consolidated revenue and expenditure of Lukoil. Only second-quarter profit of Lukoil 1,95 billion dollars. Lukoil revenues for August amounted to 49.76 billion dollars, an increase of 42% annually. For the first half the company Lukoil has charged taxes 14.8 billion, of which 1.1 billion dollars tax. The average cost of production during the period increased by 23% yoy to $ 4 per barrel of oil equivalent, which is determined mainly by the increase in cost of wages, increased energy costs and increasing the rate of the ruble, says report Lukoil. Capital costs of Lukoil for the reporting period amounted to 3.2 billion dollars, an increase of almost 5% yoy. The cost for geological exploration work for the period have doubled year on year to 146 million dollars. The extraction of oil from Lukoil for the first half is over 48 million tons of processing volumes of oil in their refineries Lukoil for the period grew by over 8% to 32.4 million tons, in particular, the increase of the processed oil LUKOIL refineries in Russia is 1.5%, while those outside the country is 26%.
Carrefour with 82 million USD profit for the half year
The French retail chain retail Carrefour has issued a profit in the first half of 2010. This is mainly due to the good performance of emerging markets, which offsets the negative effects seen in Western Europe. Of Carrefour profit was 82 million after the first six months of last year was reported a loss of 58 million. Do sales increased by 5.9 percent to 48.9 billion EUR, reported Wall Street Journal. Operating profit for the first half was 1.1 billion following last year were achieved 1.02 billion. Preliminary expectations were for an operating profit of 1.05 billion. This allows the company, which is the second largest chain of retail sales in the world after the American Wal-Mart, to confirm its forecasts for operating profit in 2010. It is a positive result of 3.1 billion. Over the last six months of Carrefour shares have increased by 1,5 per cent of the exchange in Paris. This presentation is much better than the presentation of the overall market as the main CAC 40 index lost 7.5 per cent for the period.
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