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Debenhams FY profits tumble on discounting

2014-10-23 12:03:00| Daily apparel & textile news and comment - from just-style.com

UK department store retailer Debenhams saw its profits tumble in last fiscal due to the impact of sales on last year's warm winter weather and heavy discounting during its crucial Christmas period.

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Debenhams profits tumble 24.8%

2014-10-23 09:12:19| BBC News | Business | UK Edition

Annual profits at Debenhams have fallen 24.8%, reflecting the impact on sales of last year's warm winter weather.

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ABF sugar profits tumble

2014-01-22 07:30:10| Sugar Industry News

Associated British Foods (ABF) says the recent drop in world sugar prices is likely to result in a "greater than previously expected" drop in full-year profits from its sugar division.

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Telecom NZ's FY profits tumble 23.5%

2013-08-23 03:58:00| Telecompaper Headlines

(Telecompaper) Telecom New Zealand reported net earnings of NZD 238 million for the financial year ended 30 June, down 23.5 percent from NZD 311 million in the prior financial year. After adjusting for one-off items (including restructuring costs and asset impairments), earnings grew 21.7 percent to NZD 281 million. Telecom said it made some deliberate calls during the year that impacted the result: to grow share in the mobile market, hold share in the broadband market, refocus the Gen-i business services portfolio, and significantly reduce operating costs. Adjusted EBITDA totalled NZD 1.04 billion, a 0.5 percent decrease from FY 2012, while reported EBITDA fell 14.6 percent to NZD 922 million. Adjusted operating revenues and other gains declined 8.1 percent to NZD 4.17 billion, with much of this attributable to a decline in fixed line revenues, and reported operating revenues were down 8.5 percent to NZD 4.19 million. Capital expenditure stood at NZD 465 million, an 18.6 percent increase year-on-year. Major capex items included purchases of 3G mobile spectrum, initial expenses relating to re-engineering of internal IT infrastructure, and early investment in a new optical transport network to upgrade the core network. Telecom ended the period with 649,000 broadband connections, up 4.8 percent, and 1,000 retail and Gen-i access lines, down 4.7 percent year-on-year. The mobile base grew 10.6 percent to 1.82 million.

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Globe's H1 profits tumble 72% on upgrade costs

2013-08-07 04:08:00| Telecompaper Headlines

(Telecompaper) Philippines communications provider Globe Telecom saw its first half profit tumble 72 percent to PHP 1.41 billion from PHP 4.96 billion in H1 2012 as the year-on-year improvement in EBITDA was not enough to cover the increase in accelerated depreciation charges related to network transformation projects. Core net income, which excludes non-recurring charges and foreign exchange and mark-to-market gains and losses, was up 13 percent year-on-year to PHP 6.4 billion. Service revenues went up 9 percent to PHP 44.5 billion from PHP 40.8 billion. Mobile revenues were PHP 35.8 billion, up 8 percent year-on-year, while broadband revenues grew 25 percent to PHP 4.11 billion. Fixed-line data revenues totalled PHP 2.02 billion, up 12 percent, but fixed-line voice revenues were PHP 1.36 billion, down 6 percent from the year-ago quarter. Globe ended the quarter with 36.1 million mobile subscribers, up 14 percent year-on-year, while the number of broadband subscribers reached 1.8 million, up 15 percent. EBITDA went up to PHP 18.9 billion from PHP 17.7 billion as the revenue gains fully covered the increase in subsidy and operating expenses. However, EBITDA margin was flat at 43 percent. Capex was 66 percent higher at PHP 19.4 billion, as Globe continues its network and IT modernisation programmes.

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