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BA owner IAG's profits hit by weak pound

2016-07-29 10:17:38| BBC News | Business | UK Edition

Airline group IAG, the owner of British Airways and Iberia, says currency movements cost it 148m in the latest quarter of trading, mainly due to the weak pound.

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Millicom cuts full-year outlook on weak revenue growth

2016-07-21 02:00:00| Total Telecom industry news

LatAm, African telco's CEO says he is navigating through sluggish macro-economic conditions.

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Eurotunnel cuts profit forecast due to weak pound

2016-07-20 09:25:11| BBC News | Business | UK Edition

The fall in the pound after the UK referendum on EU membership forces Eurotunnel to lower its 2016 profit forecast by 4.5%.

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Ericsson sales fall 11% in Q2, sees weak H2

2016-07-19 08:37:00| Telecompaper Headlines

(Telecompaper) Ericsson reported a further slowdown in sales in the second quarter, with revenues falling 11 percent year-on-year to SEK 54.1 billion due to the economic weakness in parts of the world. The company's main growth markets, China and North America, posted flat sales, and sales grew only in southeast Asia and Oceania. Ericsson said it expects the sales trend to continue in the second half of the year. A larger share of mobile broadband coverage contracts and services business led to a fall in the gross margin to 32.3 percent from 33.2 percent a year ago, and the operating margin dropped to 5.1 percent from 5.9, also impacted by a negative revaluation effects of currency hedge contracts. Net profit declined 26 percent year-on-year to SEK 1.6 billion, and operating cash flow was a negative SEK 0.7 billion. Ericsson said it will take further actions to reduce costs, targeting a new annual run rate of operating expenses, excluding restructuring charges, of SEK 53 billion in the second half of 2017.

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