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06/08/2001
HSBC posts promising half year results
Banking goliath HSBC has announced positive first half results despite challenging economic conditions.
It has posted first half pre-tax profit of £4.09 billion before goodwill, up from £3.64 billion a year ago. Financial analysts had forecast slide in profits but the worldwide bank seems to have brushed off the effects of the global economic slowdown.
The group’s ‘bad and doubtful’ debts at the bank also came in lower than expected at £309 million, £51 million higher than a year ago but much lower than most analysts predicted.
However the group, which has operations in the UK, Hong Kong and the US, has maintained that the future remains unclear for the financial services industry. Group chairman Sir John Bond said there is evidence of increasingly fragile economic conditions in some emerging markets. He added that is yet to be seen what the full effect of the corporate slowdown will be on employment and in turn, how that will affect the consumer demand, which currently sustains some major economies.
The company says its conservative approach to growth – focusing on operating margin rather increasingly risky investments –will help it weather the current difficult conditions. (AMcE)
It has posted first half pre-tax profit of £4.09 billion before goodwill, up from £3.64 billion a year ago. Financial analysts had forecast slide in profits but the worldwide bank seems to have brushed off the effects of the global economic slowdown.
The group’s ‘bad and doubtful’ debts at the bank also came in lower than expected at £309 million, £51 million higher than a year ago but much lower than most analysts predicted.
However the group, which has operations in the UK, Hong Kong and the US, has maintained that the future remains unclear for the financial services industry. Group chairman Sir John Bond said there is evidence of increasingly fragile economic conditions in some emerging markets. He added that is yet to be seen what the full effect of the corporate slowdown will be on employment and in turn, how that will affect the consumer demand, which currently sustains some major economies.
The company says its conservative approach to growth – focusing on operating margin rather increasingly risky investments –will help it weather the current difficult conditions. (AMcE)
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30 April 2013
Firms To Receive A Package Of Free Leadership And Management Programmes
Employment and Learning Minister Dr Stephen Farry today announced a package of free leadership and management programmes for local businesses. The Department for Employment and Learning will provide 100% financial support to businesses and social economy enterprises that utilise the Department’s leadership and management suite of programmes.
Firms To Receive A Package Of Free Leadership And Management Programmes
Employment and Learning Minister Dr Stephen Farry today announced a package of free leadership and management programmes for local businesses. The Department for Employment and Learning will provide 100% financial support to businesses and social economy enterprises that utilise the Department’s leadership and management suite of programmes.
24 July 2001
Further job losses revealed in ICT sector
Electronics and engineering group Invensys has announced further cost-saving strategies that could see the company cut as many as 2,500 jobs in the next twelve months. The company has been hard hit by the recent downward trend of the technology sector due to the sluggish nature of the current economic climate in the US.
Further job losses revealed in ICT sector
Electronics and engineering group Invensys has announced further cost-saving strategies that could see the company cut as many as 2,500 jobs in the next twelve months. The company has been hard hit by the recent downward trend of the technology sector due to the sluggish nature of the current economic climate in the US.
11 January 2002
September 11 continues to affect travel industry
The latest figures from the British Airports Authority (BAA) has shown that the September 11 attacks on the US and the global economic slowdown are still weighing on UK air travel and tourist numbers.
September 11 continues to affect travel industry
The latest figures from the British Airports Authority (BAA) has shown that the September 11 attacks on the US and the global economic slowdown are still weighing on UK air travel and tourist numbers.
21 February 2002
Retail slowdown after high spending Christmas
The latest figures from the Office of National Statistics has revealed that UK retailers saw high street retail sales slow after a high-spending December. However, while sales were still stronger than last year, UK retail spending fell 0.3 per cent during January from the previous month.
Retail slowdown after high spending Christmas
The latest figures from the Office of National Statistics has revealed that UK retailers saw high street retail sales slow after a high-spending December. However, while sales were still stronger than last year, UK retail spending fell 0.3 per cent during January from the previous month.
13 September 2001
BAE Systems reveals first-half year profits
Defence giant BAE Systems has posted a modest four per cent rise in first half year profits but said it expected growth to pick up next year. The company, which is the fifth-largest supplier to the US military, posted pre-tax profits of £482 million for the first half of 2001.
BAE Systems reveals first-half year profits
Defence giant BAE Systems has posted a modest four per cent rise in first half year profits but said it expected growth to pick up next year. The company, which is the fifth-largest supplier to the US military, posted pre-tax profits of £482 million for the first half of 2001.
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