IN BRIEF (Page 17)

China Daily | Updated: 2008-05-15 07:42

ING dips

Dutch financial services group ING Groep reported a bigger-than-expected 19 percent drop in quarterly net profit, hit by weaker returns from real estate, private equity and market investments.

First-quarter net profit was 1.54 billion euros, compared with 1.89 billion euros a year earlier, ING said yesterday. The average expectation of 12 analysts polled by Reuters was 1.66 billion euros.

Deutsche Post net falls

Mail and express delivery company Deutsche Post AG saw first quarter net profit fall 18 percent as its Postbank unit lost earnings tied to the financial markets crisis, the German mail and logistics company said yesterday.

Bonn-based Deutsche Post said net profit for the quarter from January through March fell to 407 million euros from 499 million euros in the year ago quarter.

AMEC ups outlook

British engineer and project manager AMEC Plc said yesterday it expected to perform slightly better than expected in 2008 following strong trading so far this year.

AMEC said it remained confident it would reach its earnings before interest, tax and amortization margin target of 6 percent in 2008, while current expectations for 2009 remain unchanged. "AMEC has made an excellent start to 2008 and each of our core divisions is progressing well," Chief Executive Samir Brikho said in a statement.

Agencies

(China Daily 05/15/2008 page17)