The largest South Korean carmaker Hyundai please their shareholders with news that profits for the last three months of 2009 increased nearly four-fold. This helped and government programs in many countries around the world to promote sales of new and more efficient vehicles, police Bloomberg. The net profit of Seoul-based car company is increased to 945.5 billion South Korean won (821 million dollars) for the fourth quarter of last year from 243.5 billion won profit a year ago. This was more than market expectations for a positive financial result of 815.6 billion won. Hyundai sales in the fourth quarter rose by 9.3 percent annually to 9.65 trillion. won. Leadership plans to market in South Korea for at least three new models this year. This continues to be the most profitable market for the company as sales there rose by 63% yoy in the fourth quarter. Throughout the past year the retail sales of Hyundai’s worldwide increased by 14 percent to a record 3.2 million vehicles. The company’s market share is increasing in the United States, China and India. The global market share of the company last year reached 5.2 percent, according to Chief Financial Officer of Hyundai Hee Lee Vaughn.
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The Consumers worldwide will spend 6.2 billion dollars in 2010 in the stores for mobile applications, predicts Gartner. Analysts think of the famous agency that stores mobile applications will register more than 8 billion “Download” in 2010 Eight out of ten downloads of free will, even predict the company. Until 2013 did the total number of withdrawn applications will reach 21.6 billion if free downloads will account for about 82% of all withdrawals in 2010, then three years later free download will represent 87 percent of all. The growing popularity of smartphones and growing sales volumes of such devices will prompt users to experiment with mobile applications analyzed by Gartner. Researchers are categorical that the games remain the number one use for mobile gadgets, followed by applications for mobile shopping, social networks.
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The Russia’s largest bank – Sberbank, reported a decline in profits for the third quarter by 82 percent for allocation to cover bad loans. The bank’s profit for the period July-September fell to 4.25 billion rubles (144 million dollars) from 23.2 billion rubles a year earlier. The overdue loans at the end of the third quarter accounted for 7.9 percent of total lending to the share of 1,8 per cent in the beginning of the year from 6,4 percent in late half. Provisions for bad debts jumped by 27 percent during the third quarter to 493.8 billion rubles, an increase of more than eight times the comparable period last year. Total bank lending increased by 4,8 percent to 5,5 trillion rubles.
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Italian Fiat automobile concern announced that for the third quarter of the year, sales revenue fell by 62 percent, and the reason for this is mostly a partnership with Chrysler Group, wrote in an online version of newspaper Wall Street Journal. The report of the company shows that its net profit in the third quarter fell nearly 19 times – up to 25 million, compared to 468 million EUR a year earlier. Revenue fell to 12 billion euro, 14.3 billion EUR a year ago at this time. “The company may reconsider the viability of investments made and planned, and even lead to their reduction,” he wrote in a message distributed to the media of concern. Because of this Fiat forecasts that revenue from sales by the end of the year will fall by another 1 billion EUR and losses of the Group will reach 5 billion EUR.
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Procter & Gamble reported a profit of 2.47 billion dollars or 80 cents earnings per share in its fiscal fourth quarter, forward Reuters. To sew period last year the company that makes products such as forward the Pampers diapers and washing product Tide had a profit of 3.02 billion dollars. However, the results are slightly better than expectations of analysts, which provides that the profit per share will be 78 cents. For the period April-June the company is registered sales to 18.66 billion dollars as the experts expected 19.27 billion dollars. Since the beginning of the year the company’s shares have decreased by 10.3 percent, in pre-trading on the New York Stock Exchange shares decreased by 1.9 percent to 54.40 dollars.
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The biggest energy company in Italy and the owner of the Maritsa East 3 Enel reported 28% growth in its net profit to 3.524 billion euros in the first half of the year versus the same period in 2008, announced by the company. The company’s operating profit increased by 11 percent to 5.579 billion euros. The company’s revenues amounted to 28.457 billion or 3 percent less than the same period last year. The net electricity produced by the Enel Group in the first half of 2009 amounted to 122.4 tera-W/h (growth of 5.1%), of which 42.3 TWh in Italy and 80.1 TWh – in the world. Of the total net amount of 53.8% is produced from thermal power stations, 34.5 percent from renewable sources (hydro, wind, geothermal and biomass) and 11.7 percent from nuclear plants. As part of the plan to refinance and extend the average maturity of the consolidated liabilities of the Group Board of Directors of Enel and approve the issue – until June 30, 2010, one or more bond issues to a maximum value of 10 billion euros.
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The U.S. bank Goldman Sachs will likely account for a huge profit in the second quarter of 2009. The publication quoted analysts that the bank will take into account the profit of more than $ 2 billion for the period March-June, the average expectation of Wall Street have a net profit of Goldman Sachs from $ 3.54 per share. These gains would exceed the profits of Goldman Sachs for the first quarter that were in the amount of $ 3.39 to share. Despite these rather positive expectations about the profitability of Goldman Sachs, the U.S. stock markets and the world today, July 13, remain under pressure. Asian markets fell by around 2 percent and U.S. stock futures are “red” with 0.75-0.85%, due to concerns about the financial performance of major U.S. companies for the second quarter. The average estimates are for losses of about 36 percent in financial performance results of these 500 companies entering the index S & P500. The focus this week will be placed on the accounts of leading U.S. banks are expected as follows: a Goldman Sachs (of 14.07), of JP Morgn Chase (16.07) and Bank of America and Citrgoup (17.07). Special forecasts for the banks are better financial results for the second quarter, but they relate mainly to weaken rules on so-called market valuation of financial assets (mark-to-market accounting), which came into force exactly in the second quarter of 2009. While banks in the U.S. enjoy a good state banks in the UK are at risk.
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