IN BRIEF (Page 16)

Tata tumbles

Tata Consultancy Services Ltd, the worst performer on India's benchmark equity index, fell by a record in Mumbai trading after it reported the slowest profit growth in 12 quarters and clients deferred orders.

India's biggest computer-services provider declined as much as 9.6 percent on the Bombay Stock Exchange, the biggest fall since its August 2004 trading debut.

Profit rises

Associated British Foods Plc, the maker of Twinings tea and Kingsmill bread, said first-half profit increased 33 percent after the company raised bread prices and more shoppers sought cut-price fashions at its Primark stores.

Net income rose to 202 million pounds, or 25.6 pence a share, in the year ended March 1, from 152 million pounds, or 19.2 pence, a year earlier, the London-based company said yesterday.

Software gains

Germany's Software AG said yesterday that its first-quarter net profit and sales rose on demand for its database programs and services, despite fears of a weakening world economy.

Darmstadt-based Software earned 22.5 million euros in the first quarter of 2008 compared with 17.8 million euros a year earlier, an increase of 26 percent.

Petards hoisted

Petards Group Plc, a UK maker of surveillance systems, had the biggest gain in more than 8 years in London trading after saying it is in talks with a number of unidentified parties about selling or refinancing the business.

Petards surged 0.16 pence, or 57 percent, to 0.44 pence at 9:33 am, the steepest gain since December 1999.

Job cuts

Logica Plc, the Anglo-Dutch computer-services provider, will cut about 3 percent of the workforce, or about 1,300 workers, to revive profit growth after a slump in sales in the United Kingdom.

The reductions are part of a plan to save about 80 million pounds a year by 2010, the London-based company said yesterday in a statement. Logica, which has about 39,000 employees, said it will meet a 2008 revenue growth forecast of about 3 percent.

Sinking feeling

Haulotte Group posted its biggest decline in five-and-a-half years in Paris trading after the maker of lifting platforms for building sites said first-quarter revenue fell 7.4 percent.

Haulotte, based in L'Horme, France, tumbled as much as 17 percent to 12.25 euros, the most since October 2002. The shares traded 12 percent lower at 12.92 euros as of 10.10 am, giving the company a market value of 444.8 million euros.

AirTran loss

AirTran Holdings Inc, the low-fare airline that flies mostly in the eastern United States, reported a first-quarter loss after fuel prices increased almost 50 percent.

AirTran had a net loss of $34.8 million, or 38 cents a share, compared with a profit of $2.16 million, or 2 cents, a year earlier, the Orlando, Florida-based company said.

DuPont jumps

DuPont Co, the third-biggest US chemical company, said first-quarter profit rose 26 percent as record grain prices boosted sales of pesticides and genetically modified corn and soybean seeds.

Net income climbed to $1.19 billion, or $1.31 a share, from $945 million, or $1.01, a year earlier, Wilmington, Delaware-based DuPont said.

FKI purchase

Melrose Plc, the UK investment company that owns the maker of handles for Gillette razors, agreed to buy FKI Plc for 478 million pounds in cash and shares to add a maker of turbo generators, conveyor belts and wires to tether offshore oil rigs.

The offer values London-based FKI at 81.3 pence a share, Melrose said yesterday.

Agencies

(China Daily 04/23/2008 page16)