Earnings News Headlines - Yahoo! News

	Earnings News Headlines - Yahoo! News
	Swiss propose corporate tax reforms after EU pressure By Caroline Copley BERNE (Reuters) - Switzerland outlined plans on Friday to reform the way it taxes companies as it seeks to counter criticism from Brussels while trying to remain attractive to the many multinationals based in the country. The Swiss have lured thousands of foreign companies including online retailer eBay and trading giant Glencore by taxing foreign profits at a lower rate than domestic earnings, a practice known as "ring fencing". ... Read More » Nigeria's Fidelity Bank says Q1 pretax profit up 40 pct LAGOS (Reuters) - Nigeria's Fidelity Bank said on Friday its first-quarter pretax profit rose 40.42 percent year-on-year to 5.94 billion naira, up from 4.23 billion naira a year ago, the bank said. Gross earnings at the mid-tier lender rose to 31.43 billion naira during the three months as against 22.43 billion naira in the same period last year. Read More » Nigeria earns 621 bln naira in revenues in April ABUJA (Reuters) - Nigeria's government received 621 billion naira in revenues in April, up from 595.7 billion the previous month owing to improved earnings from domestic crude and a petroleum profit tax, the accountant general said on Thursday Accountant General Jonah Otunla said Nigeria had distributed 721.5 billion naira to its three tiers of government -- federal, state and local -- including funds from a repayment by the state oil firm and savings from lower fuel subsidy costs. Read More » Dell's 1Q earnings fall 79 pct as PC sales sag ROUND ROCK, Texas (AP) — Dell's earnings plunged 79 percent in the latest quarter as the shift to smartphones and tablets reduced demand for the company's personal computers. Read More » Wal-Mart U.S. sales weak; outlook below analysts' forecast By Jessica Wohl (Reuters) - Wal-Mart Stores Inc posted weaker-than-expected quarterly earnings on Thursday due to poor U.S. sales and said its profit for this quarter might also miss Wall Street's forecast. Everything from pressure on shoppers to a cool start to spring led to an unexpected 1.4 percent drop in sales at Walmart U.S. stores open at least a year. (Graphic on Wal-Mart earnings http://link.reuters.com/qan28t) Consumers with lower incomes have been especially squeezed by higher payroll taxes, consistently elevated gas prices and a shaky employment recovery. ... Read More » Stocks flip between gains and losses; Cisco climbs NEW YORK (AP) — Cisco Systems led the Dow Jones industrial average slightly higher Thursday after the technology company reported higher sales. Mixed corporate earnings and economic reports kept the major stock indexes flipping between slight gains and losses. Read More » S.Africa's Tongaat expects yearly earnings to rise JOHANNESBURG (Reuters) - South Africa's Tongaat Hulett said on Thursday it expected headlines earnings per share for the year to rise more than 14 percent, lifted in part by increased sugar production. The agri-processing company said in a trading statement sugar production rose by 9 percent to 1.25 million tons with major increases in Zimbabwe - the latest sign of an agricultural recovery in the country. Read More » Kenya's Diamond Trust Bank Q1 profit up 28 pct NAIROBI (Reuters) - Kenyan lender Diamond Trust Bank posted a 28 percent year-on-year jump in first-quarter profit, helped by growth in net interest income. Pretax profit for the three months to March 31 rose to 1.73 billion shillings after the bank's net interest income climbed 22 percent to 2.48 billion shillings. Kenyan banks expect an improvement on last year's results in 2013 after a peaceful election in March boosted business confidence in east Africa's biggest economy. Diamond Trust Bank's first-quarter earnings per share increased to 5.22 shillings, against 4. ... Read More » SABMiller Zimbabwe unit year earnings up 36 percent HARARE (Reuters) - SABMiller's Zimbabwe unit reported a 36 percent rise in full-year earnings on Wednesday, driven by strong sales of premium lager and non-alcoholic beverages. Delta Corporation, 38 percent owned by global brewing giant SABMiller, said earnings per share rose to 8.49 