Firm pound, slow growth damp EMI's pretax profit

Article Abstract:

EMI Group PLC's pretax profit in the fiscal year ended Mar. 31, 1998, dropped by 19% due to a decline in growth in the music market, the economic turmoil in Asia and a strong pounds sterling. For above period, the UK-based company achieved 307.1 million pounds sterling, or $502.5 million, in pretax profit from 380.5 pounds sterling. Likewise, EMI posted 3.31 billion pounds sterling in sales in the fiscal year ended Mar. 31, 1998, down 2.4% from 3.39 billion pounds sterling. EMI's merger talks with Seagram Co., a liquor producer based in Canada, collapsed.

Comment:

Its pretax profit in the fiscal year ended 3/31/98 drops 19% due to lower growth in music mkt & strong pounds sterling

Integrated Record Production/Distribution, Prerecorded Audio Tapes, EMI Group PLC, Tape recordings, Article

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Vickers profit surged 87% in first half

Article Abstract:

Vickers PLC posted an improvement of 87% in its pretax operating profits for the first-half of 1999. The company did however, post reduced revenues for the period. Vickers posted 35.2 million pound sterling in profits before taxes and exceptional items. During the same period in 1998, the company posted 18.8 million pound sterling. Vickers previously sold its Rolls-Royce unit and implemented a major restructuring.

Comment:

Posts improvement of 87% in pretax operating profits for first-half of 1999

Abstract, Vickers PLC

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Unilever holds fast to targets, despite 44% drop in net profit

Article Abstract:

In spite of the slowing economy, Anglo-Dutch company Unilever Group reports that it expects to meet all its targets even though its third-quarter net profit dropped. The company paid lower interest rates and spent less on marketing, during the quarter, while posting strong sales, all contributing to its optimistic outlook.

Netherlands, Statistical Data Included, International business enterprises, Multinational corporations, Unilever Group

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