IN BRIEF (Page 16)

Teck down

Teck Cominco Ltd, the world's second-largest zinc producer, said third-quarter profit fell to C$490 million ($514 million) or C$1.14 a share.

A year earlier, net income was C$504 million, or C$1.16 a share, Vancouver-based Teck Cominco said yesterday.

Q3 profit climbs

StatoilHydro ASA, Norway's largest oil company, said third-quarter profit climbed 28 percent, boosted by record oil prices and currency gains.

Net income rose to 10.6 billion kroner ($1.98 billion), or 4.94 kroner a share, from 8.27 billion kroner, or 3.82 kroner, a year earlier, the Stavanger-based company said yesterday.

Offering mooted

OAO Sibur Holding, the petrochemicals arm of OAO Gazprom, may try to raise $1 billion in an initial share sale next summer, Vedomosti reported.

Sibur plans to spend as much as $5 billion during the next five years on acquisitions including fertilizer assets, the Moscow-based newspaper said yesterday, citing Chief Executive Officer Alexander Dyukov. A decision on the share sale will be made next year, he said.

Kansai declines

Kansai Electric Power Co, Japan's second-biggest utility, said first-half profit fell 19 percent as it burned more oil and gas to make up for lower hydropower output.

Net income dropped to 94.9 billion yen ($830 million) for the six months ended September 30, from 117 billion yen a year earlier, the company said yesterday.

Earnings rise

Nobel Biocare Holding AG, the world's largest maker of dental implants, said third-quarter earnings rose 7.3 percent as increased marketing efforts buoyed sales in Europe and Asia.

Net income rose to 35.5 million euros from 33.1 million euros a year earlier, the Glattbrugg, Switzerland-based company said yesterday.

Mousemaker falls

Logitech International SA, the world's largest maker of computer mice, said fiscal second-quarter profit fell 77 percent, citing losses from investments.

Net income in the quarter ended September 30 declined to $11.6 million, from $49.2 million a year earlier, Logitech said in a Business Wire statement yesterday. The company booked an impairment charge of $67.4 million on the value of short-term investments.

Takeda takes a tumble

Shares in Takeda Pharmaceutical Co Ltd plunged 12 percent - their biggest one-day fall in 20 years - after US authorities recommended it stop some trials of cholesterol-lowering TAK-475, one of its most promising drug candidates.

The surprise news led some analysts to cut their ratings on Japan's biggest drug maker and to slash or even eliminate the drug's potential earnings from their estimates for the company.

Metro cashes in

Metro AG, Germany's biggest retailer, raised its 2007 sales forecast thanks to strong growth in Eastern Europe and reported a 15 percent increase in third-quarter operating earnings on Tuesday.

But at home, where Metro garners about 40 percent of its revenue, like-for-like sales fell in three of four units and its Real food operation continued to lose money as it expanded.

Imperial increases

Imperial Tobacco Group Plc, the maker of John Player cigarettes, said full-year profit increased 6.3 percent after the company expanded into the United States with the $1.9 billion purchase of Commonwealth Brands.

Net income rose to 905 million pounds, or 133.7 pence a share, in the year through September, from 851 million pounds, or 121.6 pence, in the prior period, Bristol, England-based Imperial said yesterday.

Bloomberg News-Agencies

(China Daily 10/31/2007 page16)