cents in the year ending March, up from 6.22 cents previously. After-tax profit rose to $104 million, compared to $72 million in 2012. Zimbabwe's economy, which had grown by nearly double digit figures from 2009 to 2011, was expected to grow 5 percent this year after a sharp slowdown in 2012. ... Read More » State Bank of Mauritius nine-month pretax profit up 18.3 pct PORT LOUIS (Reuters) - State Bank of Mauritius (SBM) said on Wednesday it expected demand for credit to suffer from a weak investment climate after posting an 18.3 percent rise in nine-month pretax profit. SBM, the Indian Ocean island's second-largest bank by market share, said pretax profit rose to 2.93 billion rupees in the first three quarters, driven mostly by an increase in net interest income. Earnings per share rose to 9.37 rupees from 7.70 rupees. SBM said in a statement it would continue to focus on geographical diversification and on using improved technology to increase efficiency. Read More » Mauritius conglomerate Rogers' first-half profits up sharply PORT LOUIS (Reuters) - Mauritius-based conglomerate Rogers' first-half pretax profit soared to 1.96 billion rupees from 135.7 million a year ago due to an exceptional item and improved performance in property prices, the firm said on Wednesday. Analysts said the rise was due to the reclassification of land for construction of villas to investment property and the inclusion of a stake in luxury hotels group New Mauritius Hotels in Rogers accounts. Earnings per share rose to 17.26 rupees from 11.63 rupees. Rogers stock closed higher at 189 rupees from 182.25 rupees on Tuesday. Read More » For Japan lenders, Abenomics' pain comes first, gain later By Taiga Uranaka TOKYO (Reuters) - Japan's top three banks forecast weaker annual earnings as aggressive monetary easing squeezes them out of a profitable government bond trade and forces them to rely more on bread-and-butter lending where margins remain razor-thin. ... Read More » Kenya's Co-op Bank Q1 pretax profit up 31 pct NAIROBI (Reuters) - Kenyan lender Co-operative Bank said on Wednesday profit jumped 31 percent in the three months through March, helped by growth in customer deposits and net interest income. The bank, rooted in the east African nation's co-operative movement which brings together farmers and workers, said it made a first-quarter pretax profit of 3.23 billion shillings. "The bank reported strong capital ratios and will continue retaining some of the earnings for expansion," Chief Executive Gideon Muriuki said in a statement. Net interest income rose more than 23 percent to 4. ... Read More » Centamin Q1 earnings jump 71 pct, operations on track LONDON (Reuters) - Gold producer Centamin, battling a legal ruling against it in Egypt, posted a 71 percent jump in quarterly earnings and said it was on track to meet its production guidance for the year. Centamin posted core earnings of $81.7 million for the first three months of 2013, up 71 percent on the same period last year, after it ramped up production at its sole producing mine in Egypt. The company is in the process of appealing a court ruling in Egypt which questioned its right to operate the mine and has wiped off more than half the value of its shares. ... Read More » Dell's first quarter earnings to come in below expectations: WSJ SAN FRANCISCO (Reuters) - Dell Inc will report on Thursday fiscal first-quarter earnings below expectations, the Wall Street Journal cited a person briefed on the company's results as saying. The world's No. 3 PC maker planned to report earnings excluding "some expenses" of 20 cents a share, lagging an average estimate for 35 cents, the Journal cited the unidentified person as saying. (Reporting by Edwin Chan; Editing by Gerald E. McCormick) Read More » Dell raises intrigue by rescheduling 1Q report ROUND ROCK, Texas (AP) — Struggling personal computer maker Dell will report its latest quarterly earnings ahead of schedule in a move likely to spur speculation that the results will be dismal. Read More » Kenyan shares dip on KCB, shilling steady By George Obulutsa NAIROBI (Reuters) - Kenya Commercial Bank (KCB) shares fell for the third straight session on Tuesday after the stock