IKEA reported strong profit increase
The Swedish company IKEA, which is the largest retailer of furniture in the world, today announced record profit for the financial year 2010-2011, based on sales growth and greater share of almost all markets. The net profit grew by 10.3 percent to 2.97 billion for the fiscal year ended in late August 2011 revenues were up 6.9 percent to 25.17 billion.
"We have won market share in greater or lesser extent in all markets", said the CEO of IKEA Mikael Olsson. "Despite the price increases for many materials, lowered prices for our customers by 2.6%, although the quality of our products are improved", he added. The vice President of the company's Soren Hansen did announced that sales have increased in almost all countries, growth was highest in Russia, China and Poland. In fiscal 2009-2010, the net profit was increased by 6% to 2.69 billion euros, while revenue had increased by 8% to a record 23.5 billion. This year IKEA plans to invest 3 billion euros in their shops, factories and centers for retail, as well as transducers of energy from wind and sun. In the last financial year it opened seven stores in 12 countries in 2009-2010. At the end of August 2011 the company has 287 stores in 26 countries and 131,000 employees. The chain is represented in Bulgaria through the open shop in December in Sofia.
Intel reported high revenue increase in 2011
The largest chipmaker in the world - the U.S. company Intel, announced 6% profit growth in the fourth quarter of 2011. The results of the company surpassed analysts' expectations despite the difficult challenges that floods in Thailand set to produce computers. For the fourth quarter 2011 profit of Intel amounted to 3.36 billion USD, or 64 cents a share. A year earlier, the positive result was 3.18 billion USD, or 56 cents a share. With the exclusion of certain one-off effects related to acquisitions, the profits of Intel e 68 cents, well above analysts' expectations for 61 cents a share.
The revenues of the giant rose 21 percent annually over the period to 13.9 billion USD, as expectations were for 13.7 billion USD. For all of 2011 Intel achieved revenue growth of 24% annually, for the first time in history the company has crossed the 50 billion USD. For the exclusion of results from the acquisition of McAfee and division of Infineon for the production of chips for mobile phones Intel revenue would increase by 15% over 2010. The estimates for the first quarter of 2012 are that it will achieve revenue of between 12.3 and 13.3 billion USD.
Fast loans industry with high increase
The financial institutions of fast loans and payday loans really have high increase of their market stake. The companies provided more than 75% more credits in 2011 in comparison with the previous year. The fast loans industry is gaining speed because of the main advantages of fast approval, easier application and low APR. The cash advance online is popular is many customers, who are in need of small amount of money for their daily expenses. The application for such loans is easier and really can be done during all the day via internet or via phone, so you do not need to leave work for a few hours for application, meetings and to provide a lot of documents for your wage and real estates. Such conditions are highly attractive for the customers, who are getting more and more loans from the companies. The industry reported highly increase of the loans applications during the Christmas Holidays, which were the basic way to financing the expenses around the holidays. The average increase of the loan amount is about 72%, which the increase the the applications forms number is about 65% in comparison with the same period previous year. Definitely the fast loans and payday loans industry is increasing the getting more and more popularity among the customers, who are slowly giving up from the standard bank loans and operations, which cost a lot of time and nervous.
SV Ads Ltd reported 17.7% profit growth for 2011
The advertising agency SV Ads Ltd reported high increase of the sales and the profit for the year 2011. The company increased the value of the sales and got 17.7% higher profits with decreases in the business management and decreases in the budget. The company started new projects, which are still in process of building and did not generated new incomes, but due to the stability in the deals for advertising spaces sales, SV Ads Ltd kept the increased revenue.
However during the last quarter, the company reported 11,0% decrease in the profits, in comparison with the same period last year. Anyway SV Ads made the strongest quarter ever in the period April-June 2011 with high ad sales and a lot of new clients attracted by the good and very reasonable ads places. The positions, which now the company has are with 205% more than the previous year, which is great symbol for stability in the company report. SV Ads Ltd has pretty stable increase in the sales and the profits in the last years.
Adidas increased its forecasts for the annual report
Adidas increased its forecast for profit in 2011, having announced strong second-quarter data. The net profit for the quarter increased by 11% compared to same period the previous year to 140 million EUR. The company provides a record profit for the year, even though it will not hold the Olympic Games or World Cup. Adidas forecast earnings per share between 3.10 and 3.12 EUR after the previous forecast was for 2.98 EUR per share. Last year, earnings per share was 2.71 EUR.
"The high exposure to fast growing emerging markets, further expansion of retail trade and the continuing momentum in all key brands will represent more than compensate for the lack of repeat sales associated with the World Cup in 2010", announced by Adidas. The large companies, sports bags to perform better in years in which there are contests at the international level. The sales were particularly strong in China, which registered growth was 41% excluding the impact of exchange rates.
