Rank plans to cut jobs, costs as pretax profit declines 1.2%

Article Abstract:

Rank Group PLC posted flat earnings for the first-half of 1999. The company also announced that it will downsize jobs as part of a comprehensive cost-reduction program. Rank posted 80 million pound sterling (120.4 million euros) in pretax profits for the period. This was a fall of 1.2%. Rank believes the job cuts would improve the leisure firm's earnings. During the same period in 1998, Rank posted 81 million pound sterling in pretax profits.

Comment:

Posts flat earnings for first-half of 1999

United Kingdom, Finance, Rank Group PLC

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Siemens net climbed 17% in first half

Article Abstract:

Siemens AG announced that its profits for the first half of 1999 increased by 17%. This is compared to the same period in 1998. The company's profits were helped greatly by unexpectedly strong sales during the second quarter. Siemens posted 1.39 billion marks ($755.6 million) in net income for the first half ending on March 31, 1999. During the same period in 1998, the company posted 1.19 billion marks.

Comment:

Profits for first half of 1999 increased by 17%

Germany, Siemens AG

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