alcatellucent surprises with recovery gains shares jump
Last Updated : GMT 22:50:36
Arab Today, arab today
Arab Today, arab today

Alcatel-Lucent surprises with recovery gains, shares jump

Arab Today, arab today

Arab Today, arab today Alcatel-Lucent surprises with recovery gains, shares jump

Alcatel-Lucent
Paris - AFP

Telecommunications equipment group Alcatel-Lucent, fighting back from a series of crises, surprised with the extent of its success in cutting losses, in quarterly results on Thursday.
The price of shares in the company, a leading provider of Internet and mobile phone technology, shot up by 9.15 percent to 2.23 euros in early trading.
That compared with a rise of 0.43 percent for the overall French CAC 40 index.
The third-quarter loss was 18 million euros ($22.6 million) whereas analysts had expected about 54 million euros. And after adjustments for special factors and charges, the loss was 9.0 million euros.
Alcatel-Lucent, which has said that this recovery programme is a last-chance effort, said in a statement that the group's net loss of 18 million euros in the quarter was "an improvement of 182 million euros compared to the third quarter of Q3 2013".
This had been achieved with an improvement in operating profits and reduced restructuring and financial costs.
Chief executive Michel Combes who introduced a recovery programme called "The Shift Plan", when he was appointed to turn the group around, said that the main target was to generate spare cash on a lasting basis from next year.
The latest results "show that we are increasingly improving our underlying profitability, an important step towards this commitment".
Since a merger between French company Alcatel and US group Lucent, the group has lurched from crisis to recovery and jobs-cutting programme, beset by cultural and boardroom difficulties and a rise of competition from emerging countries and notably China.
But the group is now doing well in Asia.
However, in the third quarter, overall sales fell from the equivalent figure last year, by 12.0 percent to 3.25 billion euros, although once the division which manages services, which the group intends to sell, is stripped out, the fall was 3.8 percent.
Even so, operating profit rose to 170 million euros or 5.2 percent of sales  from 95 million euros at the same time last year.
The two core businesses of "core networking" and "access" provision had continued to improve their performance.
- New strategy -
Under the new strategy, the group is focusing on specialised activities, selling assets and cutting costs sharply.
The gross trading margin of 1.1 billion euros had risen to 34.0 percent of sales from 32.6 percent in the equivalent period last year.
Overall, the group had reduced fixed costs by 645 million euros which was two thirds of the cost target in the Shift plan.
In terms of global regions, only sales in the Asia-Pacific region rose, by 22.5 percent, thanks to the deployment of new-generation mobile telephone networks in China and strong business in Japan and Australia.
Sales in North America, disallowing the sale of the group's LGS subsidiary, fell by 14.0 percent owing to a drop of sales by the access division after a previously strong performance. Another factor was a fall in the need for traditional technologies for Internet communications.
A fall of 13.5 percent in sales in Europe reflected weakness in the division for managed services, the group said.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

alcatellucent surprises with recovery gains shares jump alcatellucent surprises with recovery gains shares jump

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

alcatellucent surprises with recovery gains shares jump alcatellucent surprises with recovery gains shares jump

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Prince's vision spurs new Cornwall village

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Presenter Sherine Ramahi proud of her career

GMT 06:46 2017 Sunday ,19 November

Presenter Sherine Ramahi proud of her career
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Hanan Metawe denies apology for “Major Treason”

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 06:13 2017 Friday ,17 November

Pope denounces healthcare inequality

GMT 05:18 2017 Thursday ,16 November

Boeing announces $27bn from flydubai

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday