Sunday, 12 May 2024

IAG H1 Profit Down, Revenue Up; Backs FY Profit View – Quick Facts

Incredibly Self-Involved ‘Trump Eulogies’ Trends On Twitter Thanks To George Conway

Republican gadfly George Conway has launched yet another hilarious Twitter trend, this time mocking Donald Trump’s reportedly narcissistic eulogy for his late father, Fred Trump. 

Conway, husband of White House counselor Kellyanne Conway, linked on Twitter to a 2017 story in Rolling Stone that claimed Trump’s dad reinforced his son’s self-involvement with the message “you are a king” and also urged him to “be a killer.” At his dad’s funeral in 1999, Trump “used the time to talk about his own accomplishments and to make it clear that, in his mind, his father’s best achievement was producing him, Donald,” according to the magazine.

Critical “Trump Nation” biographer Tim O’Brien got in on Conway’s game with his own take on “Trump Obits,” but the two president-bashers finally settled on “Trump Eulogies” and a Twitter trend was born.

Conway is on a roll. Last month he launched “Trump Greeting Cards” after he suggested that Trump’s next career could be creating greeting cards for “sub-literate sociopaths.” Earlier this week he helped fuel the “Lost Trump History” Twitter trend after the president claimed — without a scintilla of evidence — that he was on the scene with first responders after the 9/11 terrorist attacks in Manhattan.

Here’s the latest, with Twitter wags imagining Trump speaking at someone’s funeral:

Toyota Motor Corp. Q1 Net Income Rises; Revises Financial Forecast

Toyota Motor Corp. (TYT.L,TM) reported that its first-quarter net income to company increased to 682.9 billion yen from 657.3 billion yen, prior year. Operating income increased to 741.9 billion yen from 682.6 billion yen.

First-quarter net revenues were 7.6460 trillion yen, an increase of 3.8 percent. Consolidated vehicle sales totaled 2,303,495 units, an increase of 67,364 units from last year.

For the fiscal year ending March 31, 2020, the company now forecasts consolidated net revenue of 29.5 trillion yen, operating income of 2.4 trillion yen, income before income taxes of 2.56 trillion yen, and net income of 2.15 trillion yen.

TMC Operating Officer Kenta Kon said: “There is a 180 billion yen negative impact relating to the changes of FOREX rate assumptions. In order to offset such impact even slightly, we plan on an additional 25 billion yen positive effect of profit improvement activities through cost reductions and reductions in expenses.”

Based on the latest sales trends worldwide, the company has not revised its fiscal year consolidated vehicle sales forecast from 9.00 million units.

Ferrexpo H1 Profit Climbs On Higher Sales Volume; Doubles Dividend

Ferrexpo plc (FXPO.L), a Swiss iron ore company with assets in Ukraine, reported Friday that its first-half profit after tax climbed 78 percent to $270 million from last year’s $152 million.

Earnings per share were 45.8 US cents, higher than 25.8 US cents in the prior year.

Underlying EBITDA grew 59 percent from last year to $372 million. Underlying EBITDA margin improved 9 percentage points to 47 percent.

Revenues went up 28 percent to $787 million from $617 million last year, driven by higher iron ore fines prices and an increase in sales volumes.

Total pellet production increased 5 percent to 5.35 million tonnes, and sales volumes increased 4 percent to 4.99 million tonnes.

Further, the company declared interim ordinary dividend of 6.6 US cents, double than last year’s 3.3 US cents.

Looking ahead, Steve Lucas, Non-Executive Chairman, said, “Currently steel demand is muted in some regions reflecting increased raw material costs and weaker end-user demand. The Group, however, has the ability to deploy tonnage to other markets to offset any regional weakness. Overall pricing remains attractive compared to historic levels.”

Campbell To Sell Arnott’s, Certain International Operations To KKR For $2.2 Bln

Campbell Soup Co. (CPB) on Friday announced its agreement to sell Arnott’s and certain Campbell International operations to investment firm KKR & Co. L.P. (KKR) for an enterprise value of approximately $2.2 billion.

The transaction is expected to close within the next six months, subject to customary closing conditions.

Under the stock and asset purchase agreement, KKR will buy Campbell portfolio that includes Australian biscuit brand Arnott’s, as well as Campbell’s simple meals and snacking brands in markets including Australia, New Zealand, Indonesia, Malaysia, Singapore, Hong Kong and Japan. KKR will also buy Campbell International’s manufacturing operations in Australia, Indonesia and Malaysia.

Under the deal terms, KKR and Campbell will enter into a long-term licensing arrangement for the exclusive rights to use certain Campbell brands in Australia, New Zealand, Malaysia and other select markets in Asia Pacific, Europe, the Middle East and Africa. These brands include Campbell’s, Swanson, V8, Prego, Chunky and Campbell’s Real Stock.

In early July, Campbell Soup signed a definitive agreement to sell Kelsen Group, part of Campbell International, to a Ferrero affiliated company for $300 million.

Mark Clouse, Campbell’s President and CEO, then said that the sale supports its strategy to focus on North America where it has iconic brands and strong market positions, while reducing debt.

IAG H1 Profit Down, Revenue Up; Backs FY Profit View – Quick Facts

International Consolidated Airlines Group (IAG.L) reported Friday that first-half profit was 806 million euros, down 42.8 percent from 1.41 billion euros last year.

Basic earnings per share were 40.6 euro cents, down 40.6 percent from 68.3 euro cents a year ago. The prior year’s adjusted earnings per share were 803 million euros.

Operating profit was 1.10 billion euros, down from 1.74 billion euros a year ago.

Total revenue, however, increased 7.9 percent to 12.09 billion euros from last year’s 11.21 billion euros.

Passenger revenue grew 7.2 percent to 10.65 billion euros.

Capacity, in terms of available seat kilometres, increased 5.7 percent to 163.43 billion ASK, and passenger revenue per ASK increased 1.3 percent to 6.52 euro cents.

Looking ahead, IAG continues to expect its 2019 operating profit before exceptional items to be in line with 2018 pro forma.

Passenger unit revenue is expected to be flat at constant currency and non-fuel unit cost is expected to improve at constant currency.

The company expects passenger unit revenue at constant currency to improve for the remainder of the year.

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