SGS H1 Earnings Rise

‘Better Call Saul’ Season 6, Episode 9 Recap: Bye Bye Love

Kim and Gus make some difficult decisions of the heart. Mike goes on a mission of mercy.

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By David Segal

Big mutual fund buys in June see turbulence

Equity mutual funds (MFs) deployed maximum in shares of Reliance Industries (RIL) in June at Rs 2,177 crore, followed by Maruti Suzuki (Rs 2,045 crore) and Bharti Airtel (Rs 1,310 crore).

Shares of both RIL and Bharti Airtel have been turbulent this month.

On July 1, shares of RIL crashed over 7 per cent, following the government imposing windfall taxes on domestic crude oil production and fuel exports.

Shares of Airtel, too, declined this month amid uncertainty around Adani’s foray into the telecommunications sector.

Maruti Suzuki shares, however, continued to race ahead on the back of improved outlook for the automotive sector.

NTPC and HDFC were among the top five buys for equity MFs in June. Fund managers used the weakness in these two counters to accumulate more shares.

Tata Steel saw maximum selling by domestic funds in June at Rs 876 crore, leading to an 18 per cent drop in the country’s leading steelmaker.

MFs pulled out over Rs 600 crore each from Ambuja Cements and State Bank of India.

Equity MFs net-bought shares worth Rs 22,000 crore last month, even as overseas funds yanked out Rs 49,400 crore.

Trevor Noah Mocks Joe Biden for That Fist Bump

Noah called the president’s choice how to greet Prince Mohammed bin Salman of Saudi Arabia “the whitest decision of all time.”

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By Trish Bendix

Alstom Q1 Sales Up 8%

Alstom (AOMFF.PK,ALS.L) reported that its first quarter sales rose 8% to 4.00 billion euros from 3.70 billion euros last year. The company confirmed full year outlook and mid-term 2024/25 objectives.

The company booked 5.6 billion euros of orders in the latest quarter.

The backlog, as of 30 June 2022, settled at 83.4 billion euros, providing strong visibility on future sales.

Looking ahead for 2022/23, the company still expects progressive aEBIT margin increase compared to fiscal year 2021/22 through healthy order intake and sound backlog execution. It still expects sales growth supported by solid order backlog and Book to bill ratio above 1.

By 2024/25, Alstom aims to grow its market share by 5 percentage points by leveraging its unique strategic positioning, supported by its enlarged group momentum and its competitive offering.

The company expects adjusted EBIT margin should reach between 8% and 10% from 2024/25 onwards, benefiting from operational excellence initiatives.

Between 2020/21 – and 2024/25, Alstom aims at sales Compound Annual Growth Rate over 5% supported by strong market momentum and unparalleled 83.4 billion euros backlog as of 30 June 2022, securing sales of about 35 billion euros to 37 billion euros over the next three years.

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IntegraFin Posts Robust Q3 Of Inflows On To Its Platform

IntegraFin Holdings plc (IHP.L) posted third quarter gross inflows of 1.7 billion pounds. Net inflows over the same period were 1.0 billion pounds. Average daily funds under direction for the quarter was 51.9 billion pounds.

The Group said its gross inflows and net inflows for the financial year to date remain ahead of the prior year comparative.

IntegraFin noted that the rate at which new clients and advisers are joining the platform remains consistently strong and provides a solid basis for ongoing platform growth.

Telenor Q2 EBITDA Before Other Items Rises; Service Revenues Up 1.5% On Organic Basis

Telenor (TELNY.PK,TELN) reported a second quarter net loss attributable to equity holders of 1.11 billion Norwegian Kroner compared to profit of 2.19 billion Kroner, prior year. The company noted that its result was impacted by currency losses of 2.3 billion Kroner and the impairment related to Pakistan. Reported EBITDA before other items was 12.5 billion Kroner, an increase of 1.2%. Organic EBITDA increased by 0.3%, for the quarter.

Revenues were 28.04 billion Norwegian Kroner compared to 27.16 billion Kroner, last year. Organic revenue growth was 2.2%, for the quarter. Organic service revenue growth was 1.5%.

For 2022, the company expects low single digit growth in organic service revenues, organic EBITDA around 2021 level.

SGS H1 Earnings Rise

SGS SA (SGSOY.PK), a Swiss laboratory service provider, on Tuesday posted a rise in earnings for the first half, amidst a rise in sales, citing pricing initiatives to pass on cost inflation.

For the six-month period to June, the company’s profit attributable to equity holders was CHF 276 million or CHF 36.71 per share, compared with CHF 272 million or CHF 36.27 per share of last year.

Adjusted profit attributable to equity holders was CHF 303 million or CHF 40.37 per share, higher than CHF 292 million or CHF 38.87 per share, year-over-year basis.

EBITDA was breakeven at CHF 678 million, compared with the first half of 2021, whereas adjusted EBITDA moved up to CHF 694 million, from last year’s CHF 686 million.

Operating income or EBIT was at CHF 423 million as against CHF 430 million reported a year ago.

The Geneva-headquartered firm’s sales for the period climbed to CHF3.25 billion, from CHF 3.09 billion of previous year period.

Looking ahead, for the full year, the Group expects a mid-single digit organic growth. It also sees improvement in adjusted operating income with margin at a similar level to prior year.

For the fiscal 2021, SGS had posted its adjusted operating earnings at CHF 1.05 billion.