A look at global companies and their earnings in this week’s reports

US automakers said their sales in China grew by 7.8 percent year-on-year last month to 265,994 units. The volume of sales in the first two months of the year is 633,706 vehicles, a 12 percent increase over the same period a year ago. GM’s total sales were of 4.04 million vehicles in 2017, a 4.4% increase from 2016.

Germany’s Deutsche Eurosop has announced a 14 percent rise in its operating profit last year, to 148 million euros, or 2.54 euros per share, compared to 2.41 euros per share in 2016. Meanwhile, the combined profits of the company investing in shopping centers in high-end areas last year reached 134 million euros, compared to 221 million euros in 2016. The drop was due to a significant decline in the value of investments. The company’s pre-tax and interest income grew by 7.7 percent year-on-year to 192 million euros in 2017 from 178.6 million euros in 2016. Revenue rose by 6.5 percent to 218 million euros last year, an improvement from the 205 million euros a year earlier.

China Unicom expects its net profit to rise by 1777.6% over last year, thanks to growth in its business. The company said in a statement to the Shanghai Stock Exchange that its net profit to shareholders is expected to reach about $68 million. The company said it expected net profit after subtracting the accidental losses from telecommunications companies’ use of fiber optics rather than copper wires to be 990 million yuan. China Unicom attributed its higher profits to its core business growth and reduced marketing costs. Revenue rose by 4.6 percent to 249 billion yuan, and the number of 4G subscribers rose by 70 million to 175 million, the company said in a statement.

Toyota Motor North America, a subsidiary of Japan’s Toyota Motor Corp, reported a 4.5% increase in sales in the United States last month, selling 182,195 vehicles, compared with 174,339 in February 2017. The company’s last month sales were of 162,930 vehicles, a 4.4% increase over the same month last year, which was of 156,001.

Lexus sales rose by 5.1%, to 19,265 vehicles over the same period. “We have made a remarkable start to the year, with light truck sales hitting their best performance in February and strong sales of the entire new generation Camry, giving us momentum before entering,” said Jack Hollis, Group Vice President and General Manager, Toyota.


Be the first to comment

Leave a Reply

Your email address will not be published.