UPDATE 1-BAE Systems H1 earnings up 14 pct, sees FY growth

July 30, 2010 By Leave a Comment

LONODN, July 29 (Reuters) – BAE Systems (BAES.L) reported a 14 percent rise in first-half earnings and said it expected to deliver growth in the full-year despite expected lower sales at its land vehicle unit and cuts in European defence budgets.

Europe’s largest defence contractor on Thursday posted underlying earnings before interest, taxes and amortisation of 1.11 billion pounds ($1.73 billion) on sales 9 percent higher at 10.64 billion pounds for the six months to the end of June.

The company, which on Wednesday signed a 500 million pounds deal to supply India with 57 Hawk jets, increased the interim dividend by 9 percent to 7 pence per share but said it “anticipates a challenging trading environment” ahead.

BAE wants to grow its customer support and services business to offset expected cuts in UK defence procurement as Britain moves to cut a massive budget deficit.

Shares in BAE, which have fallen 10 percent in the last three months on concerns about potential cuts to European defence budgets, closed at 317 pence on Wednesday, valuing the company at around 10.80 billion pounds.

Despite the looming cuts, BAE, which derives around a fifth of its sales from Britain, said it saw unprecedented levels of interest from Middle Eastern and Asian governments at last week’s Farnborough airshow. [ID:nLDE66K206]

(Reporting by Rhys Jones; Editing by Matt Scuffham)

($1=.6402 Pound)

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

Q2 2010 Quarterly Dividend and Q3 Timetable Announcement

July 30, 2010 By Leave a Comment

THE HAGUE, Netherlands, July 29, 2010 /PRNewswire-FirstCall/ — The Board of Royal Dutch Shell plc (“RDS”) today announced an interim dividend in respect of the second quarter of 2010 of US$0.42 per A and B ordinary share, equal to the US dollar dividend for the same quarter last year.

Dividends declared on A ordinary shares (“A shares”) will be paid by default in euro, although holders of A shares will be able to elect to receive dividend in pounds sterling. Dividends declared on B ordinary shares (“B shares”) will be paid by default in pounds sterling, although holders of B shares will be able to elect to receive dividend in euro. Dividends declared on American Depository Receipts (“ADRs”) will be paid in US dollars.

Details relating to the second quarter 2010 interim dividend

This dividend will be payable on September 8, 2010 to those members whose names are on the Register of Members on August 6, 2010. The shares will become ex-dividend on August 4, 2010.

It is expected that the dividends on the B shares will be paid via the Dividend Access Mechanism from UK-sourced income of the Shell Group.

Per ordinary share Q2 2010
RDS A shares (US$) 0.42
RDS B shares (US$) 0.42

Per ADR Q2 2010
RDS A ADRs (US$) 0.84
RDS B ADRs (US$) 0.84

Dividends on A shares will be paid, by default, in euro at the rate of EUR 0.3227 per A share. Holders of A shares who have validly submitted pounds sterling currency elections by July 28, 2010 will be entitled to a dividend of 26.89p per A share.

Dividends on B shares will be paid, by default, in pounds sterling at the rate of 26.89p per B share. Holders of B shares who have validly submitted euro currency elections by July 28, 2010 will be entitled to a dividend of EUR 0.3227 per B share.

Holders of A or B shares in ADR form will be entitled to a dividend of US$0.84 per ADR.

Taxation

Dividends on A shares will be subject to the deduction of Netherlands dividend withholding tax at the rate of 15%, which may be reduced in certain circumstances. Provided certain conditions are met, shareholders in receipt of A share dividends may also be entitled to a non-payable dividend tax credit in the United Kingdom.

Shareholders resident in the United Kingdom, receiving dividends on B shares through the Dividend Access Mechanism, are entitled to a tax credit. This tax credit is not repayable. Non-residents may also be entitled to a tax credit, if double tax arrangements between the United Kingdom and their country of residence so provide, or if they are eligible for relief given to non-residents with certain special connections with the United Kingdom or to nationals of states in the European Economic Area.

