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Brown-Forman lowers FY growth forecasts as sales dip continues in YTD

2016-03-02 14:04:00| Daily beverage news and comment - from just-drinks.com

Brown-Forman has reduced growth forecasts for its fiscal-2016 as sales in the first nine months of the year remained in the red.

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BNEF forecasts EVs to be 35% of global new car sales by 2040; cost of ownership below conventional-fuel vehicles by 2025

2016-02-25 16:56:17| Green Car Congress

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Tele2 forecasts flat sales, lower EBITDA in 2016

2016-01-28 08:52:00| Telecompaper Headlines

(Telecompaper) Tele2 reported a fall in profits in the fourth quarter, amid costs for restructuring its operations and launching its mobile network in the Netherlands. In the three months to December, EBITDA fell 5 percent to SEK 1.337 billion, hurt by the contracting fixed telephony business, start-up costs in the Netherlands and currency devaluation in Kazakhtelecom. EBIT dropped to SEK 364 million from SEK 735 million a year earlier, due to a number of one-time charges. These include SEK 133 million for the 'Challenger' cost-reduction programme announced last year and SEK 118 million for the planned merger of the operations in Kazakhstan with Kazakhtelecom's mobile business. Tele2's net profit plunged 91 percent to SEK 45 million, but the company stuck to its pledge to increase the dividend 10 percent to SEK 5.35. At the top line, net sales rose 1 percent to SEK 6.943 billion, led by 2 percent growth in mobile service revenue and helped by a VAT settlement in the Netherlands. For 2016, Tele2 forecast mobile service revenue growth in the mid-single digits and total net revenue of SEK 26-27 billion, essentially flat compared to SEK 26.856 billion last year. EBITDA is expected to fall to SEK 4.6-5.0 billion in 2016 from SEK 5.757 billion in 2015.

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