Sales, restructuring lift Peugeot's net

Article Abstract:

PSA Peugeot-Citroen SA of France has reported a net profit of 2.22 billion French francs ($383.2 million) for the first-half of 1998, an increase of over four times from 505 million francs in 1997. The auto maker's operating profit, not including exceptional items, rose nearly six times to 4.48 billion francs in the same six months from 782 million francs in 1997, just a little short of Peugeot's 1998 target of five billion francs. Peugeot attributed the good performance to the recovery of the Western European auto market, particularly in France where the market rose 12%. Jean-Martin Folz, chairman of Peugeot, is likewise credited for his restructuring initiative to integrate the production of Peugeot and Citroen cars while maintaining the two brands separately.

Comment:

Posts a net profit of 2.22 bil French francs ($383.2 mil) for the 1st-half of 1998, an increase of over 4 times than in 1997

France, Motor Vehicles, Automobile and Light Duty Motor Vehicle Manufacturing, Peugeot S.A.

---

Cost-cutting helps lift Telefonica's profit

Article Abstract:

Telefonica SA of Spain has posted a 15% increase in net profit to $1.1 billion for the first nine months from January to September 1998, from 141.79 billion pesetas for the same period in 1997. The company cited cost-reduction measures for savings that exceeded expectations at the telecommunications firm. Telefonica is among the largest telecommunications operators in Latin America. An analyst said Telefonica gained from domestic-market boost, plus the reduced effect of the Brazil's market volatility.

Comment:

Posts a 15% increase in net profit to $1.1 billion for the first nine months from January to September 1998

Wired Telecommunications Carriers, Telephone Communications, Spain, Telephone services, Telefonica S.A.

---

BASF profit gets lift from plastics, chemicals units

Article Abstract:

Second-quarter net profit for German chemical firm BASF AG rose by 11% to reach $1.4 bil, boosted by higher prices and increased demand. Sales rose by 19%, but may have risen by 22% if not for currency effects.

CHEMICALS AND ALLIED PRODUCTS, Germany, BASF AG, Company sales and earnings, Chemical industry, Company earnings/profit, Pesticides industry, Herbicides, Sulphur industry, Financial report

Similar abstracts:

• Abstracts: Chairman sets modest goals for Peugeot. BNL chairman leaves post, citing tensions. Dow Jones to nominate new chairman
• Abstracts: Volvo is recalling trucks to repair light-system flaw. Chinese car maker acquires rival, creating potent unit
• Abstracts: Creative eye. TRIEC gets help from new Partners. Gatorade sweats out campaign
• Abstracts: CRO to invest gains from offers in data network. Telmex offers record debt deal. Advice to clunky conglomerates: follow GUS and enrich holders
• Abstracts: Multiple roles for branding in international marketing. Market selection for international expansion: assessing opportunities in emerging markets

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.