The amount of tax credit is 10/90ths of the cash dividend, the tax credit referable to the second quarter 2010 interim dividend of US$0.42 (26.89p or EUR 0.3227) is US$0.05 (2.99p or EUR 0.0359) per ordinary share and the dividend and tax credit together amount to US$0.47 (29.88p or EUR 0.3586).

Dividend reinvestment plan

The Royal Bank of Scotland N.V. (“RBS”) and Equiniti each have established a dividend reinvestment facility which enables RDS shareholders to elect to have their dividend payments used to purchase RDS shares of the same class as those already held by them. The dividend reinvestment plans (the “DRIPs”) are provided by RBS in respect of shares held through Euroclear Nederland and by Equiniti in respect of all other shares (but not ADRs). DRIPs for the ADRs (both Class A ADRs and Class B ADRs) traded on the NYSE are available through The Bank of New York Mellon.

Enquiries about the DRIPs, including how to elect to participate and information about the reinvestment mechanisms under the respective plans should, in the case of shareholders holding through Euroclear Nederland, be directed to their bank or broker and in the case of all other shareholders (other than holders of ADRs) to Equiniti. Enquiries relating to the DRIPs for ADRs (both Class A ADRs and Class B ADRs) should be made to The Bank of New York Mellon.

Scrip dividend programme

At the 2010 Annual General Meeting of the Company, shareholders approved a resolution authorising the Directors to offer ordinary shareholders (excluding any shareholder holding shares as treasury shares) the right to choose to receive extra ordinary shares instead of some or all of the cash dividend or dividends which may be declared or paid at any time after the date of that meeting and prior to May 18, 2015 (the “Scrip Dividend Programme”).

The Board intends to introduce the Scrip Dividend Programme in relation to the third quarter 2010 financial results.

Shareholders will be provided with full details of its terms and conditions and how to participate in September 2010. Full details of the Scrip Dividend Programme will be made available on http://www.shell.com/dividend.

Revised timetable for the third quarter 2010 interim dividend

The Board advises shareholders that the timetable for the third quarter 2010 interim dividend has been revised as a result of the intended introduction of the Scrip Dividend Programme.

Revised intended timetable for the third quarter 2010 interim
dividend:

Announcement date October 28, 2010

Ex-dividend date November 3, 2010

Record date November 5, 2010

Scrip reference share price announcement date November 10, 2010

Closing of scrip election and currency election November 26, 2010

Pounds sterling and euro equivalents announcement December 3, 2010
date

Payment date December 17, 2010

The revised intended dividend timetable for the third quarter 2010 interim dividend is also available on http://www.shell.com/dividend.

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

Nutreco: Excellent results for the first half of 2010: Strong increase in operating result (EBITA) to EUR 84 million

July 30, 2010 By Leave a Comment

EUR 2,250.5 million; an increase of 5.8% compared with the first half of
2009

* Strong increase in volume of Fish feed and Premix and feed specialties

* All business segments report better operating results compared with the first half of
2009

* 2010 interim dividend of EUR 0.50 in cash or shares

* For the full year 2010, Nutreco expects an increase of approximately 25% in EBITA
before exceptional items compared with 2009 (EUR 175.2 million)

Key figures
(EUR x million)
H1 2010 H1 2009 Change
Revenue from ‘continuing operations’ 2,250.5 2,127.7 5.8%
Operating result before exceptional items and amortisation (EBITA) 84.0 41.6 101.9%
Operating result from ‘continuing operations’ before amortisation (EBITA) 74.1 38.5 92.5%
Profit after tax from ‘continuing operations’ 40.4 13.7 194.9%
Basic earnings per share from ‘continuing operations’ (EUR) 1.13 0.36 213.9%
Interim dividend per ordinary share (EUR) 0.50 0.20 150.0%

150.0%

Wout Dekker, CEO Nutreco:

“We have had excellent first six months. The results are better than in the same period
last year for all business segments. These results, the recovery of the markets and our
good financial situation give us confidence for the future. We are also very pleased
with the composition and quality of our results. For the second half of the year, we
expect results in line with the very strong second half of 2009. For the full year this
will lead to an increase of approximately 25% in EBITA before exceptional items.”

