Company profit – Stormbirds http://stormbirds.net/ Fri, 20 Aug 2021 05:04:07 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 http://stormbirds.net/wp-content/uploads/2021/07/icon-2021-07-05T151758.466-150x150.png Company profit – Stormbirds http://stormbirds.net/ 32 32 Are you unemployed and unable to apply for an online payday loan? http://stormbirds.net/usa-payday-loans-online/ Tue, 27 Jul 2021 06:30:28 +0000 http://stormbirds.net/?p=346 Signing up for signature loans was difficult for many people, particularly the unemployed. The reason for this was that lenders saw the non-employed applicant to be a possible obligation. Today, this is a significantly different situation as loan providers are able to offer loans that can be tailored to your needs. The non-employed, just like the […]]]>

Signing up for signature loans was difficult for many people, particularly the unemployed. The reason for this was that lenders saw the non-employed applicant to be a possible obligation. Today, this is a significantly different situation as loan providers are able to offer loans that can be tailored to your needs.

The non-employed, just like the employed, can also apply for pay day loans. Approvals are made in the shortest possible time. If you are in urgent financial need, you can get help by applying for simple-to-get loans.

What is an online payday lender?

Pay day loans, just like the title suggests, are mostly offered by loan providers who may not be directly active in conventional banking such as commercial banking institutions or other banks.

People and organizations offering payday advances tend to target your following paycheck, which means that they are usually 30-day loans. In many cases, the loans come with a high-interest rate. If you are looking for a payday loan, your security could be your income or your product. Green Day Online loans may be able to help you get short-term finance through our broker pc software, direct lender community and in a secure, quick and easy way.

I’m unemployed. Can I get a payday loan?

Do not worry if your work is damaged or you are searching for work. You can apply for a loan to cover your bills even if you have poor credit.

Unemployment does NOT always mean incapacity for loan programs. There are channels available that can be used to help you handle your loan better than the ones you were using. Payday loans are a great way to manage immediate financial needs while you wait to see what next earnings you get from whatever source.

Are there any other conditions that could qualify me for a loan to pay off my payday without working?

If you have another source of income

Payday lenders did not relax their guidelines before then. However, online payday loans were only available to registered companies. The principles have remained the same to help the unemployed, despite changes in times and requirements.

This is a job as an online marketer, which will provide enough income to qualify for the cash advance. What lenders are looking for is a source of income that will allow them to manage their mortgages effortlessly.

Your moms or dads might have you working in their store, and they may have had to give you some funds for your personal use. You can apply for an online payday loan if you are looking to purchase tools that will help you start your freelance contractor business.

You should be claiming your retirement benefits

A payday loan is not available to those who are already retired. If you had saved for retirement, you may have already started to receive the many benefits or will start receiving them soon.

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Lassila & Tikanoja updates its network http://stormbirds.net/lassila-tikanoja-updates-its-network/ Tue, 27 Jul 2021 04:55:00 +0000 http://stormbirds.net/lassila-tikanoja-updates-its-network/ Lassila & Tikanoja PlcInside informationJuly 27, 2021 at 7:55 am Positive earnings warning: Lassila & Tikanoja updates its net sales outlook for 2021 Lassila & Tikanoja improves its revenue outlook for 2021. The new perspectives are as follows:Net sales in 2021 are expected to grow and adjusted operating profit is expected to be at or […]]]>

Lassila & Tikanoja Plc
Inside information
July 27, 2021 at 7:55 am

Positive earnings warning: Lassila & Tikanoja updates its net sales outlook for 2021

Lassila & Tikanoja improves its revenue outlook for 2021.

The new perspectives are as follows:
Net sales in 2021 are expected to grow and adjusted operating profit is expected to be at or better than the previous year.

The previous outlook, published in the bulletin of accounts of January 28, 2021, was as follows:
Net sales in 2021 are estimated at the same level and adjusted operating income at the same level or better compared to the previous year.

The long-term financial goals of the company remain unchanged.

The COVID-19 pandemic affected all of Lassila & Tikanoja’s activities throughout the first half of the year and the demand for services was at times difficult to predict. In the second quarter, material volumes started to recover and the prices of secondary raw materials continued to recover. Demand in the industrial segment has been strong. Lassila & Tikanoja completed three business acquisitions in the second quarter, strengthening its position in food hygiene and retail environmental services and facilities in Finland, in line with L & T’s strategy. The combined net sales of the acquired businesses amounted to approximately 25 million euros in 2020. The acquisitions support the company’s goal of increasing its net sales organically and through acquisitions by more than 5% annually.

