Etihad triples its net profits February 4, 2013 ETIHAD Airways yesterday said its net profit tripled in 2012 as its fast-expanding global network attracted more passengers. Etihad – which has stakes in Air Berlin and Virgin Australia and is close to taking a stake in India’s Jet Airways – earned a net profit of $42m (£26.6m) in 2012, compared with $14m in the [...]
Choppy waters for cruise firm February 4, 2013 ROYAL Caribbean Cruises, the world’s second-largest cruise operator, yesterday said that strong US demand and a jump in bookings so far this year would help mitigate lingering weakness in Europe in 2013. The firm reported a fourth-quarter net loss of $392.8m (£249m), on revenue of $1.81bn, compared with a profit of $36.6m on revenue of [...]
Anglo warns of $225m loss on back of strikes February 4, 2013 MINER Anglo American will take a $225m (£143m) hit in this year’s results for its interest in its platinum operations, following violent strikes last summer. Anglo American, which is due to report its annual results next week, said it will take the $225m as an underlying loss in respect of majority-owned subsidiary Anglo American Platinum. [...]
Hard choices ahead as platinum prices fail to brighten February 4, 2013 THE strike that hit Lonmin’s Marikana platinum mine in South Africa last summer is the one that sticks most tragically in the memory, thanks to the appalling violence which broke out, ending with 34 strikers dead at the hands of the police on a single day – the bloodiest security incident in the troubled nation [...]
Bumi director urges Rothschild to return his 16m bonus shares February 4, 2013 WITH just over two weeks to go before Bumi’s boardroom battle on 21 February, senior independent non-executive director Julian Horn-Smith has called on co-founder Nat Rothschild to give up more than 16m bonus shares. Rothschild was granted the shares when his acquisition vehicle Vallar bought Bumi assets in 2011. “It is now clear that the [...]
Randgold tops FTSE 100 risers on record profit February 4, 2013 GOLD miner Randgold Resources yesterday posted record production and profits for last year, despite a tough time at some of its African operations. The FTSE 100 miner logged profits of $511m (£325m) over the year, up 16 per cent. Production was up 14 per cent, at 794,844 ounces of gold. Quarter on quarter, profit in [...]
Salamander soars as it strikes oil at the North Kutei basin off Indonesia February 4, 2013 SHARES in explorer Salamander Energy soared yesterday as it said it had discovered oil at a well offshore Indonesia. The London-listed explorer said yesterday that it had discovered 40 metres of net oil and gas in sandstones in the North Kutei basin – part of Salamander’s multi-well drilling programme – off the coast of Indonesia. [...]
Anadarko moves back into black for 2012 fourth quarter February 4, 2013 ANADARKO yesterday reported fourth-quarter net income of $203m (£128.8m) – a big improvement on the $358m loss at the same time last year. Adjusted net income for the quarter was $457m, or 91 cents a share, compared to $423m or 85 cents a share at the same time last year. Analysts had forecast the company [...]
KFC poultry probe leaves bad taste for Yum Brands February 4, 2013 KFC parent Yum Brands yesterday warned it expects 2013 per-share earnings to shrink rather than grow, as it grapples with a food safety scare that ensnared some of its chicken suppliers in its top market. The company, which gets more than half of its overall sales and operating profit from China, reported a six per [...]
Analyst Views | What should investors watch out for in Randgold’s results? February 4, 2013 TIM DUDLEY CANACCORD GENUITY Randgold guided production in a range of 900-950,000 ounces, representing a 13-19 per cent increase over 2012, based on more conservative guidance for Tongon and Morila than our forecast of 950,000 ounces. We maintain our “buy” rating. KATE CRAIG LIBERUM CAPITAL 2012 production was broadly in line with our numbers. Cash [...]