3Q earnings

SJM gets boost from mass-market

Macau casino operator SJM posted a 41.2 per cent jump in net profit for the third quarter, even though its gaming revenue fell 0.9 per cent year on year as mainland tourists tightened their belts.

Friday, 16 November, 2012, 2:47am

Analysts bearish on PetroChina earnings growth

PetroChina is losing the support of analysts who say earnings growth at Asia's biggest oil producer is stunted by its unprofitable natural gas imports.

14 Nov 2012 - 4:57am

Coal miner SouthGobi to cut staff after posting US$55m net loss

Coal trucks leave the SouthGobi Resources mine in Ovoot Tolgoi, Mongolia. Photo: Bloomberg

SouthGobi Resources swung to a net loss of US$54.56 million in the third quarter from a net profit of US$55.92 million in the period last year, while the mining firm's revenue plunged 94.5 per cent to US$3.34 million in the quarter.

14 Nov 2012 - 3:18am

National pension fund raises investment in mainland market

China's national pension fund has increased its A-share purchases as part of efforts to help stabilise the market, while cutting H-share holdings which have begun trading at a premium to their mainland-listed counterparts.

9 Nov 2012 - 3:59am

HSBC to dispose of non-core assets in bid to cut costs

HSBC says it achieved cost savings of US$500 million in the third quarter. Photo: AFP

HSBC says it will continue to save costs by disposing of non-core businesses and focus on lending business in emerging markets, especially China.

The lender's underlying profit before tax rose 125 per cent to US$5 billion in the third quarter but was down 51 per cent on a reported basis, mainly because of an increase in the market value of the bank's own debt.

6 Nov 2012 - 4:24am

Sands share of Macau revenue rises to 19pc

Deutsche Bank expects Sands China's share of the Macau gaming market to rise from 19.3 per cent to 23 per cent by 2014. Photo: Reuters

Sands China is expected to build a bigger stake in Macau's gaming market after gaining market share and posting better-than-expected profits in the third quarter.

3 Nov 2012 - 3:22am

Singapore targets UBS over Libor

More authorities are conducting investigations into whether UBS and other banks tried to manipulate rates.

UBS is under investigation in Singapore along with other banks for possible manipulation of Libor and other benchmark rates, the Swiss bank said yesterday.

31 Oct 2012 - 3:11am

Baidu expects slower earnings growth in December quarter

Baidu, the leading internet search services provider on the mainland, expects to record slower growth this quarter amid a sluggish economy.

The company yesterday forecast revenue in the quarter to December to be between 6.15 billion yuan (HK$7.64 billion) and 6.34 billion yuan, representing a 37.6 to 41.8 per cent year-on-year rise.

31 Oct 2012 - 4:12am

Better loan performance sees ICBC profit rise 14.9pc

ICBC profit rises 14.9 per cent on better loan results.

Industrial and Commercial Bank of China (ICBC), the world's largest bank by assets, has posted a forecast-beating 14.9 per cent rise in third-quarter earnings. The gains came from higher profit margins on its loans and a reduction in its provisions for bad loans.

31 Oct 2012 - 8:16am

China Telecom results down 7.3pc year on year

A China Telecom service centre in Shanghai. Photo: EPA

China Telecom, the world's biggest fixed-line network operator, reported a fall in net profit of 7.3 per cent for the third quarter from a year earlier, hit by increasing costs and subsidies on mobile phones to attract subscribers.

Net profit dropped to 3.75 billion yuan (HK$4.61 billion) while revenue rose 16 per cent to 72 billion yuan from the year-earlier quarter.

30 Oct 2012 - 2:48pm

Competition eats into CMB margins

Citic Bank made a loan provision of 4 billion yuan compared with 1.81 billion yuan at the same time last year. Photo: Bloomberg

China Merchants Bank's net profit grew 16.6 per cent in the third quarter from a year earlier, driven by a rise in interest income, but net interest margin dipped amid fierce competition.

Earnings at the mainland's sixth-largest lender by assets reached 11.41 billion yuan (HK$14.16 billion).

30 Oct 2012 - 4:25am

Carmaker BYD caught in drag from solar business, lower car demand

BYD didn't profit from lower sales of Japanese cars. Photo: AFP

Mainland electric carmaker BYD's third-quarter profit slumped 94 per cent due to weak domestic demand and losses from it solar panel business.

30 Oct 2012 - 4:25am

Agricultural Bank Q3 results beat forecasts

Analysts are upbeat that increasing demand for loans on the mainland will buoy Agricultural Bank of China's earnings through the current quarter as well. Photo: Bloomberg

Agricultural Bank of China posted a forecast-beating net profit growth of 16 per cent in the third quarter from a year ago, and analysts think increased demand for loans on the mainland will buoy earnings this quarter.

27 Oct 2012 - 2:52am

Higher costs erode China Shenhua Energy's third-quarter profit

Coal being loaded at a dock in Shanghai. China Shenhua Energy's sales rose but they were offset by lower selling prices. Photo: Bloomberg

China Shenhua Energy, the listed unit of the nation's largest coal producer Shenhua Group, posted a 4 per cent drop in third-quarter net profit, as lower coal selling prices and higher production costs offset increased sales.

27 Oct 2012 - 3:21am

Concern over earnings stops 10-day rally in Hong Kong stocks

Concern over earnings stops 10-day rally in Hong Kong stocks

Hong Kong stocks ended their 10-day rally yesterday as investors took profits on worries that soon-to-be-released corporate earnings may disappoint after major mainland companies, including China Unicom, missed third-quarter results forecasts.

27 Oct 2012 - 3:11am

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