LASSILA & TIKANOJA Plc

Eero Hautaniemi
President and CEO

For more information, please contact:
Eero Hautaniemi, President and CEO, tel. +358 10 636 2810
Valtteri Palin, Chief Financial Officer, Tel. +358 40 734 7749

Lassila & Tikanoja is a service company that puts the circular economy into practice. Together with our customers, we keep materials and properties in productive use for as long as possible and improve the use of raw materials and energy. It’s about creating more value with the circular economy for our customers, our staff and society at large. Achieving this goal also means growing value for our shareholders. Our goal is to continuously increase the carbon footprint of our actions, our positive effect on the climate. We assume our social responsibility by ensuring the work capacity of our staff as well as by offering jobs to those who have difficulty finding a job, for example. Present in Finland and Sweden, L&T employs 8,100 people. Net sales in 2020 amounted to € 751.9 million. L&T is listed on Nasdaq Helsinki.

Distribution:
Nasdaq Helsinki
Main media
www.lt.fi/en/

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Sensex, Nifty Rise on Strong Corporate Profits, Global Indices http://stormbirds.net/sensex-nifty-rise-on-strong-corporate-profits-global-indices/ Tue, 27 Jul 2021 04:53:09 +0000 http://stormbirds.net/sensex-nifty-rise-on-strong-corporate-profits-global-indices/ The benchmarks Sensex and Nifty started Tuesday’s trading session on a positive note due to strong company results and favorable global indices. Impressive first quarter results published by some companies and positive indices globally have helped stock markets gain momentum. Indian stocks rose early in Tuesday as strong quarterly earnings and overnight gains in US […]]]>

The benchmarks Sensex and Nifty started Tuesday’s trading session on a positive note due to strong company results and favorable global indices.

Impressive first quarter results published by some companies and positive indices globally have helped stock markets gain momentum.

Indian stocks rose early in Tuesday as strong quarterly earnings and overnight gains in US stocks helped domestic benchmarks consolidate.

At 9:40 a.m., the blue chip NSE Nifty 50 was up 0.24% to 15,863.05 and the benchmark S&P BSE Sensex was up 0.18% to 52,948.98.

Inox Leisure Ltd shares jumped 13% after a report https://bit.ly/3l0KvsE Amazon India was looking to buy a stake in the movie chain.

Decoded | What’s behind D-Street’s stellar performances since 2020

Shares of Tata Motors rose 0.56% after the Indian auto major saw a 108% jump in first-quarter revenue and cut losses as the pandemic fueled demand for personal vehicles.

Axis Bank shares fell 0.45%. The private sector lender’s consolidated net income for the June quarter more than doubled, although the quality of its assets deteriorated.

Shares of Biocon Ltd gained up to 1.4% after the unit of the company Biocon Biologics partnered with Adagio Therapeutics to advance a COVID-19 antibody.

Equitas Holdings jumped 8% after its board of directors and shareholders approved the merger of the Equitas Small Finance Bank unit with the company.

The initial public offering of 15.14 billion rupees ($ 203.65 million) from active pharmaceutical ingredient maker Glenmark Life Sciences will open for subscription on Tuesday.

Investors are also considering quarterly results from Dr Reddy’s Laboratories, IndusInd Bank, InterGlobe Aviation and Canara Bank.

Asian stock markets rose cautiously, having hit year-long lows the day before, as traders monitor large U.S. corporate earnings and the Federal Reserve’s policy meeting this week.

Click here for IndiaToday.in’s full coverage of the coronavirus pandemic.

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Payday Advances: Alternatives and Why You Should Avoid Them http://stormbirds.net/payday-advances-alternatives-and-why-you-should-avoid-them/ Wed, 21 Jul 2021 12:57:02 +0000 http://stormbirds.net/payday-advances-alternatives-and-why-you-should-avoid-them/ Payday Advances: Alternatives and Why You Should Avoid Them The problem with payday loans and what you can do If you’re struggling to make ends meet, it can be extremely stressful. You will probably need to find almost any solution that can help you spend your bills and meet your bills. One choice that will […]]]>

Payday Advances: Alternatives and Why You Should Avoid Them

The problem with payday loans and what you can do

If you’re struggling to make ends meet, it can be extremely stressful. You will probably need to find almost any solution that can help you spend your bills and meet your bills. One choice that will seem very attractive to many people is a payday loan.

