Krones FY19 Profit Drops

41-Year-Old Is First Coronavirus Death in Mexico, Ministry Says

Mexico’s Health Ministry confirmed that a 41-year-old man is the first patient to have died with coronavirus in Mexico.

The man had registered symptoms since March 9 and also had diabetes, the ministry said on its Twitter account. Health authorities have reported 118 cases of Covid-19 as of Wednesday evening, up from 93 one day prior.

President Andres Manuel Lopez Obrador ruled out closing airports and other tough measures to curb the pandemic earlier Wednesday, saying he’s trying to prevent a complete shutdown of the economy that would hurt the poor.

Read More:Goldman, Credit Suisse Forecast 2020 Recession for Latin America

Nevertheless, economists say the virus and an oil rout will plunge Mexico into recession this year, with Credit Suisse predicting a deep contraction of 4% of gross domestic product.

Raw Seafoods Recalls Wegmans Salmon Products For Undeclared Wheat

Raw Seafoods, Inc. is recalling two Wegmans branded salmon products for the presence of undeclared wheat allergen, the U.S. Food and Drug Administration said in a statement.

The recall involves Wegmans Brand Ginger Salmon Oven Safe Meal and Salmon Teriyaki Oven Safe Meal. Wegmans Ginger Salmon holds packaging code of 7608 with best by date of 01/23/2021, and packaging code of 7659 with best by date of 02/13/2021.

Wegmans Salmon Teriyaki holds packaging code of 7688 with best by date of 02/24/2021, and packaging code of 7692 with best by date of 02/25/2021. No other Raw Seafoods or Wegmans Brand items are involved in the recall.

The affected products were manufactured by Raw Seafoods for Wegmans. They were distributed to Wegmans stores in New York, Massachusetts, New Jersey, Pennsylvania, Maryland, Virginia, and North Carolina.

According to the agency, the consumption of these products by people who are allergic to wheat can cause a serious allergic reaction.

However, the company has not received reports of illness so far.

Consumers are urged to return the products to their place of purchase.

In similar incidents, Meijer in early March had recalled about 13,284 packages of mixed nuts due to the potential risk of undeclared Brazil nuts.

Dole Fresh Vegetables, Inc. also called back H-E-B-branded Tuscan Herb salad kit for the presence of undeclared allergens such as peanut, wheat, soy and tree nuts.

Vossloh FY19 Adj. EBIT Slightly Rises; Sales Revenues Up 5.9% – Quick Facts

The Vossloh Group (VOSSF.PK) reported a net loss of 136.8 million euros in fiscal 2019 compared to profit of 22.7 million euros, previous year. Loss per share was 8.32 euros compared to profit of 1.14 euros. Adjusted EBIT was 55.7 million euros compared to 54.2 million euros, last year. Adjusted EBIT margin was 6.1 percent compared to 6.3 percent.

Fiscal 2019 sales revenues rose by 5.9 percent to 916.4 million euros. The company said the background to this positive development is the growth in the Core Components division.

In fiscal 2020, Vossloh expects sales of between 900 million euros and 1 billion euros. Profitability is expected to increase noticeably in fiscal year 2020 compared to the adjusted EBIT margin in 2019. The company said the development of sales and earnings has hardly been affected by the COVID-19 pandemic so far in the year.

The company noted that its dividend proposal is subject to current developments related to COVID-19 pandemic. The Executive Board and Supervisory Board had previously planned to propose to the shareholders a dividend of 1.00 euros per share.

Halma Plc Issues Trading Update – Quick Facts

Halma Plc (HLMA.L) issued a trading update for the period from 1 October 2019 to date. The Group said it has made good progress during the period. To date, the Group has delivered revenue growth in all four major regions and all sectors, Halma Plc stated.

The Group now expects adjusted profit before tax for the year ending 31 March 2020 to be in a range of approximately 265 million pounds to 270 million pounds. This is compared to an average of current market forecasts of 275.5 million pounds.

London Tube begins mass closures as coronavirus lockdown looms

Up to 40 London tube stations are set to close today ahead of an expected ‘lockdown’ in the capital.

Two underground lines are expected to shut completely tomorrow and some night services stopped as the coronavirus crisis hits services in the city.

In an overnight announcement , Transport for London urged all commuters to avoid the transport system for all but essential travel, with buses also expected to be severely disrupted.

This is a breaking story – more to follow.

Krones FY19 Profit Drops

Beverage filling and packaging company Krones AG (KRNTY.PK,KRNNF.PK) reported that its net income for fiscal year 2019 dropped to 9.2 million euros or 0.30 euros per share, from 150.6 million euros or 4.78 euros per share in the prior year.

Consolidated earnings before taxes or EBT decreased to 41.7 million euros from 204.3 million euros in the previous year.

Annual revenue increased 2.7 percent to 3.96 billion euros from 3.85 billion euros in the previous year.

The company will propose a dividend of 0.75 euros per share for the 2019 financial year, compared to 1.70 euros per share paid last year.

Based on the general economic outlook and the effects of the coronavirus with information as of early March, Krones expects stable consolidated revenue in 2020 with an EBITDA margin of around 6.7% to 7.2%.

But, the company said it is unable to provide reliable predictions for revenue and earnings in 2020, due to global developments surrounding the coronavirus in recent days.

The Executive Board is confident that structural measures will continue to have a positive impact on earnings in 2020.

The company noted that the medium and long-term outlooks remain positive. This is because consumer demand for packaged beverages and liquid foods will continue to grow worldwide.