Asian woes fail to damp the outlook for Porsche

Article Abstract:

Porsche AG's outlook for the present fiscal year will continue to remain positive despite of the deepening regional crisis in Asia. Speaking at a news conference in Paris, France, Chairman Wendelin Wiedeking said that the overwhelming response to the company's Boxster model and 911 model will help bolster earnings for fiscal 1999 as it did for fiscal 1998. Porsche, which recorded sales of 4.9 billion marks for fiscal 1998 ended Jul. 31, 1998, expects sales to exceed five billion marks for fiscal year 1999.

Comment:

Outlook for the present fiscal year will continue to remain positive despite of the deepening regional crisis in Asia

Porsche AG, Article

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DaimlerChrysler expected to pull plug on Plymouth

Article Abstract:

DaimlerChrysler AG is expected to start phasing out its Plymouth brand. The company is eliminating the brand because of its falling sales in recent years. The Plymouth brand is one of the most revered names in the US market, along with Oldsmobile and Mercury, that has seen its fortunes drop over the last 20 years. DaimlerChrysler debated the decision over whether or not the potential costs of phasing out the brand were worth it.

United States, Product discontinued, Automobile industry, Product discontinuation, Daimler AG, Plymouth (Automobile)

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Unaudited net falls 39% at Framatone

Article Abstract:

Framatome SA posted a decline of 39% in its unaudited net profits for the 1998 year. Framatome, a nuclear engineering and connector firm based in France, posted 92 million euros ($100.6 million) in net profits for 1998, compared to 151 million euros in 1997. The company blamed the drop in profits on delayed payments for the Civaux-1 nuclear plant in France. Framatome's total revenues also declined 1.8%.

Comment:

Posts decline of 39% in unaudited net profits for the 1998 year

Motor and Generator Manufacturing, Motors and generators, Nuclear Electric Generators, Finance, Nuclear industry, Nuclear power plants, Framatome S.A.

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