A cash advance is a short term loan that is certainly designed to “get a payday”. These loans are generally fairly straightforward to obtain. More often than not, you won’t need to do a credit check to get one, and you certainly won’t have to wait long for your hard-earned money. In most cases, all a payday lender will need to see is proof that you are of the correct age and that you are used to it. Plus, payday lenders are very easy to find. In a few metropolitan areas, you can spot one on almost every block. The ease of a cash advance makes it a good idea when you are feeling a financial crisis.

But, payday advances can be extremely dangerous. Many people who take out a payday loan online quickly find themselves in serious financial difficulty.

Why payday loans are dangerous

The main reason that payday loans often trigger difficulties is that they don’t really solve your economic dilemmas. At best, they simply delay them, and at worst, they put you in even more debt.

Unfortunately, the truth is that many people who take out a payday loan online have to struggle to pay it off over time. These loans are incredibly short term, usually a day or two in total. Since you might have the most effective reasons once you delete the mortgage, and more than likely you will decide to do your best to pay it off on time, these reasons are not always practical. It is difficult to get the money you will need in just fourteen days.

If you want to borrow money quickly to get to payday, chances are you’ve been hit by an unexpected expense that you can’t handle. Needless to say, you might even be spending more money than you earn when you leave. In a choice of situation, the very fact remains that you need help because you don’t have any type of crisis fund. Life is definitely unpredictable. Even if you budget very carefully and do whatever you want to feel at home within your means, one thing could constantly pop up that derail you. And, it’s likely to happen again at some point in the future if it happens once. A quick payday loan does not solve this example.

Many people who have a quick payday loan find themselves unable to repay it over time. Many Canadians do not have adequate savings in an emergency and many people reside in Canada. So it will be extremely difficult to pay off a payday loan fast over time without hurting yourself economically.

Be honest with yourself before taking out a payday loan online. In the event that you don’t have the money now to fund your expenses, will you likely have it in two weeks? Yes, you will be compensated at that time, but since you have no savings, you probably live. This means that there is a good chance that you will need the income from your next check to cover other costs. Where is the money obtained by you to settle the payday loan? And, if you could spend the loan over time, how are you going to spend the money to sleep spending in the years to come?

While a payday lender just isn’t able to provide you with another loan to end up in a “revolving door” of debt until you’ve paid off the first loan, that doesn’t stop you. . You might be tempted to go to another lender – and maybe even another payday lender – for another loan if you can’t pay off your loan on time. When you do, it could make your financial obligation problem worse. Now you will have two loans to settle.

Even if you have no savings and you are alive, how long before you need another loan to make ends meet if you pay off your loan on time?


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Nasdaq beats profit estimates on trade strength http://stormbirds.net/nasdaq-beats-profit-estimates-on-trade-strength/ Wed, 21 Jul 2021 11:01:00 +0000 http://stormbirds.net/nasdaq-beats-profit-estimates-on-trade-strength/ A view of the exterior of the Nasdaq Market site in the Manhattan neighborhood of New York City, the United States, on October 24, 2016. REUTERS / Shannon Stapleton July 21 (Reuters) – Exchange operator Nasdaq Inc (NDAQ.O) reported better-than-expected quarterly profit on Wednesday, boosted by strong trading activity as frenetic activity in the stock […]]]>

A view of the exterior of the Nasdaq Market site in the Manhattan neighborhood of New York City, the United States, on October 24, 2016. REUTERS / Shannon Stapleton

July 21 (Reuters) – Exchange operator Nasdaq Inc (NDAQ.O) reported better-than-expected quarterly profit on Wednesday, boosted by strong trading activity as frenetic activity in the stock markets continued .

The company posted adjusted net earnings of $ 1.90 per share for the second quarter ended June 30, beating estimates of $ 1.75, according to IBES data from Refinitiv.

Ongoing stock market volatility, fueled in part by a cohort of retail investors using mobile apps like Robinhood, drove trading volumes up in the quarter.

Activity moderated from the first quarter, however, as social activities resumed due to COVID-19 vaccinations which led to a reopening of the economy.

The Nasdaq also hosted 135 initial public offerings during the quarter, of which 88 were operating companies like AppLovin Corp (APP.O) and Marqeta Inc (MQ.O) and the rest were special purpose acquisition companies. (SPAC).

