Tuesday, 22 Sep 2020

Uniper H1 Net Profit Down, Adj. EBITDA Rises – Quick Facts

Mannatech Q2 Profit Down – Quick Facts

Mannatech Inc. (MTEX) reported that its second-quarter net income declined to $1.1 million, or $0.47 per share, from $2.0 million, or $0.81 per share in the second quarter of 2019.

Income from operations decreased to $1.1 million for the second quarter of 2020, from $2.0 million in the same period in 2019.

Quarterly net sales were $37.6 million, a decrease of $3.1 million or 7.5% from the prior year.

Dr.Reddy’s launches generic version of Ciprodex

The newly launched product will be used to treat ear infections

Pharma major Dr. Reddy’s Laboratories on Tuesday said it has launcheda generic version of Ciprodex (Ciprofloxacin 0.3% and Dexamethasone 0.1%) Otic Suspension, USP, in the U.S. market.

A therapeutic equivalent generic version of Ciprodex (ciprofloxacin 0.3% and dexamethasone 0.1%) Otic Suspension, the product is indicated for treatment of bacterial ear infections in children. Ciprodex is a trademark of Bayer AG.

The launch follows the U.S. Food and Drug Administration (USFDA) approval for its product, Dr. Reddy’s said. Ciprodex brand had U.S. sales of approximately $453 million MAT for the most recent twelve months ended June 2020, the company said citing IQVIA Health numbers.

“We are pleased to launch this first-to-market generic product, illustrating our continued commitment to bring affordable generic medicines to market for patients,” said Marc Kikuchi, CEO, North America Generics, Dr. Reddy’s Laboratories.

“This product demonstrates that we are actively expanding the depth of our portfolio with our first otic suspension dosage form,” he said. Dr. Reddy’s Ciprofloxacin 0.3% and Dexamethasone 0.1% Otic Suspension, USP, is available as 7.5 mL fill in a 10 mL bottle, a release said.

Aurubis Q3 Profit Rises; Confirms FY Outlook

Aurubis Group (AIAGY.PK,AIAGF.PK) reported that its third-quarter net income rose to 33 million euros from 17 million euros in the previous year. On a per basis, net income was 0.74 euros, up from 0.38 euros in the prior year.

Operating earnings before taxes or EBT for the quarter grew to 42 million euros, from 22 million euros in the year ago quarter, reflecting a substantially higher concentrate throughput, especially at Pirdop site, with lower treatment and refining charges for copper concentrates due to market factors.

Quarterly revenues declined to 2.88 billion euros from 3.02 billion in the previous year.

Aurubis still expects an operating EBT to be between 185 million euros and 250 million euros for fiscal year 2019/20.

The company said it remains cautiously optimistic about the rest of the fiscal year.

The company expects a reduced copper concentrate supply with treatment and refining charges at a low level until the end of fiscal year 2019/20. The spread of COVID-19 and the related production limitations at mines could lead to a lower ongoing supply of copper concentrates.

In addition, Aurubis expects a continued surplus on the international sulfuric acid market for the fourth-quarter of 2019/20.

Fall in UK employment biggest since 2009

LONDON, Aug 11 (Reuters) – The number of people in employment in Britain fell by 220,000 in the three months to June, the most since 2009, as the coronavirus crisis hit the labour market, Office for National Statistics said.

The unemployment rate held at 3.9% but that reflected an increase in people who had given up looking for work and who were therefore not consider to be unemployed. (Reporting by William Schomberg, editing by David Milliken)

Rupee surges 8 paise to 74.82 against U.S. dollar in early trade

The dollar index fell 0.06% to 93.52.

The rupee appreciated 8 paise to 74.82 against the U.S. dollar in early trade on August 11 tracking weakness in the greenback and gains in the domestic equity market.

The local unit opened at 74.83 against the U.S. dollar, then touched 74.82, up 8 paise over its previous close of 74.90 against the American currency.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.06% to 93.52.

Forex traders said, gains in the domestic currency were supported by foreign fund inflows into domestic equity and debt markets.

Foreign institutional investors were net buyers in the capital market as they purchased shares worth ₹302.88 crore on August 10, according to provisional exchange data.

Market participants will track Index of Industrial Production (IIP) number scheduled to be released later in the day for further cues, they said.

“Asian currencies were trading stronger against the U.S. dollar this morning and could lend support. However, worsening strains between Washington and Beijing over Hong Kong could limit the appreciation bias in currencies,” Reliance Securities said in a research note.

Meanwhile, the 30-share BSE benchmark Sensex was trading 324.51 points higher at 38,506.59 and the broader NSE Nifty rose 84 points to 11,354.15.

Brent crude futures, the global oil benchmark, rose 0.47% to $45.20 per barrel.

SoftBank reports 12% rise in Q1 net profit, doesn't disclose operating profit

TOKYO, Aug 11 (Reuters) – SoftBank Group Corp on Tuesday reported a 12% rise in net income in the first quarter but did not report operating profit, saying it was “not useful” as a measure of the conglomerate’s investment performance.

Net profit was 1.3 trillion yen ($12.3 billion) in the April-June quarter, compared with 1.2 trillion yen in the same period a year earlier.

($1 = 106.1000 yen)

Uniper H1 Net Profit Down, Adj. EBITDA Rises – Quick Facts

German energy generation and trading company Uniper SE, a subsidiary of E.ON SE (EONGY.PK), reported Tuesday that its first-half net income declined to 677 million euros from last year’s 921 million euros.

Earnings per share were 1.75 euros, down from 2.40 euros a year ago. Adjusted net income was 527 million euros, compared to prior year’s 189 million euros.

Adjusted EBIT was 691 million euros, higher than 308 million euros a year ago. Adjusted EBITDA grew to 1.01 billion euros from prior year’s 657 million euros.

Sales in the first half plunged to 19.98 billion euros from 33.74 billion euros a year ago.

Electricity sales fell to 266.6 billion kWh from 316.5 billion kWh last year. Gas volume sold grew to 1,137.6 billion kWh from 1,105.2 billion kWh a year ago.

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