29 October 2009 | The group’s recent third quarter results (27 October 09) saw BP comfortably exceeding analysts’ forecasts. While the global economic downturn continued to impact, an improved operational performance combined with additional cost savings helped to cushion the fall. Third quarter profits on an underlying replacement cost basis (strips out gains or losses in inventories held) declined to $4.98 billion, down 50.2pc over Q3 2008. Excluding exceptional items, profit fell to $4.67 billion, ahead of the consensus estimate at $3.25 billion. The fall in both oil and natural gas prices continued to sit at the heart of the downturn. In addition, profit margins at the group’s refining business remained under some pressure. However, despite the fall in profitability against last year, signs of improving operational performance continued to show through. Reported production for the quarter was 3.917 million barrels of oil equivalent per day (mboe/d), more than 7pc higher than for Q3 2008 - +4pc when adjusted for hurricanes during 2008.
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*Reckitt Benckiser Q3 results: Another polished performance
29 October 2009 | The group's recent third quarter results (27 October 09) saw the company retaining its reputation for reliability. Again, the company generated profits ahead of analysts' expectations – Q3 net profit rose to £357m (£285m – Q3 2008) against a consensus forecast of around £341m – but management was confident enough to raise its full year target for revenue growth to 6pc to 7pc against a previous target of 5pc to 6pc. Profit estimates were also raised to between 12pc and 13pc from 10pc to 11pc. Emerging markets again proved a growth driver, with strong free cash flow helping the company to reduce net debt (£423m against £1.1 billion as of 31Dec08).
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*BG Group Q3 results: International growth spurs a move towards the US dollar
29 October 2009 | The group’s recent third quarter results (
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*Pearson - Moving to the top of the class
27 October 2009 | The group’s recent third quarter update (
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*Autonomy - Searching for and finding growth
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