AMSTERDAM: IMCD N.V., a global leader in the distribution and formulation of speciality chemicals and ingredients, announced its full year 2023 results today. The company reported a gross profit of EUR 1,123 million, a 2% increase on a constant currency basis, and a free cash flow of EUR 554 million, a 28% increase from 2022.…
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Technology One reports record results and optimistic outlook
SYDNEY, AUSTRALIA: Technology One Ltd (ASX: TNE), a leading provider of enterprise software solutions, today conducted its Annual General Meeting and announced its financial results for the fiscal year 2023. The company achieved a total annual recurring revenue (ARR) growth of 23%, reaching a record $392.9 million. Its profit before tax (PBT) also increased by…
Freightways reports 12.4% revenue growth in HY24 despite challenges
SYDNEY, AUSTRALIA: Freightways, a leading express package and business mail operator in New Zealand and Australia, announced its half-year results for the period ended 31 December 2023, showing a 12.4% increase in revenue and a stable dividend policy. The company’s revenue rose to $421.5 million, driven by growth across both its express package and business…
ArcelorMittal reports strong results for 2023 despite challenges
AMSTERDAM: ArcelorMittal, the world’s leading integrated steel and mining company, today announced its financial and operational results for the year 2023, highlighting its resilience and performance amid a challenging market environment. The Company posted an EBITDA of $7.6 billion and a net income of $0.9 billion for the year, reflecting structural improvements to profitability and…
SciDev CEO Seán Halpin outlines growth strategy and reports strong Q1 results
SYDNEY, AUSTRALIA: SciDev, a leading provider of water treatment and chemical solutions, has announced its future outlook and financial highlights for the first quarter of FY24 at its annual general meeting. The company’s CEO, Seán Halpin, said that SciDev is well positioned to continue to grow its operational and financial footprint across FY24, with a…
Outlook for insurance subsidiaries of United Heritage Financial Group revised to positive
OLDWICK: Insurance sector rating agency, AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb+” of United Heritage Life Insurance Company (UHLIC). Concurrently, AM Best has revised the outlooks to positive from stable and affirmed…
Outlook for Crusader Insurance Company and Unico American Corporation revised to negative
OLDWICK: Global rating agency AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb” of Crusader Insurance Company. Additionally, AM Best has revised the outlook to negative from stable and affirmed the Long-Term ICR of “bb”…
Outlooks for Singapore Reinsurance Corporation revised to negative
OLDWICK: Global rating agency, AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” of Singapore Reinsurance Corporation Limited. The ratings reflect Singapore Re’s balance sheet strength, which AM Best categorises as strong, as well as…
AM Best affirms credit ratings of Union Insurance Company with stable outlook
HONG KONG: AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Union Insurance Company Limited of Taiwan. The outlook of these Credit Ratings is stable. The ratings reflect Union’s balance sheet strength, which AM Best categorises as very strong, as well as its adequate…