Tuesday, 07 May 2013 18:10
Posted by Muhammad Iqbal
TAIPEI: Taiwan's leading personal computer maker Acer said on Tuesday it swung to profit in the first quarter of 2013 thanks to income from foreign exchange and stock sales.Acer reported net profit of Tw$515 million ($17.2 million) in the three months to March, up 55.6 percent year-on-year due to a number of non-operating incomes including foreign exchange and stock disposal gains.This compared with a net loss of Tw$3.37 billion in the fourth quarter of 2012 after a write-down of the value of its brands, including Gateway and Packard Bell.First-quarter consolidated revenue was Tw$91.97 billion, down 18.6 percent from last year and also down 9.4 percent quarter-on-quarter due to seasonal factors, the company said.Acer, which has been struggling to branch into the tablet computer sector, was forced to cut hundreds of jobs in 2011 after suffering heavy losses due to weakening demand in Europe and the United States.Copyright AFP (Agence France-Presse), ...
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TAIPEI: Taiwan's leading personal computer maker Acer said on Tuesday it swung to profit in the first quarter of 2013 thanks to income from foreign exchange and stock sales.Acer reported net profit of Tw$515 million ($17.2 million) in the three months to March, up 55.6 percent year-on-year due to a number of non-operating incomes including foreign exchange and stock disposal gains.This compared with a net loss of Tw$3.37 billion in the fourth quarter of 2012 after a write-down of the value of its brands, including Gateway and Packard Bell.First-quarter consolidated revenue was Tw$91.97 billion, down 18.6 percent from last year and also down 9.4 percent quarter-on-quarter due to seasonal factors, the company said.Acer, which has been struggling to branch into the tablet computer sector, was forced to cut hundreds of jobs in 2011 after suffering heavy losses due to weakening demand in Europe and the United States.Copyright AFP (Agence France-Presse), ...
COPENHAGEN: Carlsberg, the world's fourth-biggest brewer, said on Tuesday that it returned to profit in the first quarter from the outcome 12 months ago, significantly beating analyst forecasts on strong growth in Asia.The Danish beer giant, which also maintained its full-year outlook, recorded a net profit of 62 million kroner (8.3 million euros, $10.9 million) in the quarter, swinging back into the black from a previous loss of 76 million kroner in the same period ...
SHANGHAI: Chinese authorities have approved a $1.3 billion General Motors plant to make luxury Cadillac cars, the US auto giant said Tuesday as it seeks more premium sales in the world's biggest vehicle market.Construction of the plant -- which will have annual capacity of 150,000 vehicles -- will start in June in the commercial hub Shanghai, GM China said in a statement to AFP.It will be run by Shanghai GM, a joint venture with China's ...
FRANKFURT: German insurance giant Allianz said on Tuesday it was holding to its full-year targets even though profits rose in the first three months."We are well on our way toward achieving our operating profit outlook for the entire year," said chief executive Michael Diekmann in a short statement."Despite the good results in the first quarter, in view of the existing market risks, the management board sees no need for an adjustment of our outlook for ...
FRANKFURT: Munich Re, the world's biggest reinsurer, said Tuesday it is standing by its full-year targets for the current year after the first three months "went very well." "The first three months of 2013 went very well for Munich Re group-wide," the reinsurer said in a statement.It posted net profit of 979 million euros ($1.3 billion) in the period from January to March, an increase of 25.2 percent year-on-year. Chief financial officer Joerg Schneider attributed ...
JOHANNESBURG: South African Airlines is one of the continent's leading carriers, but financial battles and seemingly endless changes of leadership have put its future at risk.The loss-making state-owned airline has been stumbling from one crisis to another in recent years, with calls for privatisation routinely rejected by its sole shareholder, the South African government.On Monday the company announced it would borrow about $170 million under a state guarantee to cover operating costs.This month, the beleaguered ...
HOUSTON: Exxon Mobil Corp said on Monday that the crude distillation unit would be included in a multi-week overhaul of several units that began last week at its 149,500 barrel per day Los Angeles-area refinery in Torrance, California.Other units undergoing work at the refinery include a catalytic hydrotreater, the sulfur recovery unit, alkylation unit, one of the refinery's hydrogen units and one of its coking units."The overall duration of the maintenance is expected to last ...