All business segments report better operating results
“Our premix and feed specialties operations have very good results, with a growth in
volume and an improved product mix. Fish feed operations show strong growth in Norway
and we experience a recovery in the Chilean aquaculture sector. Our compound feed
operations in Europe reported business results in line with the trend of the last
quarters of 2009. The results in The Netherlands improved substantially compared with
the first half of 2009. In Spain the acquisition of Cargill’s compound feed operations
contributed to revenues. The integration and optimisation of factories is progressing
well. Our meat operations had good results, slightly better than in the first half of
2009.”

Focus on strengthening global position in Fish feed and Premix and feed specialties
“The recent acquisition of a fish and shrimp feed business in Vietnam is in line with
our strategy to further strengthen our position in feed for amongst others shrimp,
tilapia, barramundi, snapper and grouper, in countries of strategic importance. After
China and India, Vietnam is the world’s largest aquaculture producer. For Nutreco, the
acquisition is a good entry into the Vietnamese market and a basis for further growth.
Next to this acquisition Nutreco is investing in renewing and expanding its production
capacity. In March we announced the investment of EUR 20 million in upgrading and
expanding the fish feed factory in Australia. The investment will enable Skretting to
meet the growing demand for high-quality fish feed for salmon, trout, barramundi and
tuna in both Australia and New Zealand. Since 2001, the volume for fish feed in this
region has grown by 10% annually.
In April, Nutreco announced a EUR 6 million investment in upgrading and expanding the
production capacity of Selko, a producer of additives for animal nutrition. This
investment will enable Selko to meet the globally growing demand for alternatives to
antibiotics and for products that can contribute to controlling the development of
salmonella in animal nutrition, raw materials for animal nutrition and drinking water.

Nutreco remains focused on growth by innovations and we continue to execute our strategy
to further strengthen our global market position in Premix and feed specialties and Fish
feed by means of organic growth and acquisitions.”

Outlook

Barring unforeseen circumstances, Nutreco expects EBITA before exceptional items in the
second half of the year to be in line with the very strong second half of 2009 (EUR
133.6 million). For the full year 2010 this will result in an increase of approximately
25% in EBITA before exceptional items compared with 2009 (EUR 175.2 million).

Strategy

Nutreco will continue to focus on growth in animal nutrition and fish feed by means of:

* Focusing on geographical regions and markets with prospects for structural profitable
growth in countries such as Brazil, China, Russia and Vietnam;
* Participating in consolidation in countries where Nutreco has a leading position in
compound feed, such as Canada/North America, the Netherlands and Spain;
* Further strengthen our global market position in Premix and feed specialties and Fish
feed through independent growth and acquisitions;
* Implementing Nutreco’s innovation strategy.

Nutreco will publish a trading update on the third quarter of 2010 on 28 October 2010.

* * * * *

Nutreco

Nutreco is a global leader in animal nutrition and fish feed. Our advanced feed
solutions are at the origin of food for millions of consumers worldwide. Quality,
innovation and sustainability are guiding principles, embedded in the Nutreco culture
from research and raw material procurement to products and services for agriculture and
aquaculture. Experience across 100 years brings Nutreco a rich heritage of knowledge and
experience for building its future. Nutreco employs approximately 9,700 people in 30
countries, with sales in 80 countries. Nutreco is listed on the NYSE Euronext stock
exchange in Amsterdam and with annual revenues of EUR 4.5 billion in 2009.

www.nutreco.com http://www.nutreco.com/

For more information:

