Generally Accepted Accounting Principles

Talanx says Q1 profits down, confirms targets

Agence France-PresseMay 15, 2013 07:31

Talanx, Germany's third-biggest insurer, said Wednesday its net profit slipped in the first quarter, hit by falling investment earnings, but it would stick to its full-year targets. Talanx said in a statement its net profit was down by 1.0 percent at 203 million euros ($262 million) in the period from January to March. Operating profit, as measured by earnings before interest and tax (EBIT), declined by 4.0 percent to 516 million euros, despite an 11-percent increase in gross premiums to 8.46 billion euros.

ArcelorMittal reports first quarter loss; repeats full year targets for 2013

The Canadian PressMay 10, 2013 03:45

AMSTERDAM - ArcelorMittal SA, the world's largest steelmaker, slumped to a first-quarter loss, even as the company's chief executive said restructuring efforts are starting to pay off and the steel market is stabilizing after a big reverse in the middle of last year. The Luxembourg-based company's business was hit by Europe's ongoing economic problems and slowing growth in China. In the same quarter last year, it benefited from a tax windfall.

Bombardier Inc. net profit down in Q1 but revenue soars to US$4.3B

The Canadian PressMay 9, 2013 14:02

MONTREAL - Bombardier's revenues surged 25 per cent in the first-quarter on higher-than-expected aircraft deliveries, while the aerospace and transportation giant said its CSeries commercial aircraft remains on target for its first flight next month. Chief executive Pierre Beaudoin told the company's annual meeting that Bombardier is at a "pivotal point" as several of its development projects, including the CSeries will begin to generate revenues and profits. "This is great news for shareholders," he told shareholders.

Torstar Corp hopes paywall will revive revenues after profits tumble to $4.2M

The Canadian PressMay 8, 2013 09:35

TORONTO, Cananda - Torstar Corp. (TSX:TS.B) hopes its digital paywall, expected to launch in the third quarter, will provide a new revenue stream as the newspaper and book publisher struggles with declines in print advertising. John Cruickshank, publisher of the Toronto Star, said the launch is taking longer than expected because of technical challenges in trying to link the existing circulation system to the metering and content systems.

Axel Springer says net profit up in Q1

Agence France-PresseMay 7, 2013 03:17

German media giant Axel Springer said Tuesday its first-quarter business was boosted by major growth in digital media, even if the cost of expansion in the area was a drag on earnings. "Our performance in the first quarter of 2013 was boosted by the significant revenue and earnings growth of our digital media," Axel Springer said in a statement.

Football: United reveal record turnover figures

Agence France-PresseMay 2, 2013 10:00

Manchester United posted a record third-quarter turnover of £91.7million ($142.6 million) according to figures released to the New York Stock Exchange on Thursday. The English Premier League champions also said sponsorship had increased by more than 52 % and added they expected an overall annual income of £360 million.

CGI Group not worried by U.S. budget woes as shares hit all-time high

The Canadian PressApril 30, 2013 09:30

MONTREAL - CGI expects to continue growing its U.S. government business despite budget restraints that have delayed some contract awards. The Montreal-based information technology company's backlog decreased in the second-quarter as the so-called budget sequestration limited public spending. But CGI chief executive Michael Roach said U.S. President Barack Obama's budget included a US$2 billion IT increase. "Our growth rate is coming down within the year based on what we're seeing," he said Tuesday during a conference call to discuss second-quarter results.

Thomson Reuters reports lower Q1 operating profit; revenue up slightly at $3.1B

The Canadian PressApril 30, 2013 08:15

Thomson Reuters (TSX:TRI) reported Tuesday a drop in operating profit in the first quarter as it cited severance costs and an increase in depreciation and amortization expenses. The global news and information company said the underlying operating profit in the three months ended March 31 was $462 million, with adjusted earnings of 38 cents per share. That compared with underlying operating profit of US$497 million, or 39 cents per share, in the same 2012 period.

West Fraser Timber swing to Q1 profit of $67M; revenue rises to $863M

The Canadian PressApril 29, 2013 08:40

VANCOUVER - West Fraser Timber Co. Ltd. (TSX:WFT) swung to a profit in the first quarter as the forestry company reported improved lumber prices. The company said Thursday it earned $67 million or $1.57 per share on sales of $863 million in the first quarter of 2013. That compared with a loss of $19 million or 45 cents per share on revenue of $681 million. West Fraser said its lumber operations generated operating earnings of $122 million and earnings before interest, taxes, depreciation and amortization or EBITDA of $146 million in the quarter.

Growth concerns dog Amazon as it shores up digital beachhead

Thomson ReutersApril 26, 2013 06:33

By Alistair Barr and Ben Berkowitz SAN FRANCISCO/NEW YORK (Reuters) - Amazon.com Inc's stock sank 6 percent on Friday as a poor financial outlook revived concerns about whether the company can sustain its torrid pace of expansion while profitability improves.