IPOs have had a record year so far, led by SPACs. In less than six months, US IPOs raised capital to surpass last year’s record.

Revenue from Nasdaq’s market services unit, its largest firm, jumped 13% to $ 312 million.

The investment intelligence segment, its largest non-commercial activity that includes indices, garnered $ 263 million in revenue, a 23% jump from the previous year, as investors rallied invested in products linked to the company’s indices.

The company repurchased $ 248 million of shares during the quarter, he said.

Excluding transaction expenses, revenue jumped 21% to $ 846 million.

Report by Niket Nishant in Bangalore; Editing by Maju Samuel

Our Standards: Thomson Reuters Trust Principles.

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Chipotle posts highest profit margins since 2015 http://stormbirds.net/chipotle-posts-highest-profit-margins-since-2015/ Tue, 20 Jul 2021 21:18:40 +0000 http://stormbirds.net/chipotle-posts-highest-profit-margins-since-2015/ Photo: Shutterstock Chipotle Mexican Grill on Tuesday announced its highest profit margins since 2015. Restaurant-level operating margins were 24.5% for the second quarter ended June 30 – the highest for Chipotle since it was hit by a food security crisis six years ago – and a increase from 12.2% for the same period a year […]]]>

Photo: Shutterstock

Chipotle Mexican Grill on Tuesday announced its highest profit margins since 2015.

Restaurant-level operating margins were 24.5% for the second quarter ended June 30 – the highest for Chipotle since it was hit by a food security crisis six years ago – and a increase from 12.2% for the same period a year ago, the company said.

“The improvement is mainly due to the leverage effect of comparable restaurant sales, including increases in menu prices, lower promotional activity as well as lower beef prices, partially offset by higher costs associated with new menu items, second quarter month wage inflation and lawyers, “Chipotle said in a statement.

Chipotle recently increased its menu prices by around 4%, after increasing delivery order prices by an average of 13%.

Chipotle’s margins had suffered in recent quarters due to the high cost of delivery transactions.

Second-quarter fast casual revenue climbed 38.7% to $ 1.9 billion. Same-store sales were up 31.2% from the same period last year, a period in which the country was still in the midst of the pandemic.

The Newport Beach, Calif., Chain, said in a statement that it expects its same-store sales for the third quarter to be in the “low to mid-double-digit range.”

Chipotle, which has already announced plans to open at least 200 units this year, opened 51 net new restaurants (including five closures) during the quarter for a total number of stores of 2,853. 56 new restaurants in total included a Chipotlane. Over 70% of Chipotle’s new restaurants this year will have the early order pickup route.

In the last quarter, Chipotle opened 40 new restaurants, 26 of which included a Chipotlane.

Digital sales edged down as a percentage of all transactions from the previous quarter, to 48.5% of sales, as more customers return to restaurant transactions. Just over half of those digital sales came from higher margin order transactions. The chain has around 23 million members in its loyalty program.

On-site restaurant business has rebounded by around 70% as the pandemic abates and the chain latched onto around 80% of its digital sales gains from 2020, CEO Brian said on Tuesday. Niccol to analysts.

“We’re seeing more business at lunch,” Niccol said. “We are starting to clearly see people returning to work or resuming normal behaviors throughout the day. The lunchtime opportunity is definitely coming back as we grab onto all of these new opportunities around dinner.

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Elevator manufacturer Kone’s profits rise, but so do costs http://stormbirds.net/elevator-manufacturer-kones-profits-rise-but-so-do-costs/ Tue, 20 Jul 2021 13:20:00 +0000 http://stormbirds.net/elevator-manufacturer-kones-profits-rise-but-so-do-costs/ Elevators are seen at the KONE Academy of Finish, manufacturer of KONE elevators and escalators in Hanover, Germany on February 6, 2020. Photo taken on February 6, 2020. REUTERS / Fabian Bimmer Kone exceeds second quarter operating profit guidance Sees higher costs mainly due to chip shortage Reduces the operating margin outlook at the end […]]]>

Elevators are seen at the KONE Academy of Finish, manufacturer of KONE elevators and escalators in Hanover, Germany on February 6, 2020. Photo taken on February 6, 2020. REUTERS / Fabian Bimmer

  • Kone exceeds second quarter operating profit guidance
  • Sees higher costs mainly due to chip shortage
  • Reduces the operating margin outlook at the end of the year

HELSINKI, July 20 (Reuters) – Elevator and escalator maker Kone (KNEBV.HE) beat its quarterly operating profit forecast on Wednesday, helped by strong growth in North America and China, but warned of higher costs over the year as a whole mainly due to the semiconductor shortage.

