Global Banking News-October 17, 2016--Saudi Arabia's National Commercial Bank misses profit forecasts
LUFTHANSA sent a chill through the European airline industry after it cut profit forecasts
for two years and warned over falling fares on its European and American routes.
The latest profit forecasts
are improvements on the September forecast which anticipated an industry net profit of $11.
The Irish group, which has routinely beaten profit forecasts
in recent years, said it now expects its full-year net profit to be at the bottom end of its previously guided range of 570-600 mln euros ($750-789 mln).
FASHION firm Next upped profit forecasts
again yesterday after scaling back their summer sale.
RESILIENT trading in its high street stores helped WH Smith stick by profit forecasts
for the year.
His comments came as he said the group was on course to hit City profit forecasts
of around pounds 470million.
Japanese video games giant Nintendo slashed its profit forecasts
after it confirmed its new 3D handheld console will not be released before Christmas.
But the retailer lowered its full-year sales and operating profit forecasts
, citing sluggish consumer demand and a decline in average customer spending due to lower-priced products.
The profit forecasts
include 24 cents per share in spending on investments in irreversible electroporation technology, or IRE.
As initial high hopes for the use of Splenda in US carbonated diet drinks evaporated, analysts slashed profit forecasts
for its year to March 2007 and beyond - only a month after the company had reassured investors in a trading update.
Market forces are pressuring companies to provide year-over-year revenue growth and profitability improvements, while increasing the predictability of revenue and profit forecasts