SIEMENS EARNS MORE
Siemens AG (FRA:SIE) has closed its fiscal year to meet the key financial targets it had set.
Siemens had a net profit of 7,380 million euros in its last fiscal year, which ended on September 31, 34% more than the previous, announced today the German industrial group.
The company explained that this result, included sales of 3,000 million euros of its hearing aid division and its participation in the manufacturer Bosch und Siemens Hausgeräte (BSH) appliances.
President and CEO of Siemens, Joe Kaeser, was pleased, in a statement, by the end balance obtained by the company at the close of September 31: “We have achieved what we promised and we are well positioned to continue to meet our plans for next year. “
Gross profit (EBITDA) of the company rose by 3% compared to last fiscal year, standing at 9.825 million euros.
The turnover of Siemens in fiscal year reached 75.636 million euros, representing an increase of 6% over the previous year.
The order book in this period also increased by 6% to 82,340 million euros, the company indicated in presenting its balance sheet.
Industrial net debt of the German conglomerate, meanwhile, went from 1,390 million in September 2014 to 6,107,000 euros at the end of September.
The free cash flow during the year stood at 4,700 million euros compared to 5,200 million in fiscal 2014.
The board and the supervisory board of Siemens will propose to the shareholders to distribute an earnings per share of 3.50 euros for this fiscal year, compared with 3.30 euros the comparison period.
CISCO EARNS MORE
Cisco Systems, Inc. (NASDAQ:CSCO) presented a net profit of 3.024 million dollars, an increase of 7.9% over the first quarter of the previous fiscal year.
The technology firm announced that in the first quarter of its fiscal year had a net profit of 2.430 billion, 37.1% more than in the same period of the previous fiscal year.
In reporting its results for the first quarter of fiscal 2016, Cisco reported earnings per share were 48 cents, up from the 35 it had in the first quarter of its fiscal year 2015.
The adjusted earnings per share was 59 cents, above the 54 cents it had in the first quarter of its fiscal year, as reported by the company by providing financial information to the close of trading on Wall Street.
The company said that in the quarter ended October 24 last sales revenue reached 12.682 million dollars, 3.6% more than in the first quarter of its fiscal year 2015.
Cisco, based in San Jose (California), one of the leading manufacturers of computer equipment, announced that its forecast for the current quarter will reach 2%, below 5% expected by analysts.
BARKLAYS EARNS
BARKLAYS (LSE: BARC) up 14% from January to September
British bank reported its adjusted profit in the first nine months of the year was 2,942 million pounds (4,100 million euros).
Net operating income from January to September were of 17.622 million pounds, representing a fall of 3% compared to the same months of 2014.
The cumulative gross profit has risen 4% to 5.156 million pounds, announced the bank, who stressed that cost control has helped the results.
In addition, the core capital have been 47,900 million pounds, down 3% from 46,500 million last year.
Barclays chairman, John McFarlane, said the bank ahead three priorities: focus on their core business, generating value for shareholders and promote an ethical culture.
The American banker Jes Staley has been named as the new chief executive of BARKLAYS on a £10m pay package and immediately played down expectations of a revival of the group’s troublesome investment banking arm.
The 58-year-old arrives at the bank amid a restructuring that is expected to result in 19000 job cuts, as the investment bank is scaled back.
Barclays is also preparing for new rules requiring riskier investment banking businesses to be ringfenced from high-street banking operations.
Jes Staley, who will take over on 1st December told staff he wanted to focus on bolstering returns to shareholders but also on improving behaviour that was called into question as a result of the Libor-rigging crisis. He also signalled he would pursue a collaborative relationship with regulators and pointed to a continued streamlining of the investment bank.
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