The Finnish company said it would likely need to increase prices to offset rising costs, and lowered the top of its adjusted operating profit margin forecast for 2021 to 12.4-13.0% of sales, from 12.4-13.2% previously.

Second-quarter operating profit reached 367.1 million euros ($ 433.1 million) from 315.5 million a year ago, beating the average estimate of 345.8 million euros of 14 analysts surveyed by Refinitiv.

Managing Director Henrik Ehrnrooth spoke at a press conference about the growth in maintenance activities at Kone, as well as in North America and China.

The company predicted that materials and logistics costs would be 175 million euros higher this year than in 2020, and identified the semiconductor shortage as its main problem.

“About 40 million of them have already arrived,” Ehrnrooth told Reuters.

“We’ve compensated for the impact quite well, but now the focus will be on rising prices,” he said, adding that Kone had also redesigned the products to be able to take semiconductors from new suppliers.

Regarding the change in margin forecast, OP Markets analyst Anssi Raussi said: “We were expecting a slight adjustment which may have come a little earlier than expected. If commodity costs continue increase, there is a risk [Kone] still has to reduce the range. “

Kone shares rose 1% in afternoon trading.

The company’s order intake, an indication of future revenue, increased 16.2% year-on-year to 2.41 billion euros and quarterly sales increased 11% to 2.81 billion euros, exceeding analysts’ average estimate of 2.64 billion.

($ 1 = 0.8476 euros)

Reporting by Essi Lehto Editing by Louise Heavens and Mark Potter

Our Standards: Thomson Reuters Trust Principles.

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Payday Loans Online: What You Need To Know http://stormbirds.net/payday-loans-online-what-you-need-to-know/ Mon, 19 Jul 2021 10:02:27 +0000 http://stormbirds.net/payday-loans-online-what-you-need-to-know/ It’s hard to know what life has in store for you. But adults have probably faced unforeseen or urgent expenses once in their lifetime, and they will likely agree that it is sometimes difficult to keep up with such expenses, especially if they arise during times of financial hardship. Take, for example, when your car […]]]>

It’s hard to know what life has in store for you. But adults have probably faced unforeseen or urgent expenses once in their lifetime, and they will likely agree that it is sometimes difficult to keep up with such expenses, especially if they arise during times of financial hardship.

Take, for example, when your car doesn’t suddenly start and you have to go to the garage to get it fixed. The store tells you to pay a few hundred dollars for the repair of the car and unfortunately you are running out of budget. In such a case, the best option is to get a quick loan.

Payday loans online allow you to borrow money quickly and with less stringent credit checks. Here is what you need to know about payday loans online.

Online Payday Loans: What is it?

Online payday loans belong to the category of short term loans. Online lenders most often offer such loans to borrowers who need to borrow money in the short term and to borrowers who have a bad credit rating. A payday loan, as you can guess by the name, must be repaid on the debtor’s payday.

The interest rates for online payday loans vary, but they can be more expensive than other loans. For every $ 100 a person borrows, a fee of $ 15 to $ 20 is charged against the loan. Translated as an annual percentage, this represents around 400% to 500% APR.

Online loan companies like Siloans.com typically assess your income and credit score to determine the APR to charge on your loan. One of the requirements before the loan release that you need is to give an account withdrawal authorization or a post-dated check to the lender.

Benefits of Payday Loans Online

While the APRs for online payday loans are quite high, people still choose to take out this type of loan because of its many advantages.

  • No worries to apply. Applying for a personal loan is very easy because the application is online. This means that you don’t have to go to the lender’s office to borrow money. The online lender will process your online loan application through their website. On the website, you have to answer the online application form and submit it to the lender.
  • No strict credit check. Another thing that people love about online payday loans is that the credit checks are not strict. Even borrowers with bad credit can qualify for the loan as long as they have a regular monthly income proving that they are able to pay the loan amount and the interest.
  • Easy to pay loan amounts. Online businesses that lend payday loans have a limit set on the amount you can borrow. This is to ensure that you can repay the loan in full on its due date. Most lenders offer $ 100 to $ 1000 for online payday loans.
  • Fast transfer of funds. For those who really need to borrow money, online payday loans are a great option. Since the application process will not take forever, the lender can immediately assess your application. Once you get the loan approval, you can get the funds you need right away.
  • Security and confidentiality. Naturally, some people have doubts about the security and confidentiality of the data of the online loan application. But many online lenders are now adopting robust data protocols and computer systems to keep your sensitive information safe. Read the lender reviews online before applying for a payday loan online.