Jurgen Pullens, Director Investor Relations and Corporate Communications, Nutreco
Telephone: +31 (0)33 422 6134
Mobile: +31 (0)6 5159 9483
E-mail: jurgen.pullens@nutreco.com mailto:jurgen.pullens@nutreco.com

The full press release is attached in the pdf below

HUG#1434661

Excellent results for the first half of 2010

http://hugin.info/133565/R/1434661/380210.pdf

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

UPDATE 1-African Barrick cuts FY production guidance

July 28, 2010 By Leave a Comment

LONDON, July 27 (Reuters) – African Barrick Gold (ABG) (ABGL.L), which floated in London this year, has cut its full-year production guidance due to delays in accessing higher grade from its new Buzwagi mine in Tanzania.

It expects to produce 750,000-800,000 ounces of gold for the year, at a cash cost of $500-550 an ounce, down from its 800,000 to 850,000 ounce target.

ABG’s chief executive told Reuters in June that production this year would likely end up at the low end of its 800,000 to 850,000 ounce target after a slow ramp up at its new Buzwagi open pit mine. [ID:nLDE65L22D]

On Tuesday, the FTSE 100 miner said first-half attributable production was 356,208 ounces, up 23 percent year-on-year, at cash costs of $529 per ounce.

The miner reiterated that it expects higher grade primary sulphide ore to be increasingly mined in the second half and for production to rise at Buzwagi.

First-half net income jumped 217 percent from the year-earlier period to $99 million and the company said it plans to pay an interim dividend of 1.6 cents per share.

Shares in the FTSE 100 group closed on Monday at 550 pence, just below the IPO price. Gold prices XAU= rose 13 percent in the first half of 2010 to touch a record $1,264.90 an ounce in June on concern over euro zone sovereign debt levels. [GOL/]

The market has viewed the company, which has four producing gold mines in Tanzania, with some caution compared to its rivals and is looking for African Barrick to establish a track record of organic growth or make an acquisition elsewhere in Africa.

ABG, spun off on March 19 from its Canadian parent Barrick Gold Corp (ABX.TO), the world’s largest gold miner, after raising 581 million pounds via an initial public offering at 575 pence a share.

Barrick Gold will announce its second-quarter results on Thursday. [ID:nN22125838]

(Reporting by Julie Crust; editing by Rhys Jones)

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

UPDATE 1-Patsystems H1 profit up, upbeat on outlook

July 28, 2010 By Leave a Comment

(Reuters) – British software firm Patsystems Plc (PTS.L) posted a 37 percent rise in first-half adjusted pretax profit, helped by sales growth in Europe and Asia, and said it was confident of achieving its targets for 2010.

The AIM-listed company, which provides software for electronic trading and exchange systems, also raised its interim dividend by 38 percent to 0.2 pence.

“Our continued growth in emerging markets, a strong sales pipeline and this year’s deployment of our new global ASP (application provider service), XConnect, will support sustained growth in 2011 and beyond,” Chairman Richard Last said in a statement.

For the six months ended June 30, pretax profit before items rose to 1 million pounds from 752,000 pounds last year. Revenue grew 6 percent to 10 million pounds.

Patsystems shares closed at 24.25 pence on Monday on the London Stock Exchange. (Reporting by Tresa Sherin Morera in Bangalore; Editing by Vinu Pilakkott)

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

UPDATE 1-SThree profit falls; makes strong start to H2

July 20, 2010 By Leave a Comment

July 19 (Reuters) – British recruiter SThree Plc (STHR.L) posted a 35 percent drop in first-half adjusted pretax profit, due to a reduction in permanent placements, but said it made a strong start to the second half as some of its markets started improving.

The staffing company, which counts finance, oil and gas, and pharma recruitment among its niche areas, said although some markets staged a robust recovery, others were still subdued by normal standards.

“Having a strong sense of where the market is heading remains difficult, but on the basis of the currently available data we remain cautiously optimistic,” Chief Executive Russell Clements said in a statement.

