IN BRIEF (Page 16)
Analysts beaten
Dutch Philips Electronics beat analysts forecasts yesterday with a first-quarter operating profit that was depressed by overcapacity in flat LCD displays, and said little would change in the global consumer electronics marketplace.
Philips' earnings before interest and taxes (EBIT) came in at 292 million euros, compared with an average forecast of 267 million euros by 15 analysts polled by Reuters. EBIT in the year-ago period was 335 million euros.
Growing confidence
Australian businesses have become more confident about the outlook for the current quarter, with smaller firms the most optimistic, a survey showed yesterday.
The National Australia Bank's index of business confidence for the second quarter jumped to 10 points, from 4 points the previous quarter, significantly above historical averages.
Sales target
Japan's Nissan Motor Co expects to push back its target of selling 4.2 million vehicles in the fiscal year March 2009, a spokeswoman said yesterday.
The goal, which is part of the automaker's three-year "Value-Up" business plan unveiled in 2005, is now expected to be met one year later, she said.
The new target is expected to be officially announced on April 26 alongside Nissan's annual results.
Too pricey
Lufthansa Chief Executive, Wolfgang Mayrhuber, said on Monday that buying rival Spanish airline Iberia would be too expensive for the German flag carrier.
"Speculative prices are not financiable for us," Mayrhuber told an aviation industry summit, referring to Iberia's market value which has soared to 3.7 billion euros amid persistent takeover speculation.
Agencies
(China Daily 04/17/2007 page16)