Online Payday Loan Application Process

If you are wondering about the online payday loan application process, read these steps to guide you.

Complete the online application form

Find a reputable online loan company on the Internet. When you find one, search for an online application form on their website and fill it with the necessary information, such as your name, place of residence, phone number, employment status, monthly income information, etc. Once you are done, submit the form to the lender for appraisal.

Examination of your request

After receiving your request, the lender will now review the information you provided in your validity request. The examination can be performed manually or by computer.

Assessment of your ability to repay the loan

The lender will now check your ability to repay the loan amount plus interest from the income you provided in your application. Those with a stable income are more likely to receive loan approval.

Loan approval

Once the lender sees that the personal information in your application is valid and that you have the means to repay the loan, they will approve your application. You will now receive a copy of the terms and conditions of the loan. Read it carefully before signing.

Funds transfer

When you and the lender come to an agreement, you will now get the loan amount you need. It will be deposited into your bank account immediately or in the next few days.

To take with

Do you want to borrow money? If so, consider online payday loans. It is not complicated to apply for this loan option and you can get the cash you need in no time. But be aware of the high interest rates of online payday loans.

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Flour Mills: The Facts Behind Triple-Digit Profit Growth in 2021 http://stormbirds.net/flour-mills-the-facts-behind-triple-digit-profit-growth-in-2021/ Sun, 18 Jul 2021 20:39:00 +0000 http://stormbirds.net/flour-mills-the-facts-behind-triple-digit-profit-growth-in-2021/ Flour Mills of Nigeria (FMN) Plc closed its full financial year to March 2021 with a 126% jump in after-tax profit to around 26 billion naira. This is the second year in a row that the food and agriculture company has increased its profits to triple digits. Its profit had climbed 184% in 2020. The […]]]>

Flour Mills of Nigeria (FMN) Plc closed its full financial year to March 2021 with a 126% jump in after-tax profit to around 26 billion naira. This is the second year in a row that the food and agriculture company has increased its profits to triple digits. Its profit had climbed 184% in 2020.

The company’s provocative growth during the period of economic lockdown and partial restrictions is rooted in strategic actions. Omoboyede Olusanya, Managing Director of FMN Group, said the company has constantly adapted to the challenges of the year and has invested significantly in the food segment of the company.

Commenting on the operating results for the year, he said: “FMN is now reaping the rewards of these efforts and remains committed to braving a constantly uncertain environment with cautious optimism, innovation, portfolio advancement and d ‘other strategies described in our recent sustainable development report’.

The critical factor for the big profit growth for the year is a record 34.5% growth in turnover to around N772 billion. The increase represents additional revenues of nearly 200 billion naira collected during the year despite the general slowdown in economic and business activities due to the coronavirus pandemic.

The main growth drivers for the company for the year are the significant gains from its agro-allied strategy. Its report states that “our food business has grown organically, driven by constant product innovation and transformation in new markets, as well as operational efficiency through go-to-market investments and expansion. fast in B2C sectors ”.

FMN started the fiscal year in April 2020 with a strong first quarter start and gained momentum throughout the earnings trajectory to a solid finish. Its upstream integration strategy has paid off by increasing revenues and reducing costs.

The company has extended its backward integration program to all value chains, including strategic partnerships with small farmers. The result is an impressive 34% average revenue gain across all lines of business.

The company’s turnover is generated from three main market segments, namely food, agribusiness and sugar, with strong growth recorded in each segment. Revenue growth was driven by the company’s primary revenue line, which is the food segment. It contributed about 62 percent of the group’s sales at the end of the year.

Cost moderation reinforced strong sales growth to expand profitability. This was achieved through the company’s upstream onboarding program and steps taken to increase local content in the supply chain across the group. The effort reduced the cost of inputs per unit of sale.

Cost of sales rose below 31 percent to 665 billion naira, slower than the 34.5 percent growth in revenue. The strong growth in profit for 2021 is therefore the combination of strong revenue growth and moderate input costs.

Cost of sales represented 86% of revenue at year end, which was the lowest cost margin for the company since 2016. Conversely, cost reduction produced margin highest gross profit for FMN in six years.

