EUROPEAN EARNINGS: BT Group; ArcelorMittal

EUROPEAN EARNINGS

BT Group – Telecom firm reported 1Q12 revenues at GBP 4.5 b, a 6 percent y/y decline, which fell short of the GBP 4.6 b forecasted by analysts. The co.’s global services division, which constructs phone lines, saw revenues decline 9 percent to GBP 1.7 b. Pre tax profits rose 13 percent to GBP 548 m. The co. saw its subscriber base rise by 170,000. (Financial Times)

ArcelorMittal – Co. which forecast a decline in demand for steel saw its 1HY12 results decline 63 percent to USD 970 m vs USD 2.6 b on ay/y basis. Weak pricing and decline in deliveries of steel contributed to the dismal results. Sales declined 5 percent over the year to USD45.2 b. EBITDA came at USD 4.4 b, down 26 percent on a y/y basis. EPS declined 63 percent to USD 0.63 vs USD 1.68. Co. plans to trim operations of its plants in Europe. (Financial Times)



Categories: Earnings, European Earnings

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