Relocation costs cuts Electrolux profits
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Electrolux, the world's largest maker of household appliances, said on Monday that operating income fell 34.3 per cent in 2004 as the company faced almost SEK2 billion ($290 million) in charges to relocate ...
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The company said the cuts are part of a move to consolidate three regional divisions and decentralize buying in an effort to reduce costs and lift sales.
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Compass Group saw its share price slump by almost 25 percent after the British catering group warned future annual profits would be reduced by 30 million pounds (43.9 million euros, 53.5 million dollars).
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An Electrolux cooker factory in County Durham is to close with the loss of 500 jobs, it is confirmed.
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Electrolux AB, the world's biggest maker of home appliances, reduced its profit forecast for the rest of the year on Thursday, citing rising steel prices.
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STOCKHOLM  - Electrolux AB, the world's biggest maker of household appliances, said Wednesday that its profit outlook for the rest of 2004 would be lower than forecast, in part because of rising prices for raw materials like steel and extreme competition with other white-goods manufacturers.
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Electrolux will shift more of its manufacturing to low-cost countries, dismaying its unions but boosting its share price by 14 percent as it grapples with rising raw material prices and stiff competition.
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The company said that one-time costs and a recall of Easy-Bake Ovens drove its second-quarter profit well below year-ago results.
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WASHINGTON (CBS.MW) -- Costs of a new retiree benefit plan will reduce BellSouth&#39;s fourth-quarter profits, the company said Wednesday.
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Quarterly net profit fell to $81 million, from $133 million a year earlier, as the company took charges related to restructuring and disposing of some vending machines.
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The company has signalled profits of between Â£285 million and Â£295 million, down on Â£311 million a year ago, following a poor run of sales.
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Electrolux AB, the world&#39;s biggest maker of household appliances, said second-half profit will be less than forecast as costs for materials including steel surge.
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Altria Group Inc.  posted lower quarterly profit on Wednesday, due in part to costs for closing a U.S. cigarette plant as it moves some production to Europe to cut costs and reduce excess capacity.
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Salton Inc. SFP.N, a maker of  household appliances, on Wednesday reported wider quarterly  losses as hefty restructuring charges more than offset higher  revenue.
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The job cuts are a part of the company&#39;s efforts to shift its focus to business services and cut costs amid the competitive long-distance telephone services market.
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Electrolux  said on Thursday it had agreed to inject $35 million over five years into the pension fund of workers laid off by the world's second-biggest home appliances maker in the United States.
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Fisher &amp; Paykel Appliances Holdings Ltd., New Zealand&#39;s biggest home appliance maker, said first-half profit fell 1.2 percent because of a decline in sales in its largest markets, and higher costs for steel and plastics.