Danaher Corp. Q4 Profit Increases, beats estimates

Only IndiGo, Vistara fly more than pre-Covid peak in 2022

IndiGo carried 69.09 million passengers last year, compared to 67.9 million in 2019.

IndiGo and Vistara are the only two major airlines that managed to cross the pre-pandemic peak of annual domestic traffic in 2022, according to data released by the Directorate General of Civil Aviation (DGCA) on Thursday.

IndiGo carried 69.09 million passengers last year, compared to 67.9 million in 2019.

Meanwhile, Vistara carried 11.35 million passengers in 2022. The airline carried 7.44 million passengers in 2019.

In 2022, Go First carried 10.9 million passengers, which was 29 per cent less than its peak of 2019.

The country’s overall annual domestic traffic in 2022 stood at 123.24 million passengers, which was 14.5 per cent lower than the pre-pandemic high of 144.17 million in 2019.

Marston's 16-week Like-for-like Sales Rise About 13%

Marston’s Plc (MARS.L), a British pub and hotel operator, said on Tuesday that it has posted a rise in like-for-like sales for the 16-week period to January 21, amidst a firm demand, especially during festive and New Year season.

For the 16-week period, the retailer’s like-for-like sales grew by 12.9 percent from the same period of 2022.

For the five key festive days, including Christmas Eve, Christmas Day, Boxing Day, New Year’s Eve and New Year’s Day, like-for-like sales grew 26 percent from the same period of previous fiscal.

Total retail sales in the Group’s managed and franchised pubs were up 14 percent on last year as the drink sales continued to outperform food sales.

Looking ahead, Andrew Andrea, CEO, said: “…Whilst we still have certain cost challenges to navigate in 2023, we are well-positioned to continue to progress our strategy and are encouraged by the level of consumer resilience experienced to date.”

Swatch Group FY22 Profit Rises; Sees Strong Growth In FY23

Swiss watch and jewelry maker Swatch Group (SWGAF.PK,SWGNF.PK) reported Tuesday that its fiscal 2022 net income increased 6.3 percent to 823 million Swiss francs from last year’s 774 million francs.

Operating profit was 1.16 billion francs, up 13.4 percent from previous year’s 1.02 billion francs.

Net sales grew 2.5 percent to 7.50 billion francs from 7.31 billion francs a year ago. Net sales grew 4.6 percent at constant exchange rates.

Sales grew in all regions, with the exception of China, where Covid lockdowns resulted in sales shortfalls.

Further, the company said its Board of Directors, at its next meeting, will decide on the dividend proposal to the Annual General Meeting.

Looking ahead for fiscal 2023, Swatch Group said it aims to achieve a record year in view of the strong position of the brands in all segments worldwide and the robust numbers in January for Mainland China.

The company said, “Group Management anticipates strong sales growth in 2023 in all regions and segments. After the end of Covid measures, consumption quickly recovered, not only in China, but also in the surrounding markets of Hong Kong SAR and Macau. In addition, lifting of travel restrictions in China will revitalize sales in tourist destinations. The sales growth in January in China reinforces the Group’s expectation to aim for a record year in 2023.”

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Gold Inches Higher On Bets For Less Aggressive Fed

Gold prices were seeing modest gains on Tuesday, as the dollar stuck near a nine-month low versus the euro on bets the Federal Reserve will slow the pace of interest rate rises going ahead.

Spot gold edged up 0.2 percent to $1,934.90 per ounce, while U.S. gold futures were up 0.4 percent at $1,936.05.

Several Fed officials indicated in recent sessions that the U.S. central bank was making progress in its inflation fight and they were supportive of slowing the pace of rate rises to a more traditional quarter percentage point at the next policy meeting.

U.S. Treasury Secretary Janet Yellen said she’s encouraged by a strong labor market and progress on inflation over the past six months.

Improving prospects for demand in top consumer China also resulted in a weakening dollar and made bullion cheaper for many buyers.

In economic releases, the euro zone economy swung to expansion in January, a purchasing managers survey showed earlier today, adding to signs that the region could face a milder-than-expected downturn this winter.

Across the Atlantic, reports on durable goods orders, fourth quarter GDP, new home sales and personal income and spending due this week could shed further light on the health of the world’s largest economy.

Danaher Corp. Q4 Profit Increases, beats estimates

Danaher Corp. (DHR) reported a profit for its fourth quarter that increased from the same period last year and beat the Street estimates.

The company’s bottom line totaled $2.21 billion, or $2.99 per share. This compares with $1.75 billion, or $2.39 per share, in last year’s fourth quarter.

Excluding items, Danaher Corp. reported adjusted earnings of $2.87 per share for the period.

Analysts on average had expected the company to earn $2.51 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 2.7% to $8.37 billion from $8.15 billion last year.

Danaher Corp. earnings at a glance (GAAP) :

-Earnings (Q4): $2.21 Bln. vs. $1.75 Bln. last year.
-EPS (Q4): $2.99 vs. $2.39 last year.
-Analyst Estimate: $2.51
-Revenue (Q4): $8.37 Bln vs. $8.15 Bln last year.