For the six months ended May 30, the company said its pretax profit before exceptional items fell to 7.3 million pounds ($11.2 million) from 11.2 million pounds last year.

Revenue fell 21 percent to 221.7 million pounds, while permanent placements fell 14 percent to 2,842.

The company maintained its interim dividend at 4 pence.

SThree shares closed at 293 pence on Friday on the London Stock Exchange. ($1=.6541 POUND) (Reporting by Tresa Sherin Morera in Bangalore; Editing by Unnikrishnan Nair)

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

UPDATE 1-Low & Bonar profit rises; keeps upbeat FY view

July 14, 2010 By Leave a Comment

July 13 (Reuters) – British specialist materials group Low & Bonar Plc (LWB.L) posted a 31 percent rise in adjusted first-half pretax profit, helped by growth in transport and leisure sectors, and kept an upbeat full-year trading outlook.

The company, which supplies yarn, fabric and fibre to end-markets like civil engineering, transport, sport and leisure, said it would pay an interim dividend of 0.5 pence.

“The much improved sales pattern established throughout the second quarter, has continued into the start of the second half,” Chief Executive Steve Good said in a statement.

In June, the company had forecast full-year trading ahead of its own expectations.

Analysts on average expect Low & Bonar to post a full-year pretax profit of 18 million pounds ($27.1 million) on revenue of 329.4 million pounds, according to Thomson Reuters I/B/E/S.

For the six months to end-May, the company reported a pretax profit of 6.7 million pounds before amortisation and one-time items, compared with 5.1 million pounds a year ago.

Revenue rose 11.7 percent to 155.8 million pounds.

Low & Bonar lowered its net debt by almost 32 percent to 67.4 million pounds at the end of the period.

Shares of the company closed at 43 pence on Monday on the London Stock Exchange. ($1=.6655 Pound) (Reporting by Aditi Samajpati in Bangalore; Editing by Roshni Menon)

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

UPDATE 1-Charlemagne AuM fall in first half

July 10, 2010 By Leave a Comment

July 9 (Reuters) – Emerging markets equity specialist Charlemagne Capital (CHAR.L) said on Friday it had posted a sharp fall in assets under management in the first half of the year due to negative markets and outflows.

The boutique said in a statement that assets under management stood at $2.8 billion at the end of June, a 16 percent increase compared with the same period last year but a 9.5 percent decline since the beginning of the year.

The result is in line with a forecast issued by Singer Capital Markets.

In March Charlemagne said it had seen a recovery in client money flows at the beginning of the year. [ID:nLDE62A069] but since March emerging markets indices fell by around 8 percent.

The group said it had experienced “modest net outflows” in the first half but added that their OCCO hedge fund range was “attracting strong and continuing inflows”, while the group had recommenced fund raising for property specialist investments.

Broker Singer said outflows would not be “substantial”. Net management fees were up 24 percent on same period last year and 1 percent on the previous six months at $10.4 million compared to $8.4 million last year.

Charlemagne said it will pay ordinary and a special interim dividend for the first half of the year, adding further details would be given when the interim financial results are published in September. (Reporting by Cecilia Valente, Editing by Raji Menon)

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

St Modwen swings to pretax profit, reinstates interim dividend

July 6, 2010 By Leave a Comment

July 5 (Reuters) – St Modwen Properties Plc (SMP.L) swung to a first-half pretax profit, helped by a significant improvement in property prices, and said it was confident of a continued improvement in both net asset value and profit.

The British real-estate developer, which scrapped its interim dividend last year, also resumed the payout with an interim dividend of 1 pence per share.

For the six months ended May 31, the company posted a pretax profit of 26.7 million pounds ($40.58 million), compared with a loss of 98.3 million pounds in the year-ago period. Trading profit increased 22.1 percent to 8.3 million pounds.

