EDF said its net profit in 2016 was 2.85 billion euros ($3.02 billion), lower than the EUR3.01 billion average expectation of 18 analysts polled by FactSet. The net profit in 2015 had plunged to EUR1.19 billion after the company booked one-time costs worth 3.64 billion euros. PARIS-- French state-controlled power utility Electricite de France SA (EDF.FR) said Tuesday its net profit fell short of expectations after a series of its nuclear reactors were halted for several weeks. EDF faces a series of ambitious investments including the construction of a nuclear power plant in the U.K. and the acquisition of a controlling stake in nuclear engineering firm Areva NP. The company expects its profitability to slide further in 2017 with an EBITDA of between EUR13.7 billion and EUR14.3 billion.
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Net profit after tax for the year was S$3.47 billion, down 11 per cent from the previous year. Net allowances for loans and other assets rose to S$305 million from $105 million the quarter before. SINGAPORE: Oversea-Chinese Banking Corp (OCBC), Singapore's second-biggest lender, on Tuesday (Feb 14) reported a bigger-than-expected 18 per cent drop in quarterly net profit, weighed down by a 57 per cent jump in net allowances for loans and other assets. Non-interest income was down 4 per cent at S$926 million, as fee income growth was more than offset by lower net trading income and life assurance profit. Net interest income for the quarter was 7 per cent lower at S$1.25 billion, the bank said, citing the "continued compression" in customer loan yields.
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collected by :Jack Luxor
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Net profit after tax for the year was S$3.47 billion, down 11 per cent from the previous year. Net allowances for loans and other assets rose to S$305 million from $105 million the quarter before. SINGAPORE: Oversea-Chinese Banking Corp (OCBC), Singapore's second-biggest lender, on Tuesday (Feb 14) reported a bigger-than-expected 18 per cent drop in quarterly net profit, weighed down by a 57 per cent jump in net allowances for loans and other assets. Non-interest income was down 4 per cent at S$926 million, as fee income growth was more than offset by lower net trading income and life assurance profit. Net interest income for the quarter was 7 per cent lower at S$1.25 billion, the bank said, citing the "continued compression" in customer loan yields.
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collected by :Jack Luxor
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