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VW's Audi grapples with stagnant profit as crisis kicks in

INGOLSTADI: Volkswagen's main profit driver Audi is grappling with stagnant earnings as the world's second-largest luxury carmaker feels the pinch of slumping auto demand in core European markets.Operating profit at Audi edged up 0.6 percent last year to 5.38 billion euros after a 60-percent surge in 2011, while net profit fell 2 percent to 4.35…

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March 12, 2013


StanChart set for record $7 billion profit despite Iran fine

LONDON: Standard Chartered is set to report its 10th successive record annual profit on Tuesday after strong growth in its core Asian markets offset a big fine for breaking sanctions on Iran.A $667 million fine from U.S. authorities is likely to have wiped out much of the London-based bank's growth last year, but profits should…

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March 5, 2013


Maruti Q3 net profit doubles, first rise in six quarters

NEW DELHI: Maruti Suzuki Ltd(MRTI.NS), India's biggest carmaker by sales volume, said its third quarter profit more than doubled, its first increase in 18 months after a torrid period marked by a strike, plant shutdowns and a demand slowdown.The small car champion, which two years ago produced every other new car sold in India, outperformed…

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January 25, 2013


LG Display posts robust Q4 profit amid Apple worries

SEOUL: LG Display Co Ltd reported a second consecutive quarterly profit, beating forecasts by far on a rebound in television sales during the year-end holiday season and solid sales of screens used in Apple Inc's (AAPL.O) iPad and iPhone.But concerns about slower growth for Apple products have risen, particularly in the wake of disappointing earnings…

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January 24, 2013


Galaxy phones power Samsung to record $8.3 bln profit

SEOUL: Samsung Electronics, the world leader in mobiles and memory chips, said it likely earned a quarterly profit of $8.3 billion, as it sold close to 500 handsets a minute and as demand picked up for the flat screens it makes for mobile devices, including those for rival Apple Inc products.That run of five straight…

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January 8, 2013


China's Huawei expects profit jump after reporting drop in 2011

HONG KONG: China's Huawei Technologies Co Ltd, the world's No.2 telecom equipment maker, expects a 2012 profit gain after reporting a sharp drop a year ago, thanks to new projects and increased sales in high-end mobile phone markets such as Japan.Net profit is expected to be around $2.4 billion, rotating and acting Chief Executive Officer…

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January 4, 2013


PIA is enjoying operational profit from September, 2012: GM Public Relations

Staff ReportISLAMABAD: The General Manager, Public Relations, of Pakistan International Airlines (PIA) Sultan Mehmood has claimed that the national air carrier is enjoying operational profit from September this year, SAMAA reported on Saturday.Sultan Ahmad said while talking to SAMAA from Islamabad this day that eight more planes will be hired on lease and they will…

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December 22, 2012


DuPont cutting 1,500 jobs; profit forecast slashed

NEW YORK: DuPont slashed its earnings forecast, reported a lower-than-expected quarterly profit and announced 1,500 job cuts on Tuesday, signs that demand for the chemical company's lucrative paint and solar products is slipping around the world.Shares of DuPont, a component of the Dow Jones industrial average, fell more than 9 percent in midday trading.The job…

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October 23, 2012


Microsoft profit slips as PCs fizzle; Windows 8 awaited

EATTLE: Microsoft Corp's quarterly profit fell a greater-than-expected 22 percent, as sales of computers running its Windows operating system dipped and some revenue was deferred ahead of upcoming releases of its core Windows and Office products.The sharp decline surprised investors, who had underestimated the effect of weak personal computer sales, sending Microsoft's shares down 1.3…

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October 19, 2012


Samsung's Galaxy phones drive record profit

SEOUL: Samsung Electronics reported quarterly profit of $7.3 billion – a fourth straight record quarter and nearly double last year's figure – as strong sales of its Galaxy smartphones more than offset reduced orders for chips and screens from Apple Inc, the South Korean group's main rival and leading customer.But the record run will come…

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October 5, 2012


Profit rates on saving schemes trimmed

Staff ReportISLAMABAD: The Central Directorate of National Savings has announced reduction in profit rates on various saving schemes by up to 1.32 percentage points effective from Monday. According to details, the CDNS has announced cut in profit rates following a 150bps reduction in key interest rate or discount rate by the State Bank of Pakistan…

