Computer Warehouse Group releases earnings warning

Businessam StaffMarch 21, 2018

Computer Warehouse Group (CWG) Plc. has released earnings warning that it suffered a decline in performance in the financial year ended December 31, 2017, and that its earnings may significantly drop than the previous years. The board of directors dropped the is hint in a notification to the Nigerian Stock Exchange (NSE) Tuesday, noting that […]

Academy Press late Q1 ’17 result disappoints as profit down 70%

Businessam StaffFebruary 27, 2018

Nigerian printer, Academy Press Plc, made a late release of its first-quarter 2017 financial statement on Tuesday for the period ended June 30, and it showed a 70 percent drop in profit after tax to N4.252 million. Released to The Nigerian Stock Exchange in Lagos, the statement showed profit fell from N14.170 million in the […]

Samsung plans to double revenues of its Africa’s market

Businessam StaffJanuary 15, 2018

South Korea’s Samsung Electronics plans to double the annual revenue contribution from its African markets to 20 percent of the firm’s global total in the next five years, the head of its business on the continent said on Monday. According to Reuters’ report, Sung Yoon said the electronics giant, which accounts for over half of […]

BAT trading in line, sees another year of earnings growth

Businessam StaffDecember 14, 2017

British American Tobacco said on Wednesday it was continuing to perform well and it was confident it would deliver another year of good earnings growth at constant currency as its brands outperformed the industry. BAT, which makes Lucky Strike and Dunhill cigarettes, said in a second-half trading update that its markets in Canada, Germany, Romania, […]

HP shares tumble as doubt mounts over ability to sustain growth

Businessam StaffNovember 22, 2017

HP Inc. shares tumbled the most in a year, signaling skepticism that the world’s biggest maker of personal computers can sustain the robust growth rate of the past year. The Palo Alto, the California-based company reported Tuesday that sales rose for the fifth consecutive quarter. But there is lingering investor doubt about the growth potential […]

Wal-Mart shares surge to all-time high after earnings crush expectations

Businessam StaffNovember 16, 2017

Wal-Mart shares surged to an all-time high, jumping more than 8 percent Thursday after the world’s largest retailer showed it can hold its own in a challenging retail environment. Same-store sales for its U.S. locations climbed for the 13th-consecutive quarter, as the big-box retailer cited a bright spot in its food business and a boost from […]

Facebook’s advertising revenue soars above $10bn, boosting profit

Businessam StaffNovember 2, 2017

Facebook’s quarterly profit jumped as the tech giant revealed larger than expected advertising growth amid controversy over Russia-linked content that appeared on its platform. Total revenue rose 47 percent to$10.3bn (£7.8bn) due to a 49 percent rise in advertising sales to $10.1bn in the quarter to the end of September – that beat analysts’ expectations of $9.7bn, according to FactSet. Facebook said […]

Samsung makes record profit of $109m a day as chip demand soars

Businessam StaffOctober 31, 2017

Electronics giant makes $10bn profit in just three months on the back of strong sales and relaunch of Galaxy smartphones Electronics logged a record profit of 11.2trn won – $10bn (£7.6bn) – in the July to September period, it said on Tuesday, its best for any quarter. The world’s biggest memory chip and smartphone maker […]

Alibaba-backed Best Inc cuts expected price range for U.S. IPO

Businessam StaffSeptember 19, 2017

Alibaba Group-backed Chinese logistics firm Best Inc on Tuesday slashed the expected price range of its U.S. initial public offering, one day before its market debut, suggesting tepid investor enthusiasm. Best expects its offering of 45 million American depository shares (ADS) to be priced at $10 to $11 per ADS, it said in a filing […]