The Zurich subsidiary of the French group Rothschild & Co posted a net outflow of 211 million Swiss francs in 2017. “This development did not meet our expectations,” said bank chief Laurent Gagnebin on Friday in an interview with the French-French newspaper “l’Agefi”. The main reason for the decline was outflows from two specialized funds.
Nonetheless, the assets under management of the Zurich Private Bank increased, mainly due to the good development on the financial markets. At the end of December, they grew by 3.4 percent to CHF 12.2 billion.
Taking into account the Swiss business managed by Rothschild & Co’s London subsidiary, the volume on the Swiss platform of the group amounted to 26 billion euros. Inflows were mainly from England, Germany and Switzerland, it was said.
2018 “very good” start
The Rothschild Bank has changed the reporting in 2017 to the calendar year, after completing the financial year before each March. Overall, Gagnebin was satisfied with the 2017 business review.
The Rothschild Bank has improved its profitability. In addition, the year 2018 started “very well”. The increased market volatility of recent months has led to an increase in customer activity, says Gagnebin.
The startup blacksmith Rocket Internet started the new year with black numbers.
The holding company of the brothers Samwer was able to earn a consolidated profit of 75 million euros, as the company announced on Tuesday in Berlin. By contrast, 2017 was a year of losses for the company, which has been listed in the MDAX since March. In the first quarter of the previous year, Rocket Internet had still suffered a deficit of 86 million euros. Sales climbed from 9 to 10 million euros year-on-year.
Continue reading “Rocket Internet starts the new year with black numbers”
The start-up blacksmith Rocket Internet from Berlin keeps an eye on the profit zone for certain holdings after further reduced losses in 2017. “For 2018, we expect further progress,” said CEO Oliver Samwer on Friday. Specifically, he did not want to commit himself, however, from what time which money should contribute to the coffers.
“Most companies are strong enough to formulate their own goals.” The past year has been very successful, emphasized Samwer. Rocket had failed to reach the goal of bringing three of his companies to profitability.
HelloFresh and Delivery Hero want in the black
The cooking box sender HelloFresh and the food delivery service Delivery Hero announced in recent weeks that they want to hit the black in the current business this year. Both companies have been listed since last year. According to media reports, the furniture retailer Home24 and the African retailer Jumia go public, but Samwer did not want to comment on that.
Continue reading “Rocket Internet has an eye on the 2018 profit zone”
Investors seem to prepare for the tougher times in the future of Astro Malaysia Holdings Bhd as the media broadcasting scene continues to change.
Besides the shifting of the media consumption habits, there is also a thought that the satellite broadcasting business is all capital inclusive in nature, particularly from the content costs and the need to continue investments in broadcasting technology.
The Star reported that against this background, the company’s shares in the past week has dropped to nearly its lowest point since it was listed in 2012 with its shares closed at RM2.18 in Friday, down four sen after hitting RM2.16 on Tuesday.
There are yet exact or official statistics available on how rapid people are moving from paying for satellite television subscription and opting for a streaming service over the web.
Continue reading “Astro Malaysia slides as web streaming is demanding”
Nestle (Malaysia) Bhd posted its highest fourth-quarter net profit of RM133.54 million on the back of continued sustainable cost management and different phasing of marketing investments in 2017.
According to The Edge, its net profit for the financial year 2017 (FY17) was RM645.8 million, up 1.36 per cent from RM637.13 million in FY16, while its revenue climbed 3.89 per cent to RM5.26 billion from RM5.06 billion in FY16.
The group also proposed a final dividend of RM1.35.
However, despite the good results, analysts view were mixed on Nestle’s ratings.
Continue reading “Analysts mixed on Nestle’s ratings despite it hits record high after posting 4Q results”