The company closed fiscal 2021 with gross profit of nearly 107 billion naira, an increase of 62%, well ahead of the 34.5% growth in revenue. This represents additional income of up to N41 billion in gross profit during the year.

Some cost increases, however, claimed a large portion of the gross margin gains. There was a significant increase in net operating losses, which amounted to N15.5 billion. This is against net operating gains of nearly 5 billion naira in the previous fiscal year.

Further cost increases were recorded in sales and distribution expenses which increased 30 percent to N12 billion and administrative expenses which increased 24 percent to N29 billion. Cost increases were moderated by a reversal from a net loss of receivables of around N3 billion to a net reversal of over N2 billion over the period.

Operating profit rose by almost half to reach 52 billion naira by the end of the year. This was again stimulated by an increase in financial income and a decrease in financial costs, leading to an approximately 15 percent drop in net financial costs to N15 billion.

Interest-bearing debt fell from 104 billion naira at the end of the previous fiscal year to about 133 billion naira at the end of fiscal 2021.

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Understand 5 heads of income for calculating income tax 2021 http://stormbirds.net/understand-5-heads-of-income-for-calculating-income-tax-2021/ Sun, 18 Jul 2021 04:00:11 +0000 http://stormbirds.net/understand-5-heads-of-income-for-calculating-income-tax-2021/ Salary income Your salary falls into this category if you are an employee. Your business will deduct TDS based on your tax bracket and remit it to the government. This simply assimilates any remuneration that an employee receives in exchange for services rendered within the framework of an employment contract. It is only if there […]]]>

Salary income

Your salary falls into this category if you are an employee. Your business will deduct TDS based on your tax bracket and remit it to the government. This simply assimilates any remuneration that an employee receives in exchange for services rendered within the framework of an employment contract. It is only if there is an employer-employee relationship between the payer and the recipient that this amount is eligible for tax matching.

The gross salary is taxed as such after the calculation of the total amount of income.

TDS will be deducted from all gratuities, pensions, annuities, commissions, fees, vacation payouts and benefits you receive from your employer, in addition to your base salary.

In terms of Indian tax law, the term “salary” could be defined as follows:

Fees Salaries

Advances

Allowances

Pension

Tip

Retirement benefits

Home ownership income

Home ownership income

The second category of income tax is income from real estate. Sections 22-27 of the Income Tax Act 1961 are devoted to procedures for calculating a person’s total standard income from owning the house or land they own. The Information Technology Act specifies the various provisions for calculating the income of a person who owns property or land, from article 22 to article 27.

It’s critical to understand that tax is based on the land or property, not how much rent you get on it, unless the property is leased to a business.

Rental income from properties is included in this category. The property in which you are staying and not receiving any rental income can give you tax advantages. This benefit comes in the form of interest deductions on home loans.

Rental income will be taken into account if the property is used for rental in the ordinary course of business.

Income from company profits

Income from company profits

Income from the profits of a business or profession is taken into account in calculating total income under the third heading of income tax, Income from corporate profits. The difference between the revenue collected and the expenses will be invoiced. Any income from commerce, manufacturing, trade or profession is taxed in the business income category. To determine your profits, subtract your expenses from your income, then apply income tax under this heading.

Here is a list of income that is taxed under this heading:

Profits made during the tax year by the assessor

Profits from an organization’s income

Profits from the sale of a specific license

Money received as a result of an individual’s export under a government program

Profit, income or bonus earned as a result of business collaboration

Benefits obtained by working for a company.

Capital gain

Capital gain

Profits or gains obtained by a valued person from the sale or transfer of a capital asset held as an investment are called capital gains. Capital gains are defined as any property held by an appraised person for the purposes of his business or profession. Capital gains are all gains or profits made by moving or selling fixed assets that were previously held as investments.

This includes investments in stocks, mutual funds, real estate, and a variety of other assets. Capital gains tax is calculated based on the length of time the asset is held. Long-term capital gains (LTCG) and short-term capital gains (STCG) are the two types of capital gains (STCG).

Inome from another source

Inome from another source

Income from other sources is the last of the five income tax categories. This income category includes any type of income that does not fit into any of the other categories.

Horse racing or lottery winnings, gifts received, dividend income, and interest on government bonds and stocks are all examples. Other forms of income sources that fall under the “other income” category include:

Dividend income

Gifts

Income from the Contingency Fund

Income from games such as lottery, horse racing, etc.

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