Revenue climbed 35 percent to 58.3 million pounds, while net asset value (NAV) rose 6.8 percent to 214 pence per share since the year-end.

Shares of St Modwen were up 4.2 percent at 179.3 pence at 0741 GMT on Monday on the London Stock Exchange. ($1=.6579 Pound) (Reporting by Anirban Sen in Bangalore; Editing by Maju Samuel)

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , ,

UPDATE 1-Porvair swings to profit; raises FY profit view

July 1, 2010 By Leave a Comment

(Reuters) – British filtration specialist Porvair (PORV.L) posted a first-half pretax profit and raised its profit expectations for the full year, citing steady demand.

The company, which makes filtration and separation equipment for the aviation, energy, industrial process and environmental laboratories businesses, said on Tuesday it saw healthy order books for the second half.

For the six months ended May 31, pretax profit was 1.3 million pounds, compared with a loss of 0.6 million pounds last year. Revenue grew 10 percent to 29.7 million pounds.

The company maintained its interim dividend at 1.0 pence.

On June 2, the company said it expected first-half results to be well ahead of 2009 and saw revenue growth for the period exceeding 10 percent at constant currency rates. [ID:nSGE65109G]

Porvair shares closed at 63.5 pence on Monday on the London Stock Exchange. (Reporting by Tresa Sherin Morera in Bangalore; Editing by Vinu Pilakkott)

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , ,

Pernod Ricard: Payment of interim cash dividend of € 0.61 per share on 7 July 2010

June 26, 2010 By Leave a Comment

PARIS–(Business Wire)–
Regulatory News:

Press release – Paris, 25 June 2010

The Board of Directors, meeting on 24 June under the chairmanship of Patrick
Ricard, decided to distribute an interim cash dividend of €0.61 per share for
the current 2009/10 financial year. The ex-dividend date will be Friday 2 July
and the interim dividend will be paid on Wednesday 7 July 2010.

Pernod Ricard (Paris:RI) traditionally pays out an interim dividend equivalent
to 50% of the dividend of the previous year. In 2008/09, a year marked by the
global crisis, a dividend exceptionally reduced to € 0.50 per share was paid.

The current interim dividend was thus determined as being half the dividend paid
in respect of the 2007/08 financial year, adjusted for both the preferential
subscription rights granted as part of the capital increase of 12 May 2009 and
the bonus share issue of 16 November 2009.

As previously announced, the Group intends to resume from this year its past
policy of distributing about one third of Net Profit from Recurring Operations.
The dividend will be submitted by the Board of Directors for approval by the
Annual General Meeting of shareholders to be held on Wednesday 10 November next.
The final dividend will be paid after the AGM.

Shareholders` calendar: 2009/10 Full-year trading update: Thursday 22 July 2010
after close of trading.

About Pernod Ricard

Pernod Ricard is the world`s co-leader in Wines and Spirits with consolidated
sales of € 7,203 million in 2008/09. Created by the merger of Pernod and Ricard
(1975), the Group has undergone sustained development, based on both organic
growth and acquisitions: Seagram (2001), Allied Domecq (2005) and Vin&Sprit
(2008).

Pernod Ricard owns one of the most prestigious brand portfolios in the sector:
Absolut Premium Vodka; Ricard pastis; Ballantine`s, Chivas Regal, Royal Salute
and The Glenlivet Scotch whiskies; Jameson`s Irish Whiskey; Martell cognac;
Havana Club rum; Beefeater gin; Kahlúa and Malibu liqueurs; Mumm and
Perrier-Jouët champagnes; and Jacob`s Creek, Montana, Campo Viejo and Graffigna
wines.

The Group believes in a decentralised organisation, with 6 Brand Owners and 70
Distribution Companies established in each key market, and employs a workforce
of around 19,000 people. Pernod Ricard is strongly committed to a sustainable
development policy and encourages responsible consumption of its products.

