Electrolux issues profit warning
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Electrolux shares have tumbled after the world&#39;s largest maker of consumer electronics said profit in the second half of 2004 will be less than forecast.
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Nearly 400 profit warnings were issued by UK listed firms in 2007, including retailers and leisure companies.
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Electrolux, the world&#39;s largest maker of household appliances, said Thursday that earnings in the second half of 2004 would be below forecasts because of higher steel prices.
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Sichuan Changhong Electric Co&#39;s warning of an annual loss has caused many investors to worry about earnings for other listed companies this year.
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Electrolux, the world's biggest maker  of home appliances, warned on Thursday that soaring steel  prices would hit its second-half profits to the tune of 500  million crowns ($68 million).
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DaimlerChrysler AG&#39;s Mercedes Car Group Thursday warned that operating profit for this year will decline despite a rise in car sales, as it boosts spending to improve product quality.
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Jardine Lloyd Thompson shares plunged 20pc yesterday after it issued a profits warning just months after playing down an analyst&#39;s prediction of serious problems at the insurance broker.
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British services group Rentokil Initial Plc  warned on Thursday that weak retail trading would hit its quarterly profit, sending its shares down 24 percent to their lowest level for more than 12 years.
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Shares in Electrolux, the world's biggest household appliances maker, have surged by 20 percent after the company announced its 2006 net profit had more than doubled owing to strong sales and a successful restructuring plan.
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Electrolux AB, the world's biggest maker of household appliances, said Tuesday it would spin off its outdoor products unit as it reported a drop in fourth-quarter profit.
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Electrolux AB, the world's biggest maker of household appliances, said Wednesday it will close a manufacturing plant in France, eliminating 240 jobs.
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The maker of Colgate toothpaste and Irish Spring soap  warned that earnings for the second half of the year will fall  short of earlier forecasts due to high marketing costs.
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The retailer, led by the hedge fund manager Edward Lampert, warned that falling sales would force it to post fourth-quarter earnings well below analyst estimates.
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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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The electronics company warns on third-quarter earnings.
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Rentokil warned investors to expect lower profits for 2005 after reported a fall in profits for most of the 2004 and revealed it was finally washing its hands of parts of its UK hygiene business.
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Office Depot Inc. ODP.N on Tuesday  warned that profit for the rest of the year would fall short of  forecasts because of the string of hurricanes in Florida and  poor sales elsewhere, sending its stock down 6.5 percent.