Toshiba Corp. FY21 Earnings Rise

Sage Group H1 Organic Operating Profit Rises; Organic Recurring Revenue Up 8%

Sage Group Plc (SGE.L) said it achieved a strong first half performance, in line with expectations. Organic operating profit increased by 4% to 184 million pounds, for the period. Organic total revenue increased by 5% to 924 million pounds. Organic recurring revenue was up 8% to 866 million pounds, driven by Sage Business Cloud growth of 21%.

Looking forward, Sage said its outlook remains unchanged. The Group continues to expect organic recurring revenue growth in the region of 8% to 9% in fiscal 2022.

First-half underlying operating profit was 183 million pounds, down 3%. Underlying earnings per share was 12.49 pence compared to 12.05 pence.

Statutory pretax profit was 189 million pounds compared to 190 million pounds, last year. Earnings per share increased to 14.68 pence from 13.19 pence. Revenue declined to 934 million pounds from 937 million pounds, last year.

The Group has increased the interim dividend by 4% to 6.3 pence. Going forwards, Sage will adopt a progressive dividend policy. The Group said it considers returning surplus capital to shareholders.

Ceconomy Q2 Adj. EBIT Loss Narrows; Backs Annual Guidance

Ceconomy AG (MTAGF.PK,MTTRY.PK), a German consumer electronics retailer, on Friday posted narrower loss for the second quarter, amidst a rise in revenue, supported by a recovery in brick-and-mortar business.

In addition, for the full year, the company has reaffirmed its outlook.

For the second quarter, Düsseldorf-headquartered firm reported an adjusted loss before interest and tax at 62 million euros, compared with a loss of 146 million euros a year ago.

For the first half of the fiscal, the retailer’s adjusted EBIT increased to 212 million euros, from 199 million euros last year.

The company’s sales for the second quarter moved up to 5 billion euros from 4.3 billion euros a year ago, whereas sales for the first six-month period were registered at 11.9 billion euros as against 11.8 billion euros in the prior year.

Looking ahead, Florian Wieser, CFO of Ceconomy, said, “Despite the persisting, extremely adverse conditions, we confirm our expectation of a very clear increase in adjusted EBIT and a slight increase in sales adjusted for currency effects and portfolio changes in the full year 2021-22.”

For the fiscal 2021, Ceconomy had posted its sales at 21.4 billion euros with adjusted EBIT of 237 million euros.

Deutsche Telekom Q1 Net Profit Climbs; Lifts FY Adj. EBITDA AL Outlook

Deutsche Telekom AG (DTEGY.PK) reported that its first quarter net profit climbed to 3.95 billion euros from 936 million euros in the previous year. The increase was primarily driven by the sale of 50 percent of the FTTH company GlasfaserPlus to IFM and the completion of the transaction in the Netherlands.

Adjusted net profit increased by 86.3 percent to 2.2 billion euros. Adjusted EBITDA AL grew 6.8 percent year-over-year to 9.9 billion euros.

Revenue for the first quarter increased 6.2 percent year-over-year to 28 billion euros, with service revenues growing even faster by 10 percent.

In organic terms – adjusted for exchange rate effects and changes in the composition of the Group – revenue increased by 1.7 percent, service revenue by 4.7 percent, and adjusted EBITDA AL by 2.4 percent.

The company now expects to post adjusted EBITDA AL of more than 36.6 billion euros in 2022, up from the previous guidance of around 36.5 billion euros. Free cash flow AL, which was expected to amount to around 10 billion euros, is now expected to exceed 10 billion euros.

Children’s Robes Recalled For Burn Risk

The U.S. Consumer Product Safety Commission announced recalls of certain children’s robes citing burn risks.

Ridgefield, New Jersey-based Linum Home Textiles LLC has called back about about 44,600 units of children’s robes as they fail to meet the federal flammability standards for children’s sleepwear, posing a risk of burn injuries to children.

Further, China-based importer NewCosplay recalled about 3,160 units of children’s robes for the same concern.

Linum Home Textiles’ recall involves children’s 100 percent cotton terry robes. The long-sleeved, hooded robes have two front pockets and a sewn-in, side-seam matching belt. The robes were sold in sizes small, medium and large and in white, navy, pink, gray and purple colors.

The robes, manufactured in Turkey, were sold online at Amazon.com, JCPenney.com, Kohls.com, and TorreyCommerce.com, among others, from July 2017 through April 2022 for between $25 and $40.

NewCosplay children’s robes were manufactured in China and sold online at www.newcosplay.net and www.amazon.com from December 2021 through March 2022 for between $14 and $30, depending on the style.

The long-sleeved robes are made of 100 percent micro polyester and were sold in sizes 3T through 12. The robes were sold in 22 different patterns.

However, no incidents or injuries have been reported related to the recalled products to date.

Consumers are urged to contact the respective companies for a full refund.

Toshiba Corp. FY21 Earnings Rise

Toshiba Corporation (TOSYY.PK,TOSBF.PK), a Japanese conglomerate, on Friday posted a rise in earnings for the fiscal 2021, amidst an increase in revenues.

For the 12-month period, the Tokyo-headquartered company reported a net income of 194.7 billion yen or 442.05 yen per share, compared with 114 billion yen or 251.25 yen per share, reported for the fiscal 2020.

Operating income was registered at 158.9 billion yen, higher than 104.4 billion yen of previous year. EBITDA also rose to 244.1 billion yen, from 189.6 billion yen during the corresponding year

Income from continuing operations before income taxes and non-controlling interest was at 239.1 billion yen, versus 153.5 billion yen, on year-on-year basis.

Commenting on the dividend, the company said it increased annual dividend by 30 yen from what was announced in February. “Dividend for FY2022 forecasted 130 yen as regular dividend and 160 yen as special dividend, annual total 290 yen.” it added.

Toshiba generated its net sales for the year at 3.337 trillion yen, compared with 3.054 trillion yen of last year.

Moving forward, for the fiscal 2022, the company expects to report a net income of 175 billion yen with an operating profit of 170 billion yen on sales of 3.300 trillion yen.

For the full year, Toshiba projects to pay a total annual dividend of 290 yen per share.