Pernod Ricard`s strategy and ambitions are founded on 3 key values that guide
its development: entrepreneurial spirit, mutual trust and a strong sense of
ethics.

Pernod Ricard is listed on the NYSE Euronext exchange (Ticker: RI; ISIN code:
FR0000120693) and is a member of the CAC 40 index.

To read more, please go to www.pernod-ricard.com

Pernod Ricard
Olivier CAVIL, +33 (0)1 41 00 40 96
Communication VP
or
Denis FIEVET, +33 (0)1 41 00 41 71
Financial Communication – Investor Relations VP
or
Florence TARON, +33 (0)1 41 00 40 88
Press Relations and External Communication Manager

Copyright Business Wire 2010

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

UPDATE 1-Malaysia’s Maxis posts Q1 profit on new adds, data

June 1, 2010 By Leave a Comment

KUALA LUMPUR, May 31 (Reuters) – Malaysia’s top mobile phone network operator Maxis (MXSC.KL) swung to a profit in the first-quarter as it added new subscribers and as customers spent more on mobile data such as its internet services.

Maxis, which controls about 40 percent of the country’s mobile phone market, said it is “optimistic” about its outlook as it expects further gains in subscriptions and data revenues such as its broadband mobile business.

Maxis posted a first-quarter net profit of 552 million ringgit ($167.5 million) compared with a proforma loss of 42 million ringgit a year ago. The company said it will pay out an interim dividend of 8 Malaysian cents a share for the first quarter.

First-quarter net profit accounted for 22.6 percent of the 2.44 billion ringgit consensus estimate for the full-year.

Maxis and smaller rivals Axiata (AXIA.KL) and Digi.com (DSOM.KL) dominate Malaysia’s mobile phone market. Mobile subscriptions in the country stood at about 25.8 million as of end-June, 2009.

Maxis was listed on the local stock exchange last November following a restructuring of Maxis Communications by major shareholders Binariang GSM and Saudi Telecom (7010.SE).

Maxis Communications is a regional player with telco assets in India and Indonesia while Maxis focuses on just the Malaysian market.

Analysts said the single-market model limits Maxis’ growth prospects when compared to Axiata, which has operations in fast-growing markets like India and Indonesia.

But Maxis is a good yield play as it promises to pay out 75 percent of its earnings, said the analysts.

Shares in Maxis have fallen 2.4 percent so far this year, compared to the 3 percent gain for Digi.com and 21 percent gain in Axiata. The wider market was largely flat during the same period.

Prior to the earnings release, 12 of 23 analysts tracked by Thomson Reuters I/B/E/S rated Maxis as a hold, with five calling it as an underperform or a sell.

Maxis currently trades at 16.1 times 2010 earnings, compared to the telecom industry’s 16.62 times, Thomson Reuters data showed.

Digi.com, the country’s smallest player with no regional presence, trades at 16.39 times. Axiata trades at 15.79 times.

(Reporting by Soo Ai Peng; Editing David Chance)

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

Thai Hot Stocks-Political unrest hurts market; SVI up

April 9, 2010 By Leave a Comment

BANGKOK, April 8 (Reuters) – Thailand’s benchmark stock
index .SETI was down 0.93 percent at 805.08 at 0405 GMT on
Thursday after the government declared a state of emergency in
the capital. [ID:nSGE636016]

However, other Southeast Asian markets were also lower and
Thailand was moving broadly in line with them.

“The rising tensions will dampen market sentiment in the
short term, but we expect the SET to continue to move higher as
investors focus on strong first-quarter earnings growth and the
global economic recovery,” broker Kim Eng Securities said.

“In April 2009, the Thai equity market continued to rally
despite the state of emergency at that time. Fund flows into
the SET should continue,” it said.

Stocks on the move included:

BANPU (BANP.BK), SIAM COMMERCIAL BANK (SCB.BK) DOWN

The biggest coal miner, Banpu, was down 1.23 percent at 642
baht while Siam Commercial Bank, the third biggest bank, fell
1.9 percent to 91 baht. The two stocks go ex-dividend on
Friday.

