Mitsubishi UFJ Financial H1 Profit Declines; Raises Profit Outlook – Quick Facts

Edf 9-month Sales Down 4.0% Organically; Confirms Financial Targets – Quick Facts

Edf (EDFEF.PK) reported total Group sales of 48.85 billion euros for the first nine months compared to 50.96 billion euros, restated, previous year. The Group said its sales were down 4.0% organically compared to the first nine months of 2019, but were almost stable when excluding the effects of the health crisis. For the third quarter, sales were 14.1 billion euros, down 1.8% organically.

The Group noted that the health crisis has affected its sales by an estimated 2.0 billion euros at the end of September 2020, mainly due to lower nuclear output, the drop in demand affecting electricity distribution and supply activities, as well as the slowdown or postponement of on-site works and service activities with customers.

For fiscal 2020, the company continues to project EBITDA of 15.2 – 15.7 billion euros.

ENGIE 9-month Current Operating Income Declines; Confirms FY20 Guidance – Quick Facts

ENGIE (ENGQF.PK,ENGIY.PK) reported current operating income of 2.8 billion euros for the nine month period, a decrease of 27.9% on a reported basis and 24.3% on an organic basis from prior year. EBITDA was 6.2 billion euros, a decline of 13.0% on a gross basis and 9.7% on an organic basis.

For the nine month period, revenues were 39.6 billion euros, down 8.5% on a gross basis and 8.1% on an organic basis. The company said the organic revenue decrease was primarily driven by the Covid-19 crisis and mild temperatures, impacting mainly Supply and to a lesser extent, Client Solutions activities across all geographies, the termination of an LNG contract in North America and to a lesser degree lower distribution revenues in Networks.

For fiscal 2020, ENGIE expects: a net recurring income Group share between 1.7 billion euros and 1.9 billion euros. The guidance is based on an indicative EBITDA range of 9.0 billion euros to 9.2 billion euros and current operating income range of 4.2 billion euros to 4.4 billion euros.

The Board will decide on the dividend to be proposed at the time of the 2020 financial closing.

France to U.S: Don't withdraw from Afghanistan or Iraq

PARIS (Reuters) – France will make clear to U.S. Secretary of State Mike Pompeo during a visit to Paris next week that it opposes a unilateral American withdrawal from Afghanistan and Iraq given the fight against Islamist militancy, its foreign minister said on Friday.

Jean-Yves Le Drian and President Emmanuel Macron are due to meet Pompeo on Monday in the French capital.

Singulus Technologies 9-month Loss Widens

German optical disc maker Singulus Technologies AG (SGTSF.PK,SGTSY.PK) reported that its net loss for the nine-month period widened to 21.4 million euros from 1.9 million euros last year.

The EBIT in the first nine months were negative 20.6 million euros compared to positive 0.3 million euros in the previous year.

Sales for the nine-month period dropped to 21.9 million euros from the previous year’s 61.5 million euros.

The order backlog amounted to 75.3 million euros as of September 30, 2020 compared to 38.5 million euros in the prior year.

The company did not provide outlook for fiscal year 2020, due to uncertainty caused by the COVID-19 pandemic.

However, it can already be foreseen that in the fourth quarter of the current financial year there will probably only be a slight improvement in operational business activity, the company said.

Russian online retailer Ozon to raise about $750 million in IPO: sources

FILE PHOTO: A view shows the pick-up point of the Ozon online retailer in Moscow, Russia March 16, 2020. REUTERS/Evgenia Novozhenina

MOSCOW (Reuters) – Russian online retailer Ozon plans to raise about $750 million in an initial public offering (IPO) in the United States, three financial market sources told Reuters.

The company, which has already filed for an IPO, said this month it had planned to raise at least $500 million for the company’s expansion.

UK murderer known as 'Yorkshire ripper' has died – Sky

LONDON (Reuters) – British murderer Peter Sutcliffe, known as the Yorkshire Ripper for a five-year killing spree during which he stabbed and bludgeoned at least 13 women to death, has died, Sky said.

He was arrested in 1981 and pleaded guilty to 13 charges of murder and 7 charges of attempted murder. He spent the rest of his days in prison.

Tanzania Targets Annual Average GDP Growth of 8% Over Five Years

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Tanzanian President John Magufuli expects the nation’s economy to grow at an average rate of 8% over the next five years, partly due to increased government spending.

Expansion could increase from an annual average of 7% over the past five years, Magufuli said in his first address to lawmakers since he was re-elected for a second five-year term last month. Growth may fall to 4% this year from 7% previously due to the effects of the coronavirus pandemic.

Magufuli plans to boost the economy by ensuring macro stability, increasing public investment as well as improving the private business environment. The government will expand irrigation and purchase a freighter to increase shipments of horticulture products and fish.

Mitsubishi UFJ Financial H1 Profit Declines; Raises Profit Outlook – Quick Facts

Mitsubishi UFJ Financial Group, Inc. (MTU) reported first half profit attributable to owners of parent of 400.8 billion yen compared to 606.9 billion yen, previous year. Profits attributable to owners of parent decreased mainly due to increases in total credit costs and net periodic cost of retirement benefits. Earnings per share was 31.21 yen compared to 46.96 yen.

First half gross profit increased 6 percent year-on-year to 2.09 trillion yen. Gross profits increased mainly due to an increase in market related gains as well as an increase in net interest income reflecting consolidation of overseas subsidiaries. Net interest income was 966.5 billion yen compared to 934.1 billion yen.

Mitsubishi UFJ Financial revised upward its target for profits attributable to owners of parent for fiscal 2020 to 600.0 billion yen. The company’s fiscal 2020 dividend forecast is unchanged at 25 yen per common stock.