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Tele2 Q1 profit falls on Kazakhstan writedown
2016-04-21 08:09:00| Telecompaper Headlines
(Telecompaper) Tele2 reported a sharp fall in profit for the first quarter, hurt by its activities in Kazakhstan. Net profit fell to SEK 339 million from SEK 517 million a year ago, mainly due to a writedown of SEK 326 million on the goodwill for the Kazakh activities for the weak economic climate and currency devaluation there. Tele2 said it completed its joint venture with Kazakhtelecom in the quarter and integration has started. Customer and revenue growth is improving, and profits should hopefully follow, thanks to synergies from the joint venture and the withdrawal of unprofitable price plans, the company said. EBITDA was also lower, at SEK 1.226 billion versus SEK 1.428 billion a year ago, and the margin fell to 19 percent from 22. Tele2 blamed the decline on costs associated with its commercial ramp-up in the Netherlands following the 4G network launch, Sweden mobile marketing investments and the continued decline in its fixed operations. The company noted that since the launch in the Netherlands, it now offers 4G across its footprint.
Tags: falls
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KFC-owner profit boosted by China sales
2016-04-21 02:01:06| BBC News | Business | UK Edition
Yum Brands, owner of KFC, Pizza Hut and Taco Bell, reports an 8% rise in profit, boosted by better-than-expected sales at its restaurants in China.
Tags: sales
china
profit
boosted
N Brown should weather storm despite FY profit drop
2016-04-20 14:20:00| Daily apparel & textile news and comment - from just-style.com
Ongoing transformation efforts by N Brown Group look set to allow the UK fashion retailer to grow its share of the clothing market, despite a fall in earnings in its last fiscal.
Tags: brown
weather
drop
profit
China Unicom issues Q1 profit warning
2016-04-20 02:00:00| Total Telecom industry news
But telco insists it will reverse recent declines in mobile customer numbers in first three months of 2016.
Tags: china
issues
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warning
China Unicom warns for sharp fall in Q1 profit
2016-04-19 12:19:00| Telecompaper Headlines
(Telecompaper) China Unicom has warned of a sharp fall in profit on lower service revenue in the first quarter. Despite showing a recovery in the mobile market with net additions of 6.61 million subscribers, the company said mobile service revenue was down 1 percent year-on-year, at CNY 36.2 billion. Total revenue at the operator was CNY 60.8 billion, according to the preliminary report, an increase both year-on-year and versus Q4 2015. However, net profit fell by around 85 percent to CNY 480 million, mainly due to a 16 percent rise in selling and marketing expenses and a 37 percent increase in network, operation and support expenses.
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