Latest news with #CFO
Reuters
3 hours ago
- Business
- Reuters
Grab beats revenue estimates on strong consumer spending
July 30 (Reuters) - Grab Holdings (GRAB.O), opens new tab beat Wall Street expectations for second-quarter revenue on Wednesday, as consumers boosted spending on its ride-hailing and food delivery platform despite global economic uncertainty. Grab's push to turn its platform into a superapp, integrating ride-hailing, food and grocery delivery, and other digital services, has drawn a growing number of users willing to pay for its subscription plans. While ongoing U.S. trade negotiations have cast a cloud over global economic stability, leading to concerns about tariffs and elevated costs in Southeast Asia, the Singaporean economy has remained resilient. It grew 4.3% in the second quarter, avoiding a technical recession. "What we're seeing is that the more you make our products more affordable, it drives that growth, and it also shields us from some of the macro that you're seeing across the globe," Grab CFO Peter Oey told Reuters. The company has been attempting to lure price-sensitive consumers to its ride-hailing platform while increasing the number of drivers to keep pace with a growing userbase. Grab reported revenue of $819 million, above analysts' expectations of $811.3 million, according to LSEG data. The company noted its strong performance in Indonesia, a market it had previously described as underpenetrated, aiming to capitalize on the country's large population and grow market share. Oey said Indonesia is a profitable market for the company, which seeks to double down on investing in the country. The online service market in Southeast Asia has been consolidating, with large players acquiring smaller firms to grow their product portfolios. Reuters reported in May that Grab was exploring acquiring smaller Indonesian rival GoTo ( opens new tab, but Oey reiterated that the company is not in discussions with them. Grab posted a profit of $20 million for the quarter, compared to a $68 million loss in the same period a year earlier.
Associated Press
5 hours ago
- Business
- Associated Press
Gold Mountain Provides Update Respecting Late Filing of Annual Financial Statements
VANCOUVER, BC / ACCESS Newswire / July 30, 2025 / Gold Mountain Mining Corp. ('Gold Mountain' or the 'Company') (TSX:GMTN)(OTCQB:GMTNF)(FRA:5XFA) is pleased to provide an update with respect to the previously announced management cease trade order (the 'MCTO') issued by the British Columbia Securities Commission on July 2, 2025. The MCTO was issued in connection with the delay by the Company in filing its annual financial statements for the financial year ended March 31, 2025 (the 'Financial Statements') and its management's discussion and analysis, CEO and CFO filing certificates and annual information form relating to the Financial Statements (collectively, the 'Required Filings') before the prescribed filing deadline of June 30, 2025 (the 'Filing Deadline'). The Company previously announced that it expected to file the Required Filings by July 30, 2025. However, while the Company and the auditor continue to make progress, the Required Filings will not be filed by that date. The Company continues to work closely with its auditor and anticipates filing the Required Filings on or before August 13, 2025. The Company is providing this status update in accordance with National Policy 12-203 Management Cease Trade Orders ('NP 12-203"). The Company intends to follow the provisions of the Alternative Information Guidelines set out in NP 12-203, including the issuance of bi-weekly default status reports in the form of news releases, for as long as the Company remains in default. The Company confirms as of the date of this news release that there has been no material change in the information contained in the default announcement issued on July 2, 2025, and there is no other material information concerning the affairs of the Company that has not been generally disclosed. About Gold Mountain Gold Mountain is a British Columbia based gold and silver production, exploration and development company focused on the development of the Elk Gold Mine, a producing mine located 57 kilometers from Merritt in South Central British Columbia. Additional information is available at or on the Company's website at For more information, please contact: Gold Mountain Mining Corp. Email: [email protected] Website: The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release. Forward Looking Statements Forward-looking statements in this news release may include, but are not limited to, statements relating to those in respect of the Company's future financial reporting. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. The forward-looking statements contained in this news release are made as of the date hereof, and except as may be required by applicable securities laws, the Company assumes no obligation or intent to update publicly or revise any forward-looking statements made herein or otherwise, whether as a result of new information, future events or otherwise. SOURCE: Gold Mountain Mining Corp press release
