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Ford’s 2015 profit jumps on stronger sales
– canadianbusiness.com
DEARBORN, Mich. – Improving sales in most of the world helped Ford Motor Co. achieve a record pretax profit in 2015, and the company says the numbers could go even higher this year.
Full-year pretax profit jumped 48 per cent to $10.8 billion as its global sales and market share grew. Ford’s U.S. sales reached their highest level in a decade, and its F-Series pickup remained the bestselling vehicle in the U.S. for the 34th straight year. A change in the way Ford accounts for its pension costs also boosted pretax results.
Bob Shanks, Ford’s chief financial officer, said 2015 was the “breakthrough year” Ford promised after it spent heavily in 2014 to build new plants in Asia and bring a new, aluminum-sided F-150 pickup to market in the U.S. Ford expects this year’s pretax profit to be equal or higher.
“We’ve been saying for quite some time that we are probably at a plateau at very high absolute levels,” he said. Shanks said low oil prices, low interest rates and a growing housing market in the U…
Full-year pretax profit jumped 48 per cent to $10.8 billion as its global sales and market share grew. Ford’s U.S. sales reached their highest level in a decade, and its F-Series pickup remained the bestselling vehicle in the U.S. for the 34th straight year. A change in the way Ford accounts for its pension costs also boosted pretax results.
Bob Shanks, Ford’s chief financial officer, said 2015 was the “breakthrough year” Ford promised after it spent heavily in 2014 to build new plants in Asia and bring a new, aluminum-sided F-150 pickup to market in the U.S. Ford expects this year’s pretax profit to be equal or higher.
“We’ve been saying for quite some time that we are probably at a plateau at very high absolute levels,” he said. Shanks said low oil prices, low interest rates and a growing housing market in the U…
Before the Bell: Markets mixed amid big earnings, Fed
– theglobeandmail.com
A look at overnight markets and what's ahead this trading day in North America
PotashCorp slashes dividend 34%, says Q4 profit was cut in half on lower sales
– canadianbusiness.com
SASKATOON – Canada’s largest potash producer is cutting its dividend by 34 per cent in response to weaker sales volumes and lower global fertiliser prices.
The announcement was included with the latest financial report from Potash Corporation of Saskatchewan (TSX:POT), which saw its fourth-quarter profit cut in half as a result of weak market conditions.
The Saskatoon-based company’s net income, reported in U.S. dollars, dropped to $201 million or 24 cents per share from $407 million or 49 cents per share in the fourth quarter of 2014.
The value of its sales dropped to US$1.35 billion in the fourth quarter of 2015 from US$1.9 billion a year earlier.
During the quarter, PotashCorp declared dividends worth 38 cents per share but the payout to sharehilders will fall to 25 cents per share with the May payment.
The company recently announced the closure of its new potash mine in New Bruswick, resulting in the loss of up to 430 jobs.
Besides potash, the company produces nitrogen-based and phosphates-based materials used in fertilisers to stimulate crop growth…
The announcement was included with the latest financial report from Potash Corporation of Saskatchewan (TSX:POT), which saw its fourth-quarter profit cut in half as a result of weak market conditions.
The Saskatoon-based company’s net income, reported in U.S. dollars, dropped to $201 million or 24 cents per share from $407 million or 49 cents per share in the fourth quarter of 2014.
The value of its sales dropped to US$1.35 billion in the fourth quarter of 2015 from US$1.9 billion a year earlier.
During the quarter, PotashCorp declared dividends worth 38 cents per share but the payout to sharehilders will fall to 25 cents per share with the May payment.
The company recently announced the closure of its new potash mine in New Bruswick, resulting in the loss of up to 430 jobs.
Besides potash, the company produces nitrogen-based and phosphates-based materials used in fertilisers to stimulate crop growth…
Potash Corp. slashes dividend as earnings fall more than expected
– theglobeandmail.com
Low crop prices reduce demand for crop nutrients
The biggest bank in Canada says it accidentally mailed hundreds of incorrect RRSP receipts to the wrong customers, exposing the names, addresses and social insurance numbers of those clients in the process.
