Profit
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Red-hot cocoa price melts profit at top chocolate-maker
BARRY Callebaut, the world’s biggest supplier of chocolate to the food industry, said Wednesday (Apr 10) that the surge in global cocoa prices had chipped away at profits. In the…
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Samsung Electronics expects 10-fold rise in Q1 profit
SAMSUNG Electronics said on Friday (Apr 5) it expects first-quarter operating profits to rise more than 10-fold year on year as chip prices recover. The firm is the flagship subsidiary…
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BlackBerry reports surprise profit on demand for cybersecurity services
CANADA’S BlackBerry reported a surprise profit for the fourth quarter on Wednesday (Apr 3), helped by higher demand for its cybersecurity services amid growing online crimes and high-profile hacks. US-listed…
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Levi Strauss raises profit forecast on cost saving initiatives, fewer discounts
LEVI Strauss raised its annual profit forecast on Wednesday (Apr 3), citing the apparel maker’s recent cost savings from job cuts and less aggressive discounts on its jeans and denim…
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ExxonMobil signals weaker oil and gas prices to hit first-quarter profit
EXXONMOBIL on Wednesday (Apr 3) signalled first-quarter operating results would drop over the prior quarter on weaker oil, gas prices and a big loss in fuel derivatives, a securities filing…
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Samsung profit likely biggest in six quarters on higher chip prices
SAMSUNG Electronics is expected to post a nearly nine-fold increase in first-quarter profit from a year earlier as rebounding semiconductor prices lift earnings from a low base caused by a…
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Lego billionaires’ cash pile grows as portfolio swings to profit
THE billionaire owners of the Lego empire reported a 5.9 per cent rise in profits, helped by a turnaround in its investment portfolio. The Kirkbi group’s net income rose to…
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Insurer Lloyd’s of London swings to US$13.5 billion profit in 2023
LLOYD’S of London swung to a pre-tax profit of US$13.51 billion in 2023, the commercial insurance market said on Thursday (Mar 28), boosted by strong underwriting and investment performance. The…
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China Life profit falls as market rout hurts investments
CHINA Life Insurance, the nation’s largest life insurer, said profit fell 31 per cent last year as a stock market rout and lower bond yields hurt investment returns. Net income…
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Top China bank ICBC reports flat 2023 profit
INDUSTRIAL and Commercial Bank of China Ltd (ICBC) posted a 0.79 per cent rise in 2023 net profit, the world’s largest lender by assets said in a filing on Wednesday…
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China’s Bank of Communications posts slight profit gain, warns of property risks
CHINA’S Bank of Communications (BoCom), said on Wednesday (Mar 27) it needed to improve risk control of its property-sector related business, after posting tepid 2023 profit growth. BoCom, the first…
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Second Chance Properties H1 profit falls 52.8% to S$4.3 million
SECOND Chance Properties posted a 52.8 per cent fall in its net profit to S$4.3 million for its first half ended Feb 29, 2024, from S$9.2 million a year earlier. …
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Chinese EV Giant BYD Announces Record Annual Profit For 2023
Chinese battery and automotive giant BYD achieved a record profit in 2023, annual results showed Tuesday, despite fierce competition in the country as demand for electric vehicles grows. The Shenzhen-based…
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Ford reaffirms annual core profit outlook
FORD Motor reaffirmed its annual core profit outlook on Tuesday (Mar 26). The Detroit automaker expects an annual core profit of between US$10 billion and US$12 billion. Legacy US automakers,…
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China’s Citic Securities posts 7.5% fall in 2023 profit
CITIC Securities, China’s biggest brokerage, on Tuesday (Mar 26) reported a 7.49 per cent fall in its annual net profit, after shrinking investment returns and market turbulence. Net profit fell…
