Ceska Sporitelna widens full-year loss prediction

Article Abstract:

Ceska Sporitelna AS, a savings bank from the Czech Republic, projects $241 million, or approximately Kcs7 billion, in losses for the full-year period of 1998. The losses projection was blamed by Ceska Sporitelna to its provision of bad loans. The company's losses forecast also surpasses by over 100% its losses projections made during the middle part of 1998. Ceska Sporitelna earlier reported Kcs324 million in losses for the period covering January to September 1998.

Comment:

Projects $241 mil, or approximately Kcs7 bil, in losses for the full-year period of 1998

Commercial Banks, Commercial Banking, Czech Republic, Ceska Sporitelna AS

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Hitachi forecasts a pretax loss of $1.67 billion

Article Abstract:

Hitachi Ltd. announced that it is expecting to post 230 billion yen ($1.67 billion) in pretax losses for the year ending on March 31, 1999. The company is also expecting to post a drop in sales of 6% for the same period. The predicted loss will be the first one that Hitachi has experienced since the end of World War Two. The forecast caused Hitachi to unveil a broad restructuring strategy that is intended to improve the company's financial performance.

Comment:

Announced that it is expecting to post 230 billion yen ($1.67 billion) in pretax losses for the year ending on March 31, 1999

Japan, Diversified Companies, Hitachi Ltd.

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