Associated Press
6 hours ago
- Business
- Associated Press
Nepra Foods Announces Delay in Filing Annual Financial Statements
VANCOUVER, BC / ACCESS Newswire / July 30, 2025 / Nepra Foods Inc. (CSE:NPRA)(FSE:2P6)(OTCQB:NPRFF) ('Nepra Foods' or the 'Company'), wishes to announce that its annual financial statements for the year ended March 31, 2025, including the related management discussion and analysis, and CEO and CFO certifications (collectively, the 'Annual Filings'), has not been filed as required under Canadian securities legislation by the required filing deadline of July 29, 2025 (the 'Filing Deadline'). The Company's auditors require additional time to complete their audit and, as a result, the Annual Filings were not filed before the Filing Deadline. The Company is working diligently with its accounting staff and external auditors to file the Annual Filings as soon as practicable and currently expects to be able to file the Annual Filings on or before August 29, 2025. The Company has applied to the applicable Canadian securities regulatory authorities and received a management cease trade order related to the Company's securities to be imposed against the Chief Executive Officer and Chief Financial Officer of the Company to trade securities of the Company. The management cease trade order will be in effect until the Annual Filings are filed and requires that the Annual Financial Filings be filed on or before September 29, 2025. Until the Annual Filings are filed, the Company intends to provide information in accordance with National Policy 12-203 Management Cease Trade Orders for as long as the Annual Filings remain outstanding, including the issuance of bi-weekly default status reports in the form of a news release, if applicable. About Nepra Foods Inc. Nepra Foods is a specialty food company focused on innovative and proprietary allergen and gluten-free food ingredient technologies. The company supports food manufacturers globally with formulations, ingredients and technical support for the production of the next generation of healthy, nutritious foods. For more information on the company, visit ON BEHALF OF THE BOARD OF DIRECTORS William Hogan, CEO & Director [email protected] 844-566-1917 The CSE has neither approved nor disapproved the contents of this news release. The CSE does not accept responsibility for the adequacy or accuracy of this release. Forward-Looking Statements This news release contains statements and information that, to the extent that they are not historical fact, constitute 'forward-looking information' within the meaning of applicable securities legislation. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, but not limited to, statements relating to the Company's financial performance, business development, results of operations, and those listed in filings made by the Company with the Canadian securities regulatory authorities (which may be viewed at ). Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking statement speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company's management to predict all of such factors and to assess in advance the impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. The Company does not undertake any obligation to update any forward-looking information to reflect information, events, results, circumstances or otherwise after the date hereof or to reflect the occurrence of unanticipated events, except as required by law including securities laws. SOURCE: Nepra Foods press release
Yahoo
8 hours ago
- Automotive
- Yahoo
Ford reports Q2 earnings beat but takes $800M tariff hit
Ford (F) posted an earnings and revenue beat for the second quarter, reinstated full-year guidance, but upped its full-year tariff exposure after seeing $800 million in tariff costs in Q2 alone. For the year, Ford said it now expects a "net tariff-related headwind of about $2 billion," which reflects a $3 billion gross adverse adjusted EBIT (earnings before interest and taxes) impact, partially offset by $1 billion of mitigation efforts. Ford CFO Sherry House said on a call with reporters that mitigation efforts could include higher pricing for certain vehicles or using "bonded" rail carriers between Canada and Mexico. Ford also issued new guidance, with full-year adjusted EBIT seen at $6.5 billion to $7.5 billion, which the company says now takes into account the $2 billion tariff impact. Ford also said it sees full-year adjusted free cash flow in a range of $3.5 billion to $4.5 billion, with capital expenditures of about $9 billion. Ford shares were volatile in after-hours trading, down over 4% immediately following the news. Prior to withdrawing guidance in February, the company had seen full-year adjusted EBIT guidance $7.0 billion to $8.5 billion. For the quarter, Ford reported revenue of $50.2 billion vs $44.14 billion estimated per Bloomberg consensus, up 5% compared to a year ago. Ford posted adjusted earnings per share (EPS) of $0.37 vs. $0.33 expected, on adjusted EBIT (earnings before interest and taxes) of $2.1 billion vs $1.91 billion estimated. Ford said its