The Russian group Rusal, which is the largest aluminum producer in the world, announced twice larger than expected profit for the second quarter after commodity prices rose this year due to increased demand from rapidly growing Asian economies. For best quarterly results contribute and increase the market value of the share of Rusal in Russia’s largest mining company Norilsk Nickel. Rusal net profit for the three months ended June 30 amounted to 1.02 billion dollars, or 7 cents a share, compared with a loss of 230 million dollars, or 2 cents a share, a year ago. Market analysts predicted a smaller net profit of 393 million dollars. Profit for first half of the year amounted to 1.27 billion dollars compared with a loss of 868 million dollars a year ago. Moscow-based company that is controlled by Russian billionaire Oleg Deripaska, increase its production this year after aluminum rose by more than 50%. Its price has risen to an average of 2,130 dollars per tonne on the London Metal Exchange in the first half of this year from 1,422 dollars per tonne a year ago, according to Rusal. According to company management demand of aluminum in Russia jumped 50 percent this year and another 30% next.
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The major airlines have made a profit of 3.9 billion dollars in the second quarter of 2010 show to the International Air Transport Association IATA. This indicates that the sector is in much better financial position compared to same period last year. Then the 47 largest airlines, the results of which are monitored by International Air Transport Association IATA, registered a loss of 881 million dollars. Main tribute to the strong performance had stable fuel prices and the gradual recovery of demand in recent months. With the strong performance are North America and Asia-Pacific region, the results of European airlines have been supported by sales of assets for 1.3 billion dollars. The profits of the airline companies, increased after the summer season in Europe, Asia and North America, which caused serious profits for the airlines. The companies removed the losses after the Iceland vulcano and realized high increase of the profits, which is also good sign for economy recovery. For the same period last year 47 leading airline suffered a loss of 881 million dollars.
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The second largest European car company PSA Peugeot Citroen returned to profit in the first half of the year with the help of government incentives for the automotive sector, which stimulated sales in Europe this year. Net profit of the French company for the period from January to June amounted to 680 million euros, compared with a loss of 962 million euros a year ago. The revenue for its first half year increased by 21% yoy to 28.40 billion euros, which contribute to programs of European governments to encourage purchases of cars and the release of several new models. Market analysts had expected the Paris-based company to net profit of 416.7 million euros based on sales of 28.3 billion. For the whole year management expects operating profit of 1.5 billion. Data of the Association of European Automobile Manufacturers show that in the first half of the year the market share of PSA Peugeot Citroen in Europe increased by 0.8 percentage points to 13.7 per cent. CEO of PSA Peugeot Citroen hopes Philip Vary by market penetration in developing countries to reduce dependence on sales in Europe, which are nearly two-thirds of all revenues of the company.
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The crude oil company BP announced that the head of the operation to contain and clean the spill in the Gulf of Mexico Bob Dudley will serve as CEO from 1 October. Her former manager Tony Hayward submitted his resignation after the company accumulated a loss of 17 billion dollars for the second quarter along the colossal cost of 32 billion dollars to clean the oil stain in the Gulf of Mexico and compensate the victims of the incident, Reuters reported. It was caused by the sinking of oil rig Deepwater Horizon in late April, which killed 11 people and caused the largest environmental disaster in U.S. history. To cover losses, BP plans to sell assets for 30 billion dollars. This is three times more than the original plans of the oil company to obtain $ 10 billion through the sale of its deposits. If you exclude the cost of 32 billion dollars oil spill along, BP would have issued a profit of 5 billion dollars and 8.9 billion operating cash flow, which is 31 percent more annually. BP has recently sold its deposits in the U.S., Canada and Saudi Arabia, the independent oil and gas company Apache against the amount of 7 billion dollars. They are estimated to be about 2% of energy reserve company.
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The largest commercial bank in Germany Deutsche Bank reported 48 percent profit increase for first quarter, thanks to the good performance of the investment division of a financial institution. The positive financial result of the bank is 1.76 billion euros or 2.66 euros a share for 1.19 billion reported January-March 2009 analysts’ expectations were more modest profit of 1.33 billion. The investment bank division has doubled its profits tax shouting to 2.6 billion due to the trade in shares and debt instruments. Agency sign that Bank of America and JP Morgan reported record profits of banking investment. Write-offs of assets were EUR 241 million. against EUR 1.5 billion a year ago. Although data reach an inhabited the company’s shares fell to 67 cents to 54.68 EUR at 10:32 local time.
