IN BRIEF (Page 15)

Lender's loss

Credit Suisse Group, Switzerland's second-biggest bank, reported its first loss in almost five years on 5.3 billion Swiss francs ($5.2 billion) of writedowns linked to deteriorating credit markets.

The first- quarter loss was 2.15 billion francs, compared with a 2.73 billion-franc profit a year ago, the Zurich-based bank said in a statement yesterday.

Nintendo forecast

Nintendo Co, the world's biggest maker of handheld game players, forecast profit will rise 26 percent this year as its Wii console outsells rival machines.

Net income will probably reach 325 billion yen ($3.13 billion) in the 12 months to March 31, 2009, from 257.3 billion yen a year earlier, Nintendo said yesterday.

Income falls

SK Telecom Co, South Korea's biggest mobile-phone operator, posted profit that beat estimates after marketing expenses were lower than analysts projected.

First-quarter net income fell 3.4 percent to 382.9 billion won ($386 million), the Seoul-based carrier said yesterday. Sales rose 4.6 percent to 2.84 trillion won.

Canon trims sails

Canon Inc, the Japanese office equipment maker that gets about 80 percent of revenue from abroad, lowered its profit and sales forecasts as the yen's climb to a 12-year high erodes the value of overseas sales.

Net income will probably climb 2.4 percent to 500 billion yen ($4.8 billion) in 2008, compared with a previous forecast of 520 billion yen, the Tokyo-based company said yesterday.

Homebuilder dips

Persimmon Plc, the United Kingdom's largest homebuilder by market value, said sales have dropped 24 percent so far this year and new development has been halted because of sliding demand.

Revenue dropped to 1.37 billion pounds from 1.8 billion pounds and volumes have declined 18 percent, the York, England-based company said yesterday. Persimmon dropped the most in five years in London trading.

Boost for Fiat

Fiat SpA, Italy's largest manufacturer, said first-quarter profit rose 13 percent as the company boosted car sales outside its home market and delivered more trucks and tractors.

Net income advanced to 405 million euros from 358 million euros a year earlier, Turin, Italy-based Fiat said yesterday.

Peugeot advances

PSA Peugeot Citroen, Europe's second-largest carmaker, said first-quarter revenue rose 2.3 percent on increased demand from Russia and South America.

Sales rose to 15.2 billion euros ($24.1 billion) from 14.9 billion euros a year earlier, Paris-based Peugeot said yesterday.

Losing its fizz

Vranken Pommery Monopole SA, the world's second-largest champagne producer, said first-quarter revenue fell 0.7 percent after it reduced sales of wines and other products to focus on champagne.

Sales were 41.8 million euros, compared with 42.1 million euros a year earlier, the Reims, France-based company announced yesterday.

Pub proprietor plummets

Punch Taverns Plc, the largest UK pub landlord, said first-half profit declined 24 percent after the company sold outlets and a smoking ban and slowing consumer spending kept drinkers at home.

Net income fell to 87 million pounds, or 32.4 pence a share, in the 28 weeks ended March 1, from 113.8 million pounds, or 42.4 pence, a year earlier, Burton-on-Trent, England-based Punch said yesterday.

Agencies

(China Daily 04/25/2008 page15)