PUMA Q4 Profit Climbs; To Propose Dividend; Expects Better FY21 Than Last Year

Honda CB350RS launched

Honda has launched the new CB350RS in India at a price of ₹ 1.96 lakh (ex-showroom, pan-India). While based on the H’ness CB350, the CB350RS looks markedly different, which is evident in the shape of the front mudguard, redesigned LED headlamp, side panel, stubby tail section and upswept exhaust. The single piece, flat seat is all-new as well. Another aspect that sets this model apart is the smaller rear wheel and wider tyre.

Features like the switchgear and instrument cluster have been carried over from the standard CB350.

The CB350RS is powered by the same 349cc, single-cylinder engine as the H’ness CB350. Peak power and torque figures remain the same as well – 20.8hp at 5,500rpm and 30Nm of torque at 3,000rpm. The gearbox too is the same 5-speed unit and gets Honda’s Selectable Torque Control (HSTC) and an assist and slipper clutch, as well. The CB350RS also utilises the same cradle frame, telescopic fork and twin shock absorbers as the H’ness CB350. The Nissin brakes are shared as well, with a 310mm disc at the front and a 240mm disc at the back, with dual-channel ABS as standard.

Weighing in at 179kgs, the CB350RS is 2kgs less than the H’ness, while ground clearance has gone up by 2mm to 168mm. Seat height, on the other hand, remains the same at 800mm.

Stamp duty holiday ‘to be extended until June’ in huge boost for property market

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Chancellor Rishi Sunak will reportedly extend the stamp duty holiday until the end of June, in welcome news for UK property buyers. The fast-approaching March 31 deadline saw potentially thousands of buyers likely to miss the deadline completely, leading to a collapse in transactions. The property tax cut began in July last year and enables Britons to save up to £15,000.

The Chancellor has faced pressure from campaigners and backbencher MPs to extend the deadline for months with many concerned that the March 31 end date would create a “cliff edge”.

The Times has said that Mr Sunak will reveal more details of the SDLT holiday extension in his budget on March 3.

More to follow…

Reckitt Benckiser FY Adj. Operating Profit Declines; LFL Net Revenue Up 11.8%

Reckitt Benckiser (RBGPF.PK,RB.L) reported profit before income tax of 1.87 billion pounds for the 12 months ended 31 December 2020 compared to a loss of 2.11 billion pounds, prior year. Profit per share from continuing operations was 159.3 pence compared to a loss of 393.0 pence. Group adjusted operating profit declined to 3.30 billion pounds from 3.37 billion pounds. Adjusted earnings per share was 327.0 pence compared to 349.0 pence.

Fiscal 2020 net revenue was 13.99 billion pounds, a 11.8% growth on a LFL basis of which 9.6% was volume and 2.2% price/mix.

For 2021, the company expects: LFL revenue performance to be in the range of flat to up 2%; and an adjusted operating margin of broadly unchanged. Looking to the medium term, the company’s outlook remains unchanged.

Reckitt Benckiser declared a full year dividend per share of 174.6 pence, unchanged on 2019 and in line with guidance.

Chinese court rules that a woman's housework is worth $128 a month

  • A Chinese court ruled in a divorce case that a wife should get about $7,700 from her husband in compensation for five years of housework.
  • That's about $128 a month, or 10,000 yuan a year.
  • China has said its poorest earned an average 9,808 yuan per person a year in 2019, up from 3,416 yuan in 2015.

BEIJING — A Chinese court ruled in a divorce case that a wife should get about 50,000 Chinese yuan ($7,700) from her husband in compensation for five years of housework.

The ruling sparked an online debate this week about whether that was a fair price.

That's about $128 a month, or a little more than $1,500 a year. In Chinese currency terms, the payout is about 10,000 yuan a year.

China has said its poorest earned an average of 9,808 yuan per person a year in 2019. That figure is up from 3,416 yuan in 2015.

In this case, brought up in Beijing's southwestern Fangshan district, the wife's household work counted toward intangible property value, Judge Feng Miao told state media, according to a report Monday.

It was not immediately clear when the court ruling was made. But it was the first such decision that referenced new provisions in China's civil code that took effect in January.

PUMA Q4 Profit Climbs; To Propose Dividend; Expects Better FY21 Than Last Year

German sportswear firm Puma SE (PMMAF.PK) reported Wednesday that its fourth-quarter net earnings increased 38.8 percent to 24.7 million euros from 17.8 million euros last year. Earnings per share were up to 0.16 euro from 0.12 euro last year.

Operating result or EBIT improved 14.6 percent to 63 million euros. Gross profit margin improved to 48.0 percent from last year’s 47.3 percent, mainly due to better sell-through, less promotional activity and good inventory management.

Sales increased 2.8 percent on a reported basis and 9.1 percent at currency adjusted basis to 1.52 billion euros, despite COVID-19 related lockdown measures.

Further, the company will propose a dividend of 0.16 euro per share for 2020 at the Annual General Meeting.

Looking ahead, Chief Executive Officer said, “The pandemic is unfortunately still here and impacting our business. We do expect the negative impact to continue through the first and parts of the second quarter, but expect to see an improvement in the second half of the year. I am convinced that 2021 will be a better year for us than 2020.”