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Ford Motor, which is the only company of American carmakers in the U.S. avoided bankruptcy last year, announced a profit of 2.1 billion dollars for the first quarter. Excluding one-off costs and earnings per share profit was 46 cents in expectations for 31 cents. The reported profit was higher than market expectations. The company reported fourth quarter earnings, which is the longest positive series since 2005. For the period January to March 2009, the Company reported a loss of 1.43 billion dollars. In its communication to the media, the company stated it expects this year to take account of stable earnings and this will happen one year before the deadline of Chief Executive Alan Mullan.
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Largest producer of healthcare products worldwide Johnson & Johnson reported 29 percent profit growth for first quarter of this year, which is a sign that the company continues to recover from the crisis, which affected its operations last year, forward AP. Much of the growth of profit, however, due to the effects off, bearing the company 910 million dollars in revenue from the liquidation fee. Its sales have also increased – by 4% yoy to 15.63 billion dollars. U.S. sales decreased by 5% over the past 12 months, while its revenues from international markets increased by 14.4 per cent. Nearly two-thirds of this increase is due to changes in exchange rates over the past year. The net profit of Johnson & Johnson for the first quarter amounted to 4.53 billion dollars or 1.62 dollars per share, compared with a positive result of 3.51 billion dollars or 1.26 dollars per share for the same period 2009. If one-off effects are excluded, the positive financial result increased by 3.1 percent to 3.6 billion dollars or 1.29 dollars per share. This was more than economists forecast profit of 1.27 dollars per share and revenue of 15.6 billion dollars. Relatively good financial results for the company’s first quarter was marred by the projections of its management, which reduced its forecast for the entire 2010 to U.S. $ 4.8 earnings per share compared to previous 4.9 dollars.
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Investment bank Goldman Sachs, whose popular name in recent days because of the investigation regarding the allegations raised against her for fraud in mortgage securities surprise their shareholders with news that its profit rose much more than expected with 91% in the first quarter of this year forward Bloomberg. Goldman Sachs, which is known as one of the oldest and most profitable investment banks on Wall Street, was involved in a scandal investigation after financial regulators in the U.S. in January accused of market manipulation, conflicts of interest and major securities fraud secured with high-risk mortgage loans. Net profit of the bank for three months to the end of March increased to 3.46 billion dollars or 5.59 dollars per share, compared with a positive result of 1.81 billion dollars or 3.39 dollars per share, year earlier. Analysts predicted New York-based Goldman Sachs to take account of earnings per share of 4.14 dollars. Revenue from the bank’s trading debt securities, currencies and raw materials increased by 13 per cent for the first three months of the year to 7.39 billion dollars. Proceeds from trading in shares jump 18% yoy to 2.35 billion dollars. The cost of salaries and bonuses, which are most significant cost of revenue of the bank increased by 17 percent to 5.49 billion dollars, equivalent to 43% of its total revenue.
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The largest brewery in the world, Anheuser-Busch InBev NV reported net profit for the third quarter, which exceeded market expectations, thanks to cost cuts and higher prices of its brands, which offset declining sales of Budweiser and Bud Light. Net profit company based in Belgium amounted to 1.55 billion dollars for the third quarter. Manual did not provide data on its financial results for the same period last year, when purchased for 52 billion U.S. brewer Anheuser-Busch, forward Bloomberg. Analysts expected the brewer to take into account profits from 1.39 billion dollars. The leadership of AB InBev managed to reduce its costs by 265 million dollars thanks to the merger between two companies and reduce the number of employees in marketing and administrative department. Leadership plans to cut costs by $ 1 billion this year and a total of 2.25 billion dollars over the next three years. Revenues decreased by 10.4% yoy to 9.76 billion dollars, which was less than the expected 10.11 billion dollars. The volume of sales decreased by 3.3% yoy in the third quarter, led by strong annual decline of 16.8 percent in Central and Eastern Europe.
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Metro, which is Germany’s largest chain of retail sales, announced that profits for the third quarter declined by 61 percent because of rising levels of unemployment and subsequent contraction of spending by consumers. The positive financial result of the Company for the period July-September was up 72 million or 22% of shares in 183 million EUR or 39 profit for the same period last year. Results jolt the market, we expect profits to be 89 million EUR. The revenue for the period decreased by 4.6 percent to 15.6 billion dollars. Retail sales in Germany, whence comes 40% of the proceeds of the Metro, celebrated a second successive month of decline in September. The decline of the Russian ruble and the Polish zloty also contributed to poor results, indicating the company. Yesterday the company’s shares fell by 26 cents, or 0.7 percent to 37.50 EUR, which limited their annual growth to 31%.
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