profit rise

    • Carlsberg eyes higher profits as beer consumption rises

      Carlsberg eyes higher profits as beer consumption rises

      The leading Danish brewery company Carlsberg earmarked expectations of higher 2021 profits as beer consumption returned to its pre-pandemic levels. Carlsberg announced a 2% growth in the first six months of this year compared with the same period of 2019, Reuters elaborated. Sales in most countries of Western Europe were driven by hot weather in June, which was combined with the European soccer championship and the reopening of bars and restaurants after Covid-19 lockdowns.

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    • Saudi Aramco profits jump 300% to $25.5bn in Q2

      Saudi Aramco profits jump 300% to $25.5bn in Q2

      The major Saudi oil producer Saudi Aramco announced robust growth in net revenues by almost 300% in the second quarter of this year to 25.5 billion dollars. The jump in sales and profits was due to recovered demand coupled by higher prices of oil on international markets, BBC elaborated. Crude oil prices posted a rise of more than 30% since the start of 2021. Aramco's chief executive also gave a further positive forecast for the rest of 2021.

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    • HSBC profits spike to £7.8bn

      HSBC profits spike to £7.8bn

      The UK leading HSBC bank announced surging profits for the first six months of 2021 on the back of post-pandemic rebound both in Britain and in Hong Kong. The profits more than doubled in the envisaged period, BBC reported. HSBC said its pre-tax profit for the period spiked to £7.8bn. The UK bank said all regions brought profits in the period. The figures come as the global economy recovers from the impact of the coronavirus pandemic.

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    • Samsung Q2 profit spikes to $10bn

      Samsung Q2 profit spikes to $10bn

      The South Korean electronics conglomerate Samsung announced a 38% surge to $10 billion in operating profits as chips price rose and consumer and demand recovered from the Covid-19 economic downturn. The recovered investments in data centres also spurred the business activity of Samsung, Reuters reported.

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    • H&M returns to profit

      H&M returns to profit

      The world’s second-biggest fashion retailer H&M returned to a pretax profit of $419 million offsiting from a year-earlier loss of 6.48 billion in the year of pandemic, AP reported. Hennes & Mauritz announced its profit soared as many of its stores reopened worldwide. Total sales for the period 1 March -31 May 2021 increased by 75% compared with the same period a year earlier. The retailing company reported a loss of $760 million that period last year.

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    • TikTok pushes ByteDance revenue to $34.3bn

      TikTok pushes ByteDance revenue to $34.3bn

      ByteDance, the company behind the popular video app TikTok posted robust growth in sales, BBC reported. An internal memo released to staff showed that the firm's revenue rocketed by 111% to $34.3bn for 2020. TikTok has been probed in China, US and EU over allegations linked to privacy violations. Still ByteDance posted annual gross profit increase by 93% to $19bn. The memo also showed that ByteDance had around 1.9bn monthly active users across all of its platforms as of December last year.

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    • Pandemic trading boosts Alibaba revenue by 64% in Q1

      Pandemic trading boosts Alibaba revenue by 64% in Q1

      The Covid-19 pandemic boosted all business linked to online operations. The Chinese leading e-commerce giant Alibaba posted a robust growth in income and profits, which continued in the first quarter of 2021, Reuters reported. Alibaba posted a 64% surge in quarterly revenue, easily beating forecasts. Revenue rose to $29.03 billion in the three months ended 31 March 2021.

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    • Amazon Q1 profit triples as sales surge above $100bn

      Amazon Q1 profit triples as sales surge above $100bn

      The biggest e-commerce company in the world Amazon is also the biggest winner from pandemic, AP reported. Amazon continued to cruise on the pandemic online trading boom and sales in the first quarter of 2021 topped 100 billion dollars. The company noted that clients attracted to online ordering in the peak of pandemic, remained with the firm and kept on buying online even though Covid-19 retreated from their countries and regions and the pandemic-driven restrictions were eased.

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    • Bank of America profit rises to $8.1bn in Q1q 2021

      Bank of America profit rises to $8.1bn in Q1q 2021

      The post-pandemic economic recovery allowed Bank of America to spur its credit activities and post a profit of 8.1 billion dollars for the first quarter of 2021, Reuters reported. The positive financial results came as the bank unfolded funds that had been kept stashed for emergency operations as the pandemic was seen deteriorating economy. But with those fears behind its back, Bank of America was allowed it to release billions from its loan-loss reserves.

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