London Sweep Ltd reported profit increase
The company London Sweep Ltd is situated in the city of London, UK founded in 1997. The company is a private company categorized under Cleaning Services, offering high quality services in the city of United Kingdom. The company reported increase of the net profit with more than 31% for the year 2010. The company London Sweep Ltd has 261,000 USD yearly sales and more than 118,000 USD yearly net profit after tax. The company increased the sales with 20%, but the decreased management expenses and the reduces in the employees, the management reported positive financial results for the year 2010. The main rival in the London cleaning is end of tenancy cleaning, which is leading in London company specilized in providing spring, carpet, tenancy and deep cleaning services. The company definitely is the leading house cleaners london and this year also surprised with good financial results. Definitely the increase in the sales of the companies middle and small business, are showing that the recession is far away and the economy of the United Kingdom is in process of increase.
Siemens increased the forecasts for annual profit
In the view of increased business and billions of sales revenue Siemens significantly increase its forecast for annual profit. For 2011, the Group expects to account for a profit of at least 7.5 billion EUR, says the company's press release. This is consistent with growth targets three quarters last year. Until now, Siemens expected annual profit of more than 5.5 billion, recalls Handelsblatt. The new forecast excludes the results of rotor losses and subsequently sold IT Division SIS, and subsidiary of lamps Osram, which should become public in the autumn. The sale of the SIS is already reflected on the last sheet of Siemens. Because in the last quarter the Group wrote off 464 million EUR before tax. For the first quarter, Siemens reported a profit of almost 3.2 billion, which is twice the previous period. The difference is due almost exclusively to the sale of shares in the manufacturer of reactors Areva, which increased profit by 1.5 billion EUR. To these are added 100 million EUR by selling shares in Simens manufacturer of tanks KMW.
The revenues from sales in the second quarter of fiscal year for the company (which ends in late September) increased by seven percent to 17.7 billion. Was particularly strong performance of the industrial equipment and technologies for energy.
Huawei reported 30% profit increase in 2010
The Chinese company Huawei, which is one of the largest manufacturers of telecommunications equipment worldwide, announced profit growth of 30% for 2010. The main contribution to improvements resulting played strong sales of the company outside the Chinese market. The report of the company shows a profit of 23.76 billion yuan (3.64 billion dollars) after the 2009 positive result was 18.27 billion yuan, or about 30% less. The main profit growth came from increased sales to countries in North America and former Soviet republics. Overall growth in sales abroad amounted to 34%, the total value for 2010 is 120.4 billion yuan. By Huawei indicate that prospects for company performance in the U.S. market remain quite unclear. Among the reasons for this is the refusal of the authorities in the country to enable Huawei to acquire Company 3Leaf Systems.
"Huawei will likely stand out as a company with the fastest rate of sales growth in the sector," said analyst Ren Wenyi of First Capital Securities Reuters. According to him, over the next three to five years, the company will continue to grow, increasing their market share significantly in Europe and the USA. An interesting detail of the data published today is the record of the board of directors of the company, which has so far been kept secret. It shows that the founder is Shanfey Rehn, a former serviceman and who started the business with only about 3200 dollars capital.
Bank of France profit increased to 2.56 billion EUR
From the Bank of France reported today that the net profit for 2010 rose by 86 million to 2.56 billion EUR. Finally was decided that, the bank will pay 1.56 billion dividend to the state. The central bank explained that the revenues were supported by growth in the volume of investment, after the amount of euros in circulation has increased. Revenues also increased due to the rising income from the long-term investments that are part of the response to the eurozone financial crisis. The impact of international currency markets has been modest, since the average value of the euro has dropped to 1.33 dollars in 2010 from 1.39 dollars in 2009.
The bank is having special management program to decrease the outcomes and spendings over the wages and bonuses, but together with this realized good loan policy. The bad loans of the bank decreased with more than 55% and the risk management is stabilizing the financial conditions of the institution. Also as it was mentioned before the bank has good long-term investments, which repaid and were successful.
Alpha Bank reported large profit decrease for 2010
The Greek Financial Group - Alpha Bank reported a sharp drop in profits last year after the deepening economic crisis in the country affected the growth of bank lending and increase reserves to cover problem loans. The third largest Greek lender has realized a net profit of 85.6 million for 2010 compared with a positive financial result of 349.8 million for 2009, writes Financial Times. The profit decreased sharply by 75.5 per cent, which contributes one-time tax of 61.8 million imposed by the government to curb the budget deficit. The Greek government, the country's international creditors, the European Commission and the International Monetary Fund (IMF) urged banks in Greece to unite to strengthen investor confidence to them and reduce their dependence on funding from the European Central Bank. The management of Alpha Bank, however, are adamant that merger talks with its larger rival National Bank of Greece have ended without success and will not be renewed. According to Alpha Bank was too risky to negotiate a merger at this stage because of the unstable economic environment. From Alpha Bank has indicated it will focus on reducing the cost and level of indebtedness to increase their liquidity. The provisions of the Bank's bad loans rose to a record 2.2 billion last year. Problem loans increased by 40% in 2010 amid debt crisis in the country. Their share of total loans reached 8.2 percent in the fourth quarter of last year compared with 5.7 percent a year earlier.
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