Santander profit hit by integration costs, forex

collected by :John Locas

Amazon's Jeff Bezos would need to spend $28 million a day to avoid getting richerBull market in stocks could be in 'last innings' as bears set sights on strongest sectorsSantander profit hit by integration costs, forexAdds detail, information on delistingsBanco Santander SA SAN-1.81% said Wednesday that its geographical diversity helped deliver a strong underlying profit rise in the second quarter, although it was hit by integration costs and currency headwinds. The Spanish bank, one of Europe's largest lenders, said its second-quarter net profit was 1.70 billion euros ($1.99 billion), down 3% from the year-earlier quarter. Santander said the fall was due to EUR300 million in planned costs related to the integration of Banco Popular, which it acquired in 2017. However, on an underlying basis profit rose 14% to EUR2.00 billion, Santander said. Excluding foreign-exchange effects, underlying profit rose 28%.

Volume and forex push Globetronics profit higher - Business News

Company attributes fine results to mass production of new productsPETALING JAYA: Globetronics Technology Bhd 's net profit for its second quarter ended June 30 rose 32% to RM9.34mil from RM7.06mil in the previous corresponding period. The higher earnings is mainly due to higher volume loading of products and a foreign exchange (forex) gain of RM710,000 during the quarter, compared with a forex loss of RM1mil a year earlier. For the six-month period, Globetronics' net profit increased to RM24.53mil from RM11.73mil in the previous corresponding period, while revenue improved to RM158.01mil from RM112.75mil before. During the six-month period, Globetronics said the group had acquired assets at a cost of RM7.25mil. "The carrying amount of land and buildings has been brought forward, without amendment from the previous audited financial statements.

Siemens Healthineers profit falls on forex hit

according to Net income at the medical-equipment manufacturer was 285 million euros ($332.2 million) compared with EUR320 million a year earlier. Revenue edged slightly lower to EUR3.30 billion from EUR3.31 billion, the company said. Siemens Healthineers, which raised EUR4.2 billion from its initial public offering in March, said foreign-exchange headwinds reduced revenue growth by five percentage points across all segments. The company said its adjusted profit margin for the quarter was 16% compared with 17.1% a year earlier. Profitability was held back by a large low-margin contract booked in the diagnostics division and a EUR25 million severance charge, Siemens Healthineers said.