Company news in brief

ABN Amro surprises with Q3 resultsDutch bank ABN Amro reported a surprise 11% rise in third-quarter net profit at 673 million euros (US$780.3 million), as its loan book grew while expenses fell.Since its bailout by the Dutch state in 2008, the Netherlands' largest domestic lender has cut thousands of jobs and shut down branches as it focuses more on digital services.This process will continue. The bank expects to set aside a restructuring provision of 50-100 million euros in the fourth quarter.ABN Amro was re-privatised in 2015, but the Dutch state still owns 56% of its shares. – Nampa/ReutersImperial disposes of German chemicals unitSouth Africa's Imperial Holdings will sell its German chemicals unit, Schirm GmbH, to AECI for 110.5 million euro (US$128.15 million) as it focuses on developing its core businesses, it said yesterday.Schirm manufactures agrochemicals, which account for approximately 80% of its revenue, and fine chemicals. – Nampa/ReutersNissan hurt by North American marketNissan Motor Co posted a surprise drop in quarterly profit, hurt by higher expenses in an increasingly competitive North American market, and lowered its annual forecast citing costs related to improper final inspection procedures in Japan.Its operating profit came in at 128.5 billion yen for the July-September period, down from 163.9 billion yen a year ago.Vehicle sales in North America fell 3.3% to 502 000 units. In the US, Nissan's biggest market, sales slid 2.2% to 377 000 units. In China, Nissan's No.2 market, sales rose 8%. – Nampa/ReutersSnap Inc growth disappoints Wall StSnap Inc is redesigning its disappearing-message app Snapchat in an attempt to reach a broader audience, going back to the drawing board as Wall Street clobbered it for another quarter of slowing user growth.The Venice, California-based firm, whose March stock market debut was the hottest of any tech stock in years, posted a net loss of US$443.2 million, or 36 cents per share for the third quarter, compared with a loss of US$124.2 million, or 15 cents per share, a year earlier.Daily active users rose to 178 million from 173 million in the second quarter. Last week Facebook said that Instagram Stories - a replica of Snapchat's synonymous feature - had 300 million daily users. – Nampa/ReutersAnglo interested in Louis DreyfusMining giant Anglo American is among several companies interested in buying commodity trader Louis Dreyfus's metals business.Dreyfus started an official sale process for a stake in the business earlier this year. Its metals business had a book value of US$314 million as of 2016, according to filings.Chinese conglomerate HNA Holding Group Co has also shown an interest in the business, while Swiss steel trader Duferco is another possible bidder. Glencore is seen as a less likely bidder.BHP Billiton and Anglo American sharpened their marketing strategies to seek higher margins, after a deep commodity downturn in 2015 hit profitability. This includes moving into commodities trading. – Nampa/Reuters

Company news in brief

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Republikein 2025-06-19

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