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August 25, 2012


Bharti Airtel profit falls for 10th qtr, shares hit 2-yr low

NEW DEHLI: Bharti Airtel, India's top telecoms carrier, posted its 10th straight quarter of profit decline as cut-throat competition squeezed margins, sending its shares to their lowest level in two years.Bharti, controlled by billionaire Sunil Mittal, reported a sharply lower-than-expected net profit of 7.62 billion rupees for its fiscal first quarter ended June. That was…

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August 8, 2012


Sony stumbles as demand wanes; slashes profit outlook

TOKYO: Sony Corp slashed its forecast for 2012/13 operating profit and lowered its sales expectations for key products including its handheld PSP and PS Vita devices as new boss Kazuo Hirai battles to revive the fortunes of the electronics giant.Sony reported on Thursday that operating profit for April-June fell a much steeper-than-expected 77 percent to…

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August 2, 2012


Smartphones power record Samsung profit of $5.9 bln

SEOUL: Samsung Electronics Co (005930.KS), the world's top technology firm by revenue, reported on Friday a record profit of $5.9 billion for the June quarter, as rampant sales of its Galaxy S handset helped stretch its lead over Apple Inc (AAPL.O).September quarter mobile profits are expected to forge further ahead as the latest Galaxy model…

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July 27, 2012


Smartphones power Samsung to record $4.5 bn profit

SEOUL: South Korea's Samsung Electronics Friday posted a record net profit of 5.19 trillion won ($4.53 billion) in the second quarter, powered by strong smartphone sales despite the global downturn.The company, the world's biggest technology firm in revenue terms, also reported a record operating profit in April-June of 6.72 trillion won.The net profit represented a…

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July 27, 2012


Etisalat Q2 profit up 17 pct; to focus on high growth mkts

DUBAI: Etisalat, the Gulf's No.2 telecoms operator, posted a 17-percent rise in quarterly profits on Wednesday, topping forecasts, and said it would shift its focus to high growth, populous markets in the Arab world, Africa, Asia to drive revenues.The Abu Dhabi-based operator, which operates in 17 countries, saw higher revenue from its international operations partly…

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July 25, 2012


Apple profit jumps to $8.8 bn, but below forecasts

SAN FRANCISCO: Apple reported a rise in its quarterly profit to $8.8 billion on hot iPad sales but missed lofty Wall Street expectations due, in part, to iPhone lovers waiting for a rumored new model. The profit in the fiscal quarter to June was up 20.5 percent from a year earlier, but short of analyst…

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July 25, 2012


Samsung's Galaxy powers record $5.9 bln profit; euro a worry

SEOUL: Soaring sales of the Galaxy smartphone drove record quarterly profit of $5.9 billion at Samsung Electronics, though the South Korean tech giant is sweating over how Europe's debt crisis is denting demand in its biggest market for televisions and home appliances.The flagship Galaxy smartphones are likely to have stretched their lead over rivals Apple…

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July 6, 2012


Suzuki sees slight profit growth ahead as India recovers

TOKYO: Suzuki Motor Corp posted on Thursday a lower-than-expected fourth-quarter operating profit and forecast only a slight growth this year, citing the yen's strength and a doubling in spending as it steps up investments in India and other growth markets.For the quarter ended on March 31, Japan's fourth-biggest automaker reported an operating profit of 26.85…

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May 10, 2012


Oil prices slip on profit-taking

LONDON: World oil prices retreated on Wednesday when investors took profits from recent gains ahead of US inventory data, analysts said. Brent North Sea crude for delivery in June lost 35 cents to $119.31 a barrel in London afternoon deals. New York's main contract, light sweet crude or West Texas Intermediate (WTI) for June, fell…

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May 2, 2012


Smartphones push Samsung to record $4.4 bln net profit

SEOUL: South Korea's Samsung Electronics reported a record net profit of 5.05 trillion won ($4.44 billion) in the first quarter, thanks largely to strong smartphone sales.The figure, released on Friday, compares with net profit of 2.78 trillion won a year earlier and 4.0 trillion last October-December.Samsung, the world's largest technology firm in revenue terms, also…

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April 27, 2012