GenCorp reports 28% sales growth in Q2
In its Q2 results statement, GenCorp Inc (NYSE:GY) reported a 28% rise in sales to US$234.1m from US$183 a year earlier, adjusted earnings rose to US$30.8m from US$24.3m while net income was US$4.3m higher at US$13.5m (Q209: US$9.2m).
Po Valley appoints ex-Mediterranean Oil & Gas executive as Deputy CEO
Po Valley Energy (ASX: PVE) has announced the appointment of Giovanni Catalano as Deputy Chief Executive Officer and Chief Operating Officer along with other key appointments to its executive and technical teams. Based in Rome, Catalano succeeds Doug Colkin whose contract as Chief Operating Officer was completed in June.
Nokia to Exit Wireless Modem Business
Nokia is selling the business to Renesas Electronics of Japan for $200 million, as stiff competition from Chinese companies has driven down prices for the products.
Prosperity Minerals revenues hit US$849m in FY09, up 30% year-on-year
In its financial results, Prosperity Minerals (LON:PMHL) reported a 31% increase in revenue to US$849m (FY09: $647.7m) and a 140% rise in pre-tax profit to US$18.5m (FY09: US$7.7m). The newly re-focused iron-ore trading business had a particularly significant year, in which it re-positioned itself following the disposal of the majority of its Chinese cement business.