adjusted EBIT was impacted by $800 million in net tariff exposure in Q2. Last week Big Three rival GM (GM) reported profit dipped in Q2 as tariffs added $1.1 billion to costs. And Dodge-parent Stellantis (STLA) said on Tuesday that tariffs ate away nearly $350 million in profit in Q2, with the full-year tally expected at $1.73 billion. The impact of tariffs, as well as rising warranty costs for recalls that have plagued Ford vehicles weighed on results. For example, Ford booked a $570 million charge in Q2 related to the recall of 700,000 SUVs due to fire risk. As part of its Ford+ plan, Ford divided its business into three units: Ford Blue for the traditional gas-powered business, Ford Model e for the electric vehicle division, and Ford Pro for its commercial and super duty truck business. Ford reported the following in Q2: Ford Blue: $25.8 billion in revenue, $661 million in EBIT Model e: $2.4 billion in revenue, -$1.329 billion in EBIT Ford Pro: $18.8 billion in revenue, $2.318 billion in EBIT Look for Farley to weigh in on trade deals the Trump team struck with the UK and EU on the earnings call; Farley has said deals like those are unfair given the fact vehicles imported from Canada and Mexico, which use a high-percentage of US-made parts, are tariffed at a much higher 25%. Despite tariffs, Ford saw sales gains in Q2 as the company's employee pricing for all strategy was a huge sales mover. Ford posted Q2 US sales of 612,095 units, a 14% jump compared to a year ago and well ahead of the 1.7% estimated industry sales growth rate. Hybrid (+23%) sales for vehicles like the Maverick, and gas-powered vehicle sales (+15%) like the Bronco SUV drove the sales gains, while EV sales lagged (-31%). Speaking of EVs, commentary from executives on the outlook for business given the loss of consumer EV tax credits will be another item on the agenda. Pras Subramanian is the lead auto reporter for Yahoo Finance. You can follow him on X and on Instagram. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
15 hours ago
- Business
- Yahoo
Former Diageo CFO Mahlan returns in interim role
Ex-Diageo CFO Deirdre Mahlan is to return to the position on an interim basis next month. The Casamigos Tequila owner today (30 July) named Mahlan interim CFO from 18 August. Mahlan, who spent five years as Diageo's CFO in the 2010s, is taking on the role in the wake of Nik Jhangiani becoming the group's interim CEO earlier this month. Jhangiani is at the helm after former Diageo chief executive Debra Crew left the business 'by mutual agreement' two weeks ago. 'Deirdre brings extensive spirits and functional expertise to the interim chief financial officer role, complemented with deep knowledge of Diageo and its operations,' Jhangiani said in a statement. Mahlan was Diageo's CFO from 2010 to 2015. She spent 27 years working at the Guinness brewer. Her most recent executive role was at US wine group The Duckhorn Portfolio. She was named the Decoy owner's interim president and CEO in 2023 before being hired on a permanent basis eight months later. In October last year, The Duckhorn Portfolio was sold to US private-equity firm Butterfly Equity, who named ex-Constellation Brands executive Robert Hanson its new asset's CEO in January. Crew was appointed Diageo chief executive in June 2023, moving up from the position of COO. In November that year, Diageo issued a profit warning amid pressure on its business in Latin America. In the 12 months to the end of June, Diageo saw its net sales fall 1.4% and dip 0.6% organically. Reported operating profit grew 8.2%, although the problems in Latin America meant organic operating profit declined. In February, Diageo, in a move similar to other major distillers, pulled its medium-term guidance, citing 'macroeconomic and geopolitical uncertainty'. The change came alongside a set of half-year numbers that included a 0.6% decrease in net sales, although they inched up 1% organically. Operating profit declined, however. May saw the Johnnie Walker maker announce it was looking to save around $500m in costs over the next three years as part of efforts to become more 'agile' and 'resilient'. Diageo said the move would help the company invest in 'future growth' and improve its 'operating leverage'. Jhangiani, who joined the company from Coca-Cola Europacific Partners in September, said at the time the group could make 'substantial changes' to its product portfolio in the form of asset disposals. During Crew's tenure, Diageo has offloaded assets including rum brands Cacique and Pampero and Safari liqueur. The group has also sold assets in Africa, although last October it reportedly called off the sale of its Pimm's gin-based liqueur after failing to secure an agreement with potential buyers. The business said the cuts were part of a broader initiative – dubbed 'Accelerate' – that will see 'a shift in how we do business', including developing a 'more agile global operating model'. Diageo is due to report its next set of annual financial results on 5 August. "Former Diageo CFO Mahlan returns in interim role" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