Banpu is paying an interim dividend of 8 baht for the
second half of 2009. Siam Commercial Bank will pay a dividend
of 2.5 baht for the full year of 2009.

0407 GMT

SVI SVI.BK BUCKS TREND

The provider of electronics manfacturing services rose 4.8
percent to 2.2 baht, having hit 2.26 baht, the highest since
Oct. 15, as analysts rated the stock a ‘buy’, citing its cheap
valuations and probable good earnings growth this year.

0408 GMT

– For Thai/Myanmar/Indochina top news click [ID:nTOPTH]

– For Thailand’s IPO diary click on

– For Thailand’s stock exchange news click on [TH-SET]

– For Thailand corporate earnings: [TH-RES-RTRS]

– For Thailand economic forecast: [POLL-ECI-TH-RTRS]
($1=32.35 Baht)
(Reporting by Viparat Jantraprap; Editing by Alan Raybould)

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

Myer reveals higher first-half profit

March 12, 2010 By Leave a Comment

The department store chain, Myer has reported a 38 per cent rise in its first-half profit.

For the six months to the 23rd of January, the retailer made an after-tax profit of $115 million.

That has beaten market expectations and compares to the company’s $83 million dollar profit, for the same period the year before.

Myer says the result was driven by significant cost cutting and increased sales of high-end designer label brands.

But the retailer remains cautious about the outlook for the second half, because of the lack of stimulus payments from the Federal Government and the likelihood of more interest rate rises.

Myer cut its full-year sales growth forecast to 1-2 per cent but is confident it can achieve its forecast for 10.7 per cent growth in pre-tax earnings this year, to $261 million.

Myer will pay an interim dividend of 10.5 cents per share.

Myer’s shares have been under-performing, since listing on the Australian Securities Exchange in November last year.

They closed yesterday at $3.47, which is 15 per cent below their issue price.

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , ,

NTPC’s annual profit up Rs.786 crore

May 22, 2009 By Leave a Comment

New Delhi, May 22 (IANS) The state-owned power utility NTPC Ltd, formerly National Thermal Power Corp, posted a net profit after tax of Rs.8,201 crore in 2008-09 against Rs.7,415 crore netted the last fiscal, an increase of Rs.786 crore, the company announced Friday.

Total income increased from Rs.40,018 crore 2008-09 to Rs.45,273 crore the previous fiscal, NTPC said in a regulatory statement.

Its net profit for the quarter ended March 31, 2009 was also up at Rs.2,113.4 crore, as compared to the near Rs.1,340 crore for the corresponding quarter the year before.

Total income for the quarter increased to Rs.12,481.5 crore from Rs.11,487.5 crore in the like period the previous fiscal.

The company said its board has recommended a final dividend at 8 percent of the paid-up equity capital in addition to the 28 percent interim dividend paid in February.

Filed Under: Business News Tagged With: , , , , , , , , ,

STC presents dividend cheque to Kamal Nath

March 20, 2009 By Leave a Comment

New Delhi, Mar 20 (ANI): N.K. Mathur, Chairman and Managing Director, The State Trading Corporation of India Ltd. (STC) has presented a dividend cheque of Rs.13.65 crore to Union Commerce and Industry Minister Kamal Nath here today.

STC has paid an interim dividend of 25 per cent for 2008-09 on its equity capital to the Government of India.

Speaking on the occasion, Mathur informed that payment of interim payment was being made in view of overall good performance by STC during April-December 2008, which was achieved in spite of global meltdown leading to severe liquidity crunch.

“The total turnover of STC during this period grew by 29 per cent and hoped that STC will not only be able to sustain the current level of performance, but also achieve a significant rise in its turnover and profitability in the coming years,” he added. (ANI)

Filed Under: Business News Tagged With: , , , , , , , , , , , , , , , , , , , ,