BBVA Group FY21 Adj. Profit Rises – Quick Facts

BBVA Group (BFR) reported that its fiscal 2021 net attributable profit was 4.65 billion euros, up 3.6 times from 1.31 billion euros, prior year. Earnings per share was 0.67 euros compared to 0.14 euros. Excluding non-recurring impacts, net attributable profit was 5.07 billion euros, up 85.7%, due to the positive evolution of revenues and lower loan-loss provisions. Adjusted earnings per share was 0.71 euros compared to 0.35 euros.

Fiscal 2021 net interest income rose 0.6 percent to 14.69 billion euros. At constant exchange rates, net interest income was up 6.1%. Fiscal 2021 net fees and commissions also increased substantially to 4.77 billion euros, up 19.8 percent. Gross income rose by 9.7 percent, reaching 21.07 billion euros.

In 2021, BBVA added 8.7 million new customers, up 47 percent. Of this amount, 40 percent were added through digital channels, for the fiscal year. The company noted that digital sales now account for 73 percent of total units, while digital customers represent 69.4 percent and mobile ones account for 66 percent.

BBVA will pay a total dividend per share of 0.31 euros for 2021.

‘And Just Like That’ Season Finale Recap: Stiletto on the Other Foot

Carrie and Miranda trade places. And some burning questions are put to rest, along with the ashes of an all-consuming love.

By Ali Trachta

5 Things to Do This Weekend

Our critics and writers have selected noteworthy cultural events to experience virtually and in person in New York City.

NEC Corp. 9-month Profit Declines – Quick Facts

NEC Corp. (NIPNF.PK) reported net profit to owners of parent of 24.9 billion yen for the nine-month period ended December 31, 2021, down 54.3 percent from last year. Earnings per share was 91.51 yen compared to 204.02 yen. Adjusted basic earnings per share was 162.44 yen compared to 238.25 yen.

For the nine-month period ended December 31, 2021, revenue was 2.10 trillion yen, up 2.5 percent from prior year.

For the year ending March 31, 2022, the company estimates: adjusted basic earnings per share of 341.29 yen; and revenue of 3.0 trillion yen.

PotlatchDeltic Corp. Q4 Profit Decreases, misses estimates

PotlatchDeltic Corp. (PCH) reported a profit for fourth quarter that decreased from the same period last year and missed the Street estimates.

The company’s bottom line came in at $39.2 million, or $0.58 per share. This compares with $100.0 million, or $1.48 per share, in last year’s fourth quarter.

Excluding items, PotlatchDeltic Corp. reported adjusted earnings of $39.9 million or $0.59 per share for the period.

Analysts on average had expected the company to earn $0.62 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 26.4% to $248.4 million from $337.4 million last year.

PotlatchDeltic Corp. earnings at a glance (GAAP) :

-Earnings (Q4): $39.2 Mln. vs. $100.0 Mln. last year.
-EPS (Q4): $0.58 vs. $1.48 last year.
-Analyst Estimates: $0.62
-Revenue (Q4): $248.4 Mln vs. $337.4 Mln last year.

Cranswick Buys Dry Pet Food Producer Grove Pet Foods; Terms Not Disclosed

UK food producer Cranswick plc (CWK.L) announced Monday that it has acquired dry pet food producer Grove Pet Foods Limited. The financial terms of the deal were not disclosed.

Grove Pet Foods is a producer of dry dog food for several brands under private label relationships. Its own brands include Vitalin (natural) and Alpha Feeds (working dog). The business operates predominantly from a purpose-built freehold facility in Lincolnshire and employs a total workforce of approximately 100.

John Walgate, Managing Director, will remain with and continue to lead the business.

Adam Couch, Chief Executive Officer, said, “This acquisition represents a platform for future growth in the attractive UK pet food market and diversification into this complementary category for Cranswick. The existing facility has capacity and a footprint for further expansion…. The combined business will benefit from vertical integration opportunities within the group and particularly our fresh poultry and pork businesses.”

Thumbs up or thumbs down? Rate Sitharaman’s 4th Budget!

A push for infrastructure,  introduction of 30 per cent tax on transfer or sale of digital assets, a new digital rupee, cut in import duty on gemstones and diamonds were among the highlights of Finance Minister Nirmala Sitharaman’s Budget 2022, presented in the Lok Sabha on Tuesday.

• Union Budget 2022: Complete Coverage

Sitharaman, however, did not tinker with the personal income tax rates in her fourth Budget.

• Highlights of Sitharaman’s Budget 2022

While the Bharatiya Janata Party has naturally hailed the Budget, with Home Minister Amit Shah calling it ‘visionary’, the Opposition has accused Sitharaman and Prime Minister Minister Narendra Modi of “betraying the country’s salaried and middle classes” by not announcing any relief measures for them in the Union Budget.

So how do you rate the Modi government’s budget which comes ahead of the crucial five-state elections? Does it meet your expectations? Or do you feel let down? Thumbs up, or thumbs down?