July 3, 2011, 2:40 am
Alcoa Inc. (AA) said Monday it turned a first-quarter profit on stronger sales at higher prices that were offset by a weaker dollar and higher costs for energy and raw materials.
Alcoa said business improved from a range of customers, including aerospace, automotive, commercial transportation and packaging industries. It marked the fourth consecutive quarterly profit for Alcoa as it pulled out of two difficult years hit by the recession.
The Pittsburgh aluminum manufacturer also expects business to continue to improve, reaffirming its forecast of a 12 percent increase in global aluminum demand this year.
Alcoa Chairman and CEO Klaus Kleinfeld said the company improved profitability across all business segments and said his outlook remains very positive for 2011 and beyond.
Alcoa’s first-quarter net income was $308 million, or 27 cents a share, compared with a net loss of $201 million, or 20 cents a share, in the year-ago quarter.
Sales increased to $5.96 billion from $4.9 billion a year ago. Full post…
June 20, 2011, 9:13 pm
Shares in British luxury goods company Burberry Group PLC jumped Tuesday after the company reported strong second-half sales and predicted a full-year profit at the top end of market forecasts.
Burberry’s popularity in the Asia Pacific region, particularly Hong Kong and Taiwan, led sales 33 percent higher in the six months to March 31, compared to a year earlier.
Chief Executive Angela Ahrendts said the company expects full-year pretax profit to be at the top end of market forecasts, or around 347 million pounds ($564 million).
“While the luxury industry faces global challenges in the year ahead, we remain confident in our team’s ability to outperform, underpinned by the consistent execution of our key strategies,” said Ahrendts in a trading update.
Retail revenues were 42 percent higher at 596 million pounds ($972 million), while wholesale revenues rose 14 percent to 214 million pounds ($349 million).
Shares in the company, known for its distinctive red, black and brown plaid fabric, were up 6 percent at 1,216 pence in midmorning trade on the London Stock Exchange.
Analysts said the company is outperforming its peers in the luxury sector.
July 9, 2010, 2:43 am
AutoNation Inc. (AN – Analyst Report) showed a 13% rise in retail new vehicle sales to 16,153 units last month, driven by strong growth in its Domestic brands. Sales of the Domestic brands, which comprise stores that sell vehicles manufactured by General Motors (MTLQQ – Analyst Report), Ford Motor Co. (F – Analyst Report) and Chrysler LLC, advanced 23% to 4,805 units, thereby accounting for 30% of new vehicle sales. Sales of the Import brands, comprising stores that sell vehicles manufactured primarily by Toyota Motor Corp. (TM – Analyst Report), Honda Motor Co. (HMC – Analyst Report) and Nissan Motor Co. (NSANY – Analyst Report), increased 4% to 8,328 units. Full post…