Archive for ‘sending’

23/04/2020

Unilever withdraws guidance as virus knocks China, ice cream sales slide

(Reuters) – Consumer goods giant Unilever Plc (ULVR.L) (UNA.AS) withdrew its full-year forecast on Thursday, saying the hit from lockdowns in China and India, as well as lower ice cream sales, offset strong U.S. and European sales of cleaning items, sending its shares down 5%.

Underlying sales across Asia, the Middle East and Russia, fell 3.7%, as lockdowns in the quarter restricted restaurant visits and shopping in China and led to factory shutdowns that halted production in India.

In Europe, Turkey and Latin America, Unilever’s 3 billion euro ice cream business was hit by national efforts to prevent the spread of the coronavirus, deterring distributors in holiday destinations from buying stock.

“Many of our classic out-of-home retailers like leisure sites, travel hubs, beaches and tourist destinations were closed,” Chief Financial Officer Graeme Pitkethly said on a call.

These factors countered increased sales in the United States and Europe, where consumers stocked up on laundry detergents, Domestos bleach, Cif cleaning products and personal hygiene items, as the virus spread to those regions.

Overall, first-quarter turnover rose 0.2% to 12.40 billion euros ($13.42 billion), slightly missing the estimate of 12.77 billion euros based on analysts polled by Factset.

The company withdrew its sales performance targets for the year, which forecast growth at the lower end of a 3%-5% range, saying it could not “reliably assess the impact” of the virus, , although it said it would still pay its interim dividend.

Jefferies analysts said investors would be asking why Unilever “has apparently been hit so badly, and early, by the negative impacts of COVID-19 without seeing much of the positives. We expect a difficult day for the shares.”

Shares in Unilever, which joins spirits maker Diageo (DGE.L) and other consumer goods companies in withdrawing guidance, was down 5.5% at 4,008 pence in early trading.

The Anglo-Dutch company’s report follows results from larger U.S. rival Procter & Gamble (PG.N), which last week said its U.S. sales had seen their biggest rise in decades.

Unilever also said underlying sales grew strongly in North America, rising 4.8% as shoppers stocked up on personal hygiene products, Knorr soups and Hellmann’s dressings.

In Europe, sales growth was led by Germany and Britain, although prices across the region fell.

“We are adapting to new demand patterns and are preparing for lasting changes in consumer behaviour, in each country, as we move out of the crisis and into recovery,” Unilever Chief Executive Alan Jope said in a statement.

The company said it was directing a chunk of its 500 million euro package to support suppliers towards its ice cream distribution partners, which Pitkethly called the “jewel” in its supplier relationships.

Source: Reuters

17/12/2019

Taiwan to build fighter jet centre in partnership with US, sending another defiant message to Beijing

  • Centre could make Taiwan more self-sufficient in its defence capability
  • Latest arms deal is further evidence of closer relations under presidencies of US’ Donald Trump and Taiwan’s Tsai Ing-wen
A Taiwanese F-16V takes off during a drill in May. Photo: EPA-EFE
A Taiwanese F-16V takes off during a drill in May. Photo: EPA-EFE
Taiwan

has further bolstered its defence links with the United States with plans to build an F-16 fighter jet maintenance centre, as the Taipei government continues to resist Beijing’s objective of unification.

The self-ruled island’s Aerospace Industrial Development Corporation (AIDC) and US defence contractor Lockheed Martin signed a strategic partnership agreement on Tuesday that aimed to promote the establishment of an F-16 fighter jet maintenance centre in Taiwan, to be completed by 2023.
It is the latest of several significant agreements with the US during Donald Trump’s presidency. Trump approved a US$2.2 billion arms sale on July 8 that included 108 American-made M1A2T Abrams tanks and 250 Stinger missiles.
He was quicker to approve F-16 sales than his predecessors, agreeing in August to sell the island 66 F-16V jets, which will mean Taiwan owns the most F-16s in the Asia-Pacific region.

Trump also approved, in September last year, a US$330 million deal to provide spare parts and other logistics for several types of the island’s military aircraft – less than a year after the US agreed to sell US$1.4 billion of missiles, torpedoes and an early warning system to Taiwan.

Beijing views Taiwan as a breakaway province to be reunited with the mainland by force if necessary.

‘Fighter jets trump battle tanks’ in Taiwan’s US arms priorities
Collin Koh, a research fellow at the S. Rajaratnam School of International Studies with Nanyang Technological University in Singapore, said the planned maintenance centre underlined how Taiwan-US military ties had become stronger under the more enthusiastic US administration of Trump and the Taiwanese presidency of

Tsai Ing-wen

.

“The [F-16 fighter jet maintenance] centre, by improving the availability and readiness of the F-16 fleet, allows Taiwan to sustain its combat aviation, not only for daily operation but also for training,” Koh said.

“This does represent a step up. Taiwan is no longer just an end-user operating the American hardware, but will also be empowered to service it. It is designed to help Taiwan achieve better defence self-sufficiency, one of the key pledges by the Tsai administration.”

Tang Shaocheng, a senior researcher in international relations at Taiwan’s National Cheng-chi University, said the increasingly close relations between Taipei and Washington made dealing with the island more tricky for Beijing.

Beijing ‘interferes daily’ in Taiwan’s election, says Tsai Ing-wen

“The Tsai administration cares about what the US thinks but not what Beijing thinks, paving the way for ever-closer ties,” Tang said. “That definitely leaves less room for Beijing to get Taipei into its orbit, by using various economic measures.”

Beijing has suspended exchanges with Taipei and staged a series of war games around Taiwan to intimidate the island since Tsai, of the independence-leaning Democratic Progressive Party, became president in 2016 and refused to accept its one-China policy.

Beijing has also tried to isolate Taiwan internationally by poaching its diplomatic allies
since Tsai took office, has repeatedly warned Washington against seeking closer military ties with Taipei, and has protested against every arms deal the two have made.
The US acknowledges the Chinese claim that it has sovereignty over Taiwan, which split from the mainland in 1949 and is self-governing. However, the US regards the status of Taiwan as unsettled and supports the island with arms sales and other measures, such as by sending warships through the Taiwan Strait that separates the island from China.

Source: SCMP

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