Profit
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China EV giant BYD posts slowest quarterly profit growth in 2 years
CHINESE electric vehicle giant BYD reported an 18.6 per cent rise in fourth-quarter profit on Tuesday (Mar 26), its slowest since the first quarter of 2022, as EV sales lost…
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Sinopec 2023 profit falls 13% on oil prices, refining record
SINOPEC’S annual profits declined 13 per cent, after oil prices fell and Chinese refiners posted a record year for processing and imports. China’s largest fuel processor, officially known as China…
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China’s Didi swings to profit in fourth quarter
DIDI Global, China’s largest ride-hailing company, on Saturday (Mar 23) reported a fourth-quarter profit, indicating that the Chinese ride-hailing leader has gradually recovered from difficulties after prolonged regulatory scrutiny. Didi…
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PSA International’s FY2023 net profit drops 6.3 per cent to S$1.5 billion on lower revenue
TEMASEK-OWNED port operator PSA International’s 2023 net profit dropped 6.3 per cent from the year before to S$1.5 billion. This came as its revenue for the full year fell 11.2…
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Shangri-La Asia returns to black in FY2023 with US$184.1 million net profit
SHANGRI-LA Asia on Friday (Mar 22) recorded a net profit of US$184.1 million for its full year ended Dec 31, 2023, reversing from a US$158.5 million loss a year ago.…
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FedEx jumps on profit beat, improved margins in its Express unit
FEDEX shares surged in premarket trading on Friday (Mar 22) after the parcel giant beat estimates for quarterly profit and reported a higher operating margin at Express, its largest unit.…
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CK Hutchison warns growth risks building after profit drops
CK HUTCHISON Holdings reported its steepest drop in profit since 2015 and struck a cautious tone for the year ahead as uneven growth and heightened geopolitical risks weigh on the…
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China’s Ping An Insurance 2023 net profit falls 22.8%
PING An Insurance (Group) of China’s net profit fell 22.8 per cent year on year in 2023, the insurance giant said on Thursday (Mar 21), hit by a slowdown in…
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Hindenburg shorts data centre firm Equinix alleging inflated profit metric
HINDENBURG Research on Wednesday (Mar 20) disclosed a short position in data centre firm Equinix that operates as a real estate investment trust (Reit), alleging exaggerated profitability metric amid a…
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Chinese Internet Giant Tencent Posts Lowest Annual Profit Since 2019
Chinese internet giant Tencent on Wednesday posted its lowest annual profit since 2019, despite slight improvements recently in China’s economy and a more lenient attitude taken by regulators towards the…
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Geely profit beats estimates even as China’s price war rages on
GEELY Automobile Holdings, the Hong Kong-listed arm of billionaire Li Shufu’s auto empire, posted earnings that beat estimates and reiterated an outlook for further sales growth this year despite a…
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Top Glove trims Q2 loss to RM51.2 million, aims to return to profit in 2 quarters
TOP Glove Corporation executive chairman Lim Wee Chai expects the company to return to the black by FY2025, as Malaysian glove-makers continue to close the price gap with competitors in…
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Prudential posts 43% rise in FY2023 new business profit
PRUDENTIAL reported 43 per cent rise in new business profit to US$3.1 billion for the financial year ended last December, as compared to US$2.2 billion a year ago. On a…
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JPMorgan boosts quarterly dividend 9.5% after record profit
JPMORGAN Chase & Co unexpectedly lifted its dividend 9.5 per cent in the wake of a record annual profit and as regulators signal they may rethink proposals for tightening capital…
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Second Chance Properties expects H1 net profit to ‘decrease significantly’
MAINBOARD-LISTED company Second Chance Properties expects net profit for its first half ended Feb 29, 2024 to “decrease significantly” on year. This is compared to net profit of S$9.2 million…