started trading ex-dividend. The shilling held steady. KCB, east Africa's largest bank by assets, recovered to close 5.3 percent lower at 40.50 shillings, after losing as much 8.8 percent. Stock analysts said that despite posting a 26 percent rise in its first quarter pretax profit, the earnings were below market consensus. ... Read More » Safaricom warns on mobile banking tax as profit surges By Duncan Miriri NAIROBI (Reuters) - Kenya's top telecoms firm Safaricom expects to maintain its almost 40 percent earnings margin this year but "premature taxes" could stifle growth of lucrative mobile phone-based money transfers, its chief executive said on Tuesday. Safaricom, 40-percent owned by Britain's Vodafone, said pretax profit climbed to 25.5 billion shillings in its year to end-march, off the back of 16 percent growth in total revenue. The company has had a very successful year. Its 39. ... Read More » Airbus sales drive Q1 profits at parent company PARIS (AP) — European aerospace company EADS said strong deliveries by airplane maker Airbus helped drive higher earnings in the first quarter and laid out the hope that the new A350 long-range aircraft should make its first flight this summer. Read More » Safaricom rallies on FY profit leap, shilling flat NAIROBI (Reuters) - Shares in Safaricom climbed 3.6 percent after Kenya's biggest telecoms firm posted a surge in full-year profit underpinned by strong growth in non-voice revenues. Safaricom, 40-percent owned by Britain's Vodafone, said pretax profit leapt 47 percent to 25.5 billion shillings on the back of a 16 percent growth in revenue. Its M-PESA money transfer system that uses mobile handsets was a "major revenue driver", it said, raking in some 22 billion shillings in revenue, about 18 percent of total earnings. ... Read More » Telecom Egypt says Q1 revenue up 1.4 pct, beats forecasts CAIRO (Reuters) - Telecom Egypt (TE) reported first-quarter revenue of 2.72 billion Egyptian pounds, up 1.4 percent from the same period last year and beating an average forecast of 2.59 billion based on five analysts' forecasts. The landline monopoly, in which the government owns 80 percent, on Tuesday posted a net profit of 858 million Egyptian pounds and earnings before interest, taxes, depreciation and amortization (EBITDA) of 947 million. The average forecast for the company, whose data services are helping offset lower fixed-line income, was for net profit of 595. ... Read More » Nigeria's UBA says Q1 pretax profit up 12 pct yr-yr LAGOS (Reuters) - Nigeria's United Bank for Africa (UBA) said on Monday its first quarter pretax profit rose 11.9 percent year-on-year to 17.15 billion Nigerian naira, up from 15.32 billion naira in the same period of 2012. Gross earnings at the top tier lender climbed to 62.7 billion naira during the first three months of 2013, as against 52.4 billion naira in the same period last year, it said in a filing with the local bourse. Read More » Silver Wheaton profit falls, shares down TORONTO (Reuters) - Shares of Silver Wheaton Corp fell more than 3 percent on Monday after first-quarter earnings came in slightly below expectations and the company changed its dividend policy to tie the payout to performance over a whole year. Silver Wheaton reported a 9 percent drop in first-quarter profit late on Friday, as silver equivalent sales lagged production. The Vancouver-based company, which helps finance mining projects in exchange for the right to buy future silver production at a set price, produced 8 million equivalent ounces, but sold just 6. ... Read More » New Mauritius Hotels' half-year profit drops 19 pct PORT LOUIS (Reuters) - Luxury hotels group New Mauritius Hotels (NMH) reported a 19 percent fall in first-half pretax profits on Monday, blaming reduced arrivals from Europe and high air ticket prices in the last three months. Ranked among the Indian Ocean island nation's most-traded stocks, NMH said its pretax profit fell to 841.5 million rupees in the six months to end-March, from 1.036 billion rupees in the same period a year earlier. Earnings per share fell to 4.65 rupees from 5.60 rupees a year ago. Shares in NMH closed lower to 77 rupees from 78 rupees. ... Read More »