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Ashmore Group profit down, revenue up

“Ashmore Group PLC (ASHM.LN) on Thursday reported a 6% fall in pretax profit for the first half of fiscal 2019 and said it has experienced a positive start to the year” writes Anthony O for marketwatch.com. Revenue rose to GBP148.2 million from GBP136.7 million, driven by an increase in net management fee income.Assets under management rose 10% to $76.7 billion with net inflows of $2.4 billion reflecting broad-based institutional client demand and continued growth in retail assets under management, the company said. Source: marketwatch.com

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Dunelm profit up; will buy stock ahead of Brexit

“Dunelm Group PLC (DNLM.LN) said Wednesday that first-half pretax profit rose 24% and that it is on track to meet analysts’ estimates, but warned that Brexit uncertainty has led it to start purchasing incremental stock” writes Adria Calatayud for marketwatch.com. Dunelm said it is confident of meeting market forecasts for full-year pretax profit of between GBP114 million and GBP118 million, assuming no material changes to the macroeconomic environment.Pretax profit for the six months to Dec. 29 was 70.0 million pounds ($90.1 million) compared with GBP56.3 million in the year-earlier period,…

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Tate & Lyle backs guidance, but sees softer EPS

“Tate & Lyle PLC (TATE.LN) said Thursday that group adjusted pretax profit in constant currency for the third quarter of fiscal 2019 was ahead of the year-earlier period and backed its full-year guidance” writes Oliver Griffin for marketwatch.com. The food ingredients company said its food-and-beverage solutions business performed well in the three months ended Dec. 31 and that adjusted operating profit in its sucralose business–which makes Splenda no-calorie sweetener–was ahead of the year-earlier period.The company said it backs guidance but expects earnings-per-share growth at the lower end of the mid-single-digit…

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ING’s fourth-quarter profits beat on higher interest income, commissions

“ING Groep, the largest Dutch financial group, on Wednesday reported better-than-expected fourth-quarter underlying pretax earnings of 1.69 billion euros ($1.93 billion), reflecting rising interest income, commissions and fees” writes unknown author for cnbc.com. Analysts polled for Reuters expected pretax earnings to come in at 1.57 billion euros for the three months ended Dec. 31, compared with 1.56 billion euros a year ago.ING said it had won new customers despite the scandal and seen net loan growth of 3.2 billion euros.Among key banking metrics, its net interest margin was 1.56 percent,…

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H&M fourth-quarter pretax profit lags consensus, keeps dividend unchanged

“Logo of H&M is seen in a display window of a store in Zurich Thomson Reuters STOCKHOLM (Reuters) – Swedish fashion retailer H&M reported on Thursday an unexpected fall in fiscal fourth-quarter pretax profit, hit by lingering costs to upgrade its logistics systems, but kept its annual dividend payout unchanged” reports businessinsider.com. Pretax profit in September through November shrank to 4.35 billion crowns ($482 million) from a year-ago 4.87 billion, against a mean forecast in a Reuters poll of analysts for an increase to 5.09 billion.H&M proposed an unchanged dividend…

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Hargreaves Lansdown profit up, but sentiment weak

“Hargreaves Lansdown PLC (HL.LN) said Tuesday that pretax profit rose 4.4% in the first half of fiscal 2019, and that assets under administration declined amid weak investor sentiment” writes Adria Calatayud for marketwatch.com. Hargreaves said the company generated net new business of GBP2.5 billion in the six months to Dec. 31.The company said its outlook for the second half of fiscal 2019–which is traditionally its stronger half for new business–is clouded by Brexit. Source: marketwatch.com

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UBS swings to profit, but misses expectations

“UBS Group AG UBS, +0.89% said Tuesday that it swung to a profit in the fourth quarter of the year but missed analysts’ expectations” writes Pietro Lombardi for marketwatch.com. In recent years UBS has shifted toward managing money for wealthy clients while streamlining its investment bank operations.Adjusted pretax profit for the quarter fell at UBS’s investment bank and at its key wealth-management business, with the latter reporting a 22% decline on year in adjusted pretax profit.The Swiss bank reported a net profit of $696 million for the quarter compared with…

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UBS posts fourth-quarter pre-tax profit miss, sees bumpy road ahead

“On an adjusted basis, fourth-quarter pre-tax profit fell to $860 million, under conditions Chief Executive Sergio Ermotti described as “historically tough”” writes Midwest Communications Inc for 95kqds.com. ZURICH (Reuters) – UBS on Tuesday posted a $862 million fourth-quarter pre-tax profit, hit by a slowdown in its flagship wealth management business and weaker earnings in its investment bank.Five analysts polled by Reuters on average had forecast a net profit of $4.906 billion for 2018.As clients removed risk from their portfolios, traded less and stocked up on cash amid geopolitical tensions, adjusted…

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UBS posts $690 million fourth-quarter pre-tax earnings, missing expectations

“FILE PHOTO: Logo of Swiss bank UBS is seen in Zurich Thomson Reuters ZURICH (Reuters) – UBS on Tuesday posted a $690 million fourth-quarter pre-tax profit, hit by a slowdown in its flagship wealth management business and weaker earnings in its investment bank” reports businessinsider.com. On an adjusted basis, fourth-quarter pre-tax profit fell to $862 million, less than the $1.038 billion forecast in the bank’s own analyst consensus summary.Full-year net profit rose to $4.897 billion from $969 million in 2017, when a one-off 2.9 billion franc hit from U.S. tax…

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Here’s how to use your FSA dollars before you lose them — and get a discount on supplies you’d need to buy anyway

“FSA Store It’s time to use or lose your FSA dollars” writes Mara Leighton for businessinsider.com. Storing money in an FSA account is a great deal, provided that you spend it; FSA operates on a use-it-or-lose-it provision.You must spend the money in your FSA account by the end of the year or risk losing it for good. Source: businessinsider.com

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