Unilever's 121m hit from Asia and pound

Article Abstract:

The Anglo/Dutch consumer goods company Unilever, has announced that it is expecting profit growth in the near future to be hit by the economic crisis in Asia and the effects of the strong pound. The company has seen its Indonesian and Thai operations the worst hit so far in 1998. With signs of an economic slowdown in a number of countries the effects of the crisis may be felt for some time. Overall the Asian crisis has knocked some GB 52mn off company profits with a further GB 69mn being lost to the strong pound. The announcement came as the company reported a 79% decline in Q2 pre-tax profits to GB 722mn. For the first-half of 1998 the company saw a 62% fall in profits to GB 1.48bn, drastically down on the GB 3.8bn recorded in 1997.

Comment:

Expects profit growth in near future to be hit by economic crisis in Asia and effects of strong pound

Soap and Other Detergent Manufacturing, Soaps & Detergents, Cleaning agents industry, Unilever Group

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Middle market firms lose millions

Article Abstract:

Some 40% of UK middle market firms are losing money due to an inability to manage risk, according to research by PricewaterhouseCoopers revealed on 20 July 1998. The middle market is defined as businesses with turnover of GB 5mn-GB 200mn, strategic risk management expert at the UK-based accountant, Richard Anderson, revealed that losses in certain instances totalled GB 100,000. Mr Anderson believed that 80% of firms were aware that risk management was important but that only a few realised the benefits related to profits and growth. The survey revealed that almost 90% of middle market firms are unable to define business risk.

Comment:

UK: About 80% of firms are aware that risk mgmt is important but only a few realised the benefits related to profits & growth

Other Management Consulting Services, Risk Management Consulting Svcs, Risk management services

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Franks for the memory

Article Abstract:

Wagadon's monthly fashion magazine Frank, which has now closed down, faced significant challenges both before and after its launch in Oct 1997. Industry reaction to the first issue was generally favourable, but the magazine was expected to compete with Elle and Vogue from the very beginning. This proved extremely difficult on a very tight budget and with very limited staff resources. Frank remained bold, but began to lose its identity as key members of staff, including editor Tina Gaudoin, resigned. Publisher Nick Logan now plans to rework the magazine as a quarterly.

Periodical Publishers, Women's Periodicals, Women's magazines

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