Seagram's revenue rises 1.5% as Tropicana sale boosts net

Article Abstract:

Seagram Co. reported $2.79 billion in revenue in its fiscal first quarter, increasing 1.5% from $2.75 billion in the same period the previous fiscal year. The Canadian entertainment and beverage company's net income for the quarter ended Sep. 30, 1998, grew $1.16 billion, or $3.33 per diluted share, from $133 million, or 37 cents per share, the same period last year as result of a $1.07-billion gain from the sale of the company's Tropicana juice business. First-quarter earnings in its entertainment business, excluding interest, taxes, depreciation and amortization, were $415 million in the same quarter a year ago, while cash flow for its spirits and wine unit was $145 million, down 24% from $192 million.

Comment:

Reports $2.79 bil in revenue in its fiscal first quarter, up 1.5% from $2.75 bil in the same period

Liquor, Distilleries, Seagram Company Ltd., Article

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Falconbridge net surges as prices for metals rise

Article Abstract:

Falconbridge Ltd. of Canada posted stellar profit for the second quarter as it faces a merger. The metalworking company renewed its support for a takeover by Inco Ltd. also of Canada for $24.66 billion (Canadian Dollars) ($21.6 billion). A bidding war continues with Xstrata PLC of the United Kingdom.

FABRICATED METAL PRODUCTS, Metal products industry, Metalworking industry, Falconbridge Ltd.

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Alcan's net more than doubles on higher aluminum prices

Article Abstract:

Alcan Inc. of Canada posted soaring first quarter net income of $453 million from $218 million last year. Revenues were due to strong demand and high aluminum prices. Demand for aluminum is expected to outstrip supply this year.

Market information - general, Primary aluminum, Metal ores, not elsewhere classified, Supply and demand, Aluminum industry, Alcan Inc., AL

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