The profit of Samsung with 30% decrease for the first quarter
The South Korean technology company Samsung reported a decline in profits from 30% in the first quarter a year earlier. The reasons for this state falls in the prices of memory cards and reduced the price in the manufacture of liquid crystal displays and televisions. The profit for the first three months was 2.78 trillion. won (2.59 billion dollars). Over the same period last year, the positive result was 3.99 trillion KRW. The sales of Samsung, however, increased by 6.8 per cent yoy to 36.99 trillion KRW. The South Korean company is the largest manufacturer of flat screen TVs, memory cards and LCD. Samsung holds second place for the manufacture of mobile phones after the Finnish company Nokia. In 2010, Samsung achieved record sales, the operating profit and net profit. For this year, the estimates are conservative because of increasing price competition in consumer electronics. The sales of mobile phones has dropped by 14 percent to 70 million units in the first quarter. Unit production of phones, however, reported improved profitability due to growing demand for smartphones and devices from a higher class as a whole. During the quarter share of smartphones in the total sales of phones reached 18 percent after the same period of last year was only 4 per cent.
Sony’s profit with slight decrease in the end of 2010
The largest Japanese manufacturer of consumer electronics Sony reported a slight decline in profit for the quarter, but managed to surpass market expectations thanks to good sales of compact cameras. The Sony's net profit decreased by 8.6 percent annually for the three months to the end of December to 72.3 billion Japanese yen (886 million dollars) compared with 79.2 billion yen a year ago. The market forecasts were for a smaller profit of 65.9 billion yen. The appreciation of the yen in 2010 is among the factors to reduce the positive financial result, with fierce competition in the market of consumer electronics with its Korean rivals. For better than expected financial results helped sales of cameras, mainly Series Cyber-Shot. From Sony plans to launch a Tablet PC and a new version of handheld video games for PlayStation Portable. The operating profit of Sony, or the difference between sales and cost of goods sold and administration decreased by 5.9% yoy to 137.5 billion yen. The revenue reported a slight decrease of 1.4% yoy to 2.21 trillion. yen. The shares of Sony rose 0.7 percent in today's session of the Tokyo Stock Exchange before the announcement of financial results. Last year, their price rose by 9.6 per cent, while that of Korean shares in Samsung Electronics, which is the largest television manufacturer in the world rose by 19 per cent.
EFG Eurobank with 61% profit decrease
The Greek bank EFG Eurobank announced its profits drop 61 percent in the second quarter on an annual basis. The main reason for this state increased provisions to cover bad loans, says Wall Street Journal. Earnings per second largest Greek bank's assets amounted to EUR 34 million after the second quarter of the year it was 88 million euros. Analysts estimates were for a profit of 31.9 million. The provisions for bad loans rose 21 percent to 346 million, the report shows. Expectations were for a more limited growth to 345.2 million. Net interest income Eurogank EFG for the second quarter fell by 4.9 percent annually to 561 million. Markets, however, expected that this indicator amounted to 568.6 million. In the first half year performance in Central and Eastern Europe is improving, it has achieved a profit of 12 million. For the first half of last year the region has brought loss of 26 million. Earlier this week, the other leading Greek banks also have announced their results. Piraeus has managed to achieve a profit of 3 million, while National Bank of Greece suffered a profit decline of 68 per cent.
Procter & Gamble with decrease of profits
The American company Procter & Gamble, which is one of the largest producers of consumer goods in the world, said its profit fell by one percent annually for the first quarter, although its sales volume grew by 7 per cent same period. The reason for this lies in the larger its advertising costs, announced Wall Street Journal. The net profits of Procter & Gamble for the three months to the end of March amounted to 2.59 billion dollars, or 83 cent a share, compared with a positive financial result of 2.61 billion USD or 84 cents a share, a year ago. After excluding one-off income and expenses, earnings per share for the first three months of this year amounted to 89 cents. Revenues for the manufacturer of consumer goods increased by 7% annually to 19.2 billion dollars. Organic sales, which exclude the effect of exchange rates and acquisitions, reported annual growth of 4 per cent. The company management expects that earnings per share for this year will rise to 3.62 to 3.68 dollars. Procter & Gamble reduced prices on many of its products and launched many new products to increase its sales volume last year.
Mazda with small decrease in the quarter
Significant improvement in its financial results reported Japanese automaker Mazda 2009-2010, the financial company is still losing, but its negative effect is strongly reduced and now stands at 6.5 billion yen (49 million) to 71.5 billion yen for 2008-2009. Furthermore, the manufacturer expects to come out of profits this year and generally viewed with optimism the future. For the period from April 2009 to March 2010 Mazda has failed to take account of operating profit of 9.5 billion yen (72 million) in operating loss of 28.4 billion yen a year earlier. However, its sales for the period fell by 14.7 percent to 2.16 trillion. yen (16.5 billion). Over the past 12 months Mazda contracted costs by 100 billion yen. "The efforts have enabled us to develop a cost structure that provides us with a profit, even if Japanese plants operating at 80% capacity utilization and despite currency fluctuations, the company stressed in a press statement. During the year the Group sold 1.193 million vehicles worldwide, up 5 percent less than the previous 12 months. Sales increased by 1% in the Japanese market thanks to the launch of the new Axela (which international markets sold as "Mazda 3). China does have a jump in sales by 46 percent due to the success of Mazda 6. Decline seen in North America (-12%) and Europe (-26%).
Qantas Airways with radical measurements after 72% profit decrease
One of the largest Australian airline Qantas Airways has announced that removes the first class in almost all its routes after taking into account the 72 percent decline in profits. The financial result was lower than even the most skeptical analysts' forecasts. The carrier's net profit for the six months to 31 December 2009 was 58 million Australian dollars (52 million U.S. dollars) in a positive financial result of 210 million Australian dollars a year earlier. The company attributed the profit decline on reduced demand from customers. So Qantas passengers will be able to fly first class only between Australia and London in Singapore, and between Australia and Los Angeles.
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