The profit of Procter & Gamble decreased
The household and healthcare products manufacturer Procter & Gamble announced 28% drop in profit for the last quarter of 2010 after being hit by weak sales in developed markets like the U.S. The same was injured and smaller rival company Colgate-Palmolive, despite policy to run promotions and coupons with which to attract buyers who avoid expensive brands because of the crisis. Both companies marketed new products such as Procter & Gamble offers cheaper versions of some of its most popular products, while Colgate offers a variety of new toothpastes. Procter & Gamble reported higher demand for products with lower prices, which exert pressure on the company's revenue. As a result, the company net profit decreased to 3.33 billion dollars or 1.11 dollars per share, during the second fiscal quarter ended in December. A year ago, profit was the amount of 4.66 billion dollars or 1.49 dollars per share. Much of the difference is due to the extra revenue the company a year ago from the sale of its business with pharmaceutical products. After excluding one-off income and expenses, earnings per share for the last three months of 2010 was 1.13 dollars. The average estimate of analysts was for earnings of 1.10 dollars. The sales of Procter & Gamble rose 2% yoy in issue quarter to 21.3 billion dollars, taking into account the 6% growth in volume of physical sales.
The net profit of Ford dropped with 79% in the end of 2010
The second largest American car company - Ford Motor, reported a strong 79-percent drop in profit in the fourth quarter, due to the unexpected loss of its operations in Europe, as well as increased costs for developing new models and their advertising. The Ford's net profit decreased to 190 million dollars, or 5 cents per share of 886 million dollars, or 25 cents a share, a year ago. After excluding the one-off income and expenses net profit was 30 cents a share, which does not meet the projections for earnings of 48 cents. The European operations of Ford Motor recorded a loss of 51 million dollars, contrary to expectations the company to 253 million dollars profit a year earlier. The sales of the automotive company in Europe shrank by 23% yoy in December after other manufacturers offered customers various discounts. The European market was "extremely competitive in the fourth quarter," said Chief Financial Officer Lewis Booth, Ford told reporters in Dearborn, where the company. The shares of Ford fell almost 10% to 16.99 dollars per share on the New York Stock Exchange after the announcement of financial results. In 2010, their price rose strongly by 68 per cent.
IBM with profitable financial report
The financial results of the largest supplier of computer services in the world IBM for the last three months of 2010, together with the manufacturer of the iPhone and iPad - Apple, highlighted the recovery of investment companies in the technology and equipment. The net profit and the sales of IBM in the fourth quarter of 2010 proved to be stronger than market expectations, driven by demand for computer systems and software. Meanwhile, Apple announced that more than 80 of the 100 largest companies in the world already use the Tablet PC iPad, which contributes to record sales of the company at the end of 2010. The IBM's net profit in the last quarter of 2010 increased by 9% annually to 5.3 billion dollars or 4.18 dollars per share. In the last quarter of 2010, companies have increased their expenditure on equipment and technologies that portend good financial results and other technology giants like Hewlett-Packard, Microsoft and Dell, whose quarterly reports come out in the coming weeks. Last week, the largest chipmaker in the world, Intel announced record revenues and profits for the last quarter of 2010 and a record year in its history. Intel's financial results also showed that the company's sales increased by 6.6% yoy to $ 29 billion in the last quarter of 2010, which also topped market forecasts. Apple in turn has announced 71 percent jump in sales to 26.7 billion dollars for the same period.
Net profit of RosAtom jumped with 50% for 2010
The net profit of Russian state power corporation Rosatom last in 2010 according to preliminary data grew by 50 percent to 60 billion rubles (nearly $ 2 billion). This is explained Rosatom chief Sergei Kiriyenko in conversation yesterday with Russian President Dmitry Medvedev said in a release Rosatom. Kiriyenko has informed the President that the overall portfolio of contracts with Rosatom in 2010 has jumped more than 4 times to over 20 billion dollars. Rosatom is the ambition of the 2011 orders to rise to at least $ 30 billion. In the words of Sergei Kiriyenko most important part of these contracts are contracts for the construction of nuclear plants. Rosatom has contracts to build in Russia's 28 nuclear reactors, currently 9 of them are already built and one was put into operation in November last year. Moreover, there is a "high degree of readiness for construction abroad of 30 more nuclear power units. "Key" countries that Rosatom will build the reactors are India, Vietnam and Turkey. Rosatom chief noted that the contract with Turkey, signed in 2010, is unique as a model of ownership, since Russia (in the face of Rosatom), will hold a nuclear power plant in another country. Kiriyenko added that "we (Rosatom) have entered into Turkey for 100 years, given the construction of nuclear power plant running time of 60-70 years and the supply of nuclear fuel.
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%.
