financial accounting

The company said that this was achieved on a gross revenue of $17.4m, up 16% year-on-year, noting that its core card processing business also grew by 16% to $15.8m. AFS declared a dividend of US $0.47 per share for the year 2009. The net profit figures mark a substantial surge compared to 2008, however company officials reminded that 2008's annual net return of $1.1m was an all-time low and a direct result of the global downturn. The company's Chairman, Hassan Juma said that the excellent 2009 results  

Accounting practices similar to those used by Lehman Brothers to mask bad assets before its collapse are also being adopted by Gulf companies, auditors say. Now regional governments are being urged to clamp down on companies that are misleading investors by keeping assets that could be responsible for losses off their balance sheets. At the same time, local auditors are facing increased scrutiny after a series of corporate scandals that have hurt investor confidence from Damman to Dubai.  

In January of 2008, Michael Basch, a founding officer and former senior vice president at FedEx, touted a young Utah company of which he was CEO. "This is the single-greatest opportunity I've ever seen," Basch said of Ciralight Inc., adding that investors might see "20 to 80 times their investment coming back to them. Today I believe we can be a billion dollar company, and that's where we're headed." There was some basis for his optimism.  

Accounting practices similar to those used by Lehman Brothers to mask bad assets before its collapse are also being adopted by Gulf companies, auditors say. Now regional governments are being urged to clamp down on companies that are misleading investors by keeping assets that could be responsible for losses off their balance sheets. At the same time, local auditors are facing increased scrutiny after a series of corporate scandals that have hurt investor confidence from Damman to Dubai.  

Devonshire Industries Ltd. saw its profits drop almost five percent during the six months through September last year. The company, which owns Bermuda Paint, made $272,671 in net income during the period, compared to $286,326 during the same period in 2008. It also revealed that net sales were also down 8.8 percent to $1.8 million from $1.9 million over the same period.  

Reissuing release to correct ticker symbol for searching purposes. The corrected release reads: Notice is hereby given that Glancy Binkow & Goldberg LLP has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of a class consisting of all persons or entities who purchased the common stock of Fuqi International, Inc. ("Fuqi" or the "Company") FUQI between May 15, 2009 and March 16, 2010, inclusive (the "Class Period").  

 

 

SAO PAULO , March 19 /PRNewswire-FirstCall/ -- General Shopping Brasil S/A (BM&FBOVESPA: GSHP3), one of the largest shopping mall companies in Brazil , announces its fourth quarter and 2009 earnings. Operating and financial highlights General Shopping Brasil's gross revenue reached R$ 111.8 million in 2009, up 18.9% over that in 2008.