Company Earnings

HP's earnings fall for seventh straight quarter

HP's earnings fall for seventh straight quarter

Hewlett-Packard's slump is deepening as the world's largest personal computer maker scrambles to meet the growing demand for more versatile and less expensive mobile devices.

Friday, 24 May, 2013, 3:47am

Lenovo says profit to soar on PC market rebound

Yang Yuanqing, chief executive of Lenovo, says the company will focus this year on expanding sales of smartphones and media tablets worldwide. Photo: May Tse

Lenovo, which posted record-high annual revenue and net income for the year ending March 31, said it expects the slumping global personal computer industry will rebound in the second half of this year and help boost the company's profitability.

24 May 2013 - 4:37am

UBS China pins hopes on China bond market, derivatives

David Li, chairman of UBS China, says the expansion of the mainland bond market will create demand for currency swaps and collateralised loan obligations. Photo: David Wong

UBS Securities, a joint venture managed by the Swiss banking group, reported last month its net earnings shrank by more than 90 per cent to 11.3 million yuan (HK$14.3 million) over the four-year period to last year.

20 May 2013 - 4:18am

China Railway suffers first-quarter loss, bond sale prospectus shows

China Railway Corp suffered an after-tax loss of 6.88 billion yuan (HK$8.7 billion) in the first quarter. Photo: Bloomberg

China Railway Corp, the spin-off from the now-defunct Chinese Ministry of Railways, suffered an after-tax loss of 6.88 billion yuan (HK$8.7 billion) in the first quarter, compared with an after-tax profit of 196 million yuan for the whole of 2012, according to its first bond prospectus.

10 Jan 2014 - 11:27am

China Resources is hit by extravaganza clampdown

Higher-than-usual temperatures in the first quarter helped to boost sales volumes of China Resources' Snow beer. Photo: One Red Eye

The campaign to curb extravagant spending by mainland officials and rising material costs took a toll on China Resources Enterprise, which saw a more than 60 per cent drop in net profit in the first three months of the year.

17 May 2013 - 4:06am

Tencent first quarter profit rises 37pc on-year, driven by online games

Tencent first quarter profit rises 37pc on-year, driven by online games

Net profit jumped to four billion yuan (HK$5.05 billion), from 2.9 billion yuan a year earlier. Revenue increased 40.4 per cent to 13.5 billion yuan.

16 May 2013 - 3:53am

Minsheng makes profitable Hong Kong start

Lin Zhihong

Many mainland bank operations in Hong Kong took at least three years to see a profit, said Lin Zhihong, chief executive of China Minsheng's Hong Kong business, which made a net profit of more than HK$100 million at the end of last year. It completed a year this March.

16 May 2013 - 4:12am

Earnings alerts paint grim picture for Hong Kong-listed firms

Next Media warned of a substantially widening loss in the latest fiscal year to the end of March

Hong Kong-listed companies have issued almost 50 warnings over the past month about substantial profit declines or losses as the mainland economic recovery continues to look shaky.

16 May 2013 - 4:12am 1 comment

Galaxy shines from high-stakes play

Galaxy Entertainment's flagship casino resort, Galaxy Macau hotel. The firm is spending HK$16 billion on its next phase of growth. Photo: AFP

Adjusted earnings before interest, taxes, depreciation and amortisation for the quarter to March rose to HK$2.77 billion from HK$2.15 billion a year ago, Galaxy said in a statement. The median estimate of six analysts was HK$2.79 billion.

16 May 2013 - 3:53am

StanChart's first-quarter margins hit by competition

First-quarter operating profit fell slightly from the previous year, Standard Chartered said yesterday. Photo: AFP

The results came as a shock to the market, with Standard Chartered's share price in Hong Kong falling 3.53 per cent to close at HK$193.90, after rising as much as 2.4 per cent before the bank's results were announced.

9 May 2013 - 5:08am

DBS profit maintains momentum in quarter

First quarter earnings from DBS Group Holdings far outstripped analysts' forecasts and hit a new record. Photo: Reuters

DBS, Singapore's largest bank, posted an 11th consecutive increase in quarterly profit to S$950 million (HK$5.98 billion), thanks to fee income growth and favourable market conditions.

3 May 2013 - 3:15am

Doubt cast on PICC health unit's huge loss

Doubt cast on PICC health unit's huge loss

PICC Health Insurance, controlled by Hong Kong-listed PICC Group and DKV, the largest private health insurance company in Europe, said last year's net losses amounted to 7.43 trillion yuan (HK$9.35 trillion), more than 200 times its 28.93 billion yuan in assets.

2 May 2013 - 3:47am

IBM chief confident despite poor profits

Virginia Rometty, IBM chief executive. Photo: Bloomberg

IBM chief executive Ginni Rometty, facing more sceptical investors after the company missed quarterly earnings estimates for the first time in eight years, said she remained confident about reaching long-term profit goals.

2 May 2013 - 3:47am

Minsheng rallies on profit growth

China Minsheng Banking rallies on profit growth

China Minsheng Banking, the nation's largest privately owned lender, said net profit surged 20 per cent in the first quarter as strong fee and commission earnings more than offset shrunken profits from making loans.

25 Apr 2013 - 6:15am

TCL's net profit falls 32.5pc to HK$210m

TCL's net profit falls 32.5pc to HK$210m

Television maker TCL Multimedia Technology said its net profit fell 32.5 per cent to HK$210 million in the first quarter of the year.

25 Apr 2013 - 6:15am