Unilever with about 40% growing of the quarterly profit
The net profit of Unilever NV for the second quarter increased by 39 percent annually to 1.15 billion, exceeding analysts' forecasts rather. Revenues from sales of the Dutch manufacturer of consumer goods increased by 12.4 percent to 11.75 billion. The largest share of which are products body care (over 30%), while that of ice cream and beverages is nearly 23%. Analysts interviewed by Thomson Reuters expected profit of 1 billion euros and sales of 10.22 billion. Among the products are teas Unilever Lipton, soap Dove, Rexona deodorants and ice cream Ben & Jerry's. Company trying to boost sales and gain a greater market share in the fight against major rivals Procter & Gamble Co. and Nestle SA by reducing prices. "The results reflect continued investment in our brands, imposition of new markets, successful innovation and better realization of goods," said CEO Paul Poulman Unilever. He expects weak economic growth, particularly in Europe and North America and boost competition. This means that the company will face difficulties in raising their prices even if the expected growth in commodity prices in the second half of the year.
Swiss Re released on profit
The second-largest reinsurance company Swiss Reinsurance in the world out of profits in the second quarter because of the smaller write-offs for capital investments. Net profit of Swiss insurer amounted to 812 million dollars for the three months to June last year after he was at a loss of 342 million dollars. The results of the Zurich-based company surpassed analysts expected profit of 422.2 million dollars. The earnings per unit asset management increased by 160 percent annually in consideration quarter to 1.23 billion dollars, the overall return on investment is 13.2%. At the same time profit from property insurance, life and accident decreases. The company offered the cheap life insurance and increased its market stake. The insurance company Swiss Re back 2 billion Swiss francs of Warren Buffett last year after receiving a capital money injection of nearly 3 billion francs of his company Berkshire Hathaway. This is necessary because of the colossal losses and write-offs of the reinsurance company of 8.3 billion dollars in 2008. Shares of Swiss Re dropped by just over 2 percent in today's session of the stock exchange in Zurich, which lowers the company's market capitalization to 17.8 billion francs.
Credit Suisse with higher profit than expected
The second largest bank in Switzerland, Credit Suisse announced better than expected second-quarter profit after financial giant won on its debt and obtain a loans. Net profit of the bank increased by 1.4 percent annually to 1.59 billion Swiss francs (1.5 billion dollars) in the second quarter to 1.57 billion francs a year ago. This was well above market analysts expected 1.23 billion francs profit. Revenues of Credit Suisse from trading securities fell by 27% in the quarter because the volatility of financial markets caused the debt crisis in Europe. It is negatively affected and the financial performance of U.S. banking giants Goldman Sachs and Citigroup. According to the management of Credit Suisse economic and market situation currently remains uncertain and challenging. Credit Suisse has received a tax credit of 522 million francs and a profit of 922 million francs for its debt in the second quarter, which offset the additional costs for its bank tax, which was introduced in Britain.
Rosneft increased with 19% the net profit for the quarter
The Russian Rosneft state oil company, which is the largest in Russia in the industry, increased its net profit for the first quarter on an annual basis by 19.4 percent to nearly 2.45 billion dollars, said in a statement. Estimates are under U.S. accounting standard. Rosneft is one of three Russian companies, which generally have 51 percent share of the project pipeline Burgas-Alexandroupolis. Gross profit of Rosneft (before payment of income tax, depreciation and interest on loans) for January to March compared to the same period last year almost doubled to over 4.44 billion dollars. The big difference in the growth rate of gross and net profit of Rosneft explained mainly by exchange rate changes and increases in taxes and transit fees to transport oil. The company at the same time explain that they are able to optimize costs. For the first quarter Rosneft increased its average daily oil production by 8.4% yoy to about 2.29 million barrels. Production of petroleum products has increased by 4%, January-March 2010 it was 12.1 million tonnes.
3M increased its profit with 80%
The U.S. industrial giant 3M, which is involved in the index Dow Jones IA, reported profit growth of 80% annually for the first quarter of this year and became one of the many companies whose financial results exceeded the forecasts of market analysts. The main reason for the high increase were good Fixed Rate Remortgage deals made by the company and cheap rates, which they got. The net profit of the company that produces more than 55 thousand different products, increased to 930 million dollars or 1.29 dollars per share for the three months to March 31st. Its financial results for the same period last year was 518 million, or 74 cents a share. After excluding one-off effects, earnings per share amounted to 1.40 dollars, and this proved more than analysts expected 1.21 dollars per share. Sales of 3M rose by 25% compared to the first quarter of 2009 to 6.35 billion dollars, each of the six business units of the company increased its revenue by at least 12% within the last 12 months. Industrial company and its shareholders happy with better forecasts for this year and expects its profit to increase to 6.35 billion dollars by the end of 2010, mostly because of soaring sales in developing countries. Leadership expects profit per share for the year to be in the range from 5.40 to 5.60 dollars, which is well above the January forecast for its earnings per share of 4.90 to 5.10 dollars per share.
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