IN BRIEF (Page 16)
Improvement anticipated
South Korea's LG Electronics Inc said yesterday it expected a sharp improvement in second-quarter earnings and added it was likely to show signs of a turnaround in its plasma screen business within months.
Chief Financial Officer James Jeong said the plasma display panel business' monthly earnings could break even between late in the second quarter and early third quarter.
Earnings slide
Lowe's Cos, the No 2 home improvement chain in the United States, on Monday reported a lower-than-expected first-quarter profit and pared its full-year earnings forecast as the slower US housing market pressures sales.
Earnings came to $739 million, or 48 cents a share, for the first quarter that ended May 4, down 12 percent from $841 million, or 53 cents, a year earlier.
Investor confidence
German investors took a more optimistic view this month of the outlook for Europe's biggest economy, encouraged by buoyant investment and job creation, the ZEW institute's survey showed yesterday.
The think tank said its economic sentiment indicator, based on a survey of 301 analysts and institutional investors, rose to 24 for May, in line with Reuters consensus forecast, from 16.5 in April.
Profitable printer
De La Rue Plc, the world's biggest printer of paper money, said fiscal full-year profit soared 38 percent as demand for passports and counterfeit-proof banknotes boosted production to near-maximum capacity.
Net income through March advanced to 70.2 million pounds or 42.9 pence a share, from 50.9 million pounds, or 29.4 pence, a year earlier, the Basingstoke, southern England-based company said.
Agencies-Bloomberg News
(China Daily 05/23/2007 page16)
