Olivetti trims its loss, expects profit for year
Article Abstract:
Olivetti SpA, the Italian telecommunications and information-systems firm, revealed that its pretax loss decreased to 42 billion lire or $24.2 million in the first four months of 1998. In the same period in 1997, the firm had a pretax loss of 305 billion lire. Olivetti also revealed in its meeting with analysts that its revenue increased 59% to 1.79 trillion lire in the first four months of 1998. However, Olivetti also said that its net debt increased to 1.256 trillion lire at the end of the first quarter from 944 billion at the end of 1997. The debt figures were taken from the sale of its Olsy information and technology unit to US-based Wang Laboratories Inc. last March 1998.
Comment:
Reveals that its pretax loss decreased to 42 billion lire or $24.2 million in the first four months of 1998
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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ENEL now shows profit for last year
Article Abstract:
Ente Nazionale per l'Energia Elettrica (ENEL), a state-controlled electricity producer and distributor of Italy, has corrected its financial results for 1997 showing a net profit of 976 billion lire or $549.9 million. ENEL previously reported a net loss of 124 billion lire in 1997 on May 29, 1998 and that it will take a charge of about 1.5 trillion lire. The charge is part of the country's decommisioning of its nuclear plants. ENEL, however, said it will instead take a charge of 390 billion lire and will only pay 922 billion lire in dividend to the Italian Treasury, which is ENEL's sole shareholder.
Comment:
Has corrected its financial results for 1997 showing a net profit of 976 billion lire or $549.9 million
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Net profit rose 29% in period, as sales of clothing increased
Article Abstract:
Benetton Group S.p.A. posted an increase of 29% in its net profits for the 2003 first quarter. The company posted 25 million euros in quarterly net profits.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2003
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