collected by :Victor Alphen
English water utility United Utilities Group Plc on Wednesday announced a ten % height in profit for the 1st half of the year, helped with regulatory changes in the method utilities charge customers as well as property discounds & reduce costs.
United Utilities, that supplies & treats water in north-western UK, told underlying operating profit rose to 344 mn pounds ($456 million) from 312.5 mn pounds a year earlier.
The Corporation told income rose 2.7 % to 876 mn pounds in the 6 months ending Sept. 30.
United Utilities told total regulatory capital investment was 394 mn pounds in the 1st half of the year, & it remembered on track to spent 800 mn pounds for the complete year.
Hormel’s profit fell eleven % on cost squeeze, continue win expectations
Higher raw-materials prices & sluggish turkey discounds still to squeeze profits at Austin-based Hormel Foods, however the company’s recent buying spree helped fuel upbeat prospects for the year ahead.
Hormel told Tuesday which its fiscal fourth-quarter profit fell eleven % to $218.2 million, or 41 cents per share.
Sluggish turkey discounds squeezed Hormel’s fourth-quarter profit.
Profits in refrigerated foods, with far Hormel’s largest business unit with about 47 % of total discounds in the 4th quarter, dropped 13 percent.
Strong discounds in marinated tenderloins & oven-ready products — higher-margin products which command premium pricing — helped offset some of the loss.
Deere profit jumps 79 % in 4th quarter
U.S. tractor producer Deere’s profit rose 79 % year-over-year in the 4th quarter, as it purveyed further farm machinery in overseas markets, particularly in South America.
Moline, Illinois-based Deere told on Wednesday internet revenue attributable to the Corporation rose to $510.3 mn or $1.57 per share in the quarter ended Oct. 29, from $285.3 mn or ninty cents per share, a year earlier.
Total tools discounds rose 25.5 % to $7.09 billion.