MAM
Nielsen Q2 net income jumps to $103 mn
MUMBAI: Global research company Nielsen‘s net income for the second quarter increased to $103 million compared to $69 million in the second quarter of 2011, driven by an overall reduction in costs.
Revenues for the second quarter decreased 1 per cent to $1.38 billion compared to the second quarter of 2011. Adjusted EBITDA for the second quarter increased 1 per cent to $389 million.
“Nielsen delivered solid second quarter results that reflect the reliable growth and stability of our businesses. We continue to benefit from the value we create for our clients and their confidence in our unique ability to serve the media and consumer goods industries across the globe,” said Nielsen CEO David Calhoun.
Revenues for the first half of 2012 increased 1 per cent to $2.72 billion compared to the first half of 2011 while adjusted EBITDA for the first half increased 2 per cent to $721 million.
Net income for the first half of 2012 was $128 million compared to a net loss of $112 million for the first half of 2011. The 2011 first half results included charges of $206 million, net of tax, associated with the IPO.
As of June 30, 2012, cash balances were $283 million and gross debt was $6.56 billion, excluding the $288 million mandatory convertible subordinated bonds due 2013.
Net debt (gross debt less cash and cash equivalents) at the end of the quarter was $6.27 billion. Capital expenditures were $152 million for the first half of 2012 as compared to $142 million for the first half of 2011.
Brands
Safex Group appoints Richa Malhotra as group chief financial officer
Former Standard Chartered executive to steer finance
NEW DELHI: Safex Chemicals has appointed Richa Malhotra as group chief financial officer, strengthening its leadership team as the company prepares for the next phase of expansion in specialty chemicals and global agrochemicals.
In her new role, Malhotra will lead the group’s financial strategy, capital architecture and governance framework as Safex scales operations across multiple verticals including branded formulations, specialty chemicals and contract manufacturing.
A chartered accountant and graduate of Shri Ram College of Commerce, University of Delhi, Malhotra brings more than two decades of experience in business finance, strategic planning, corporate banking and client management.
Before joining Safex, she served as executive director, financial markets at Standard Chartered, where she led teams across India and Sri Lanka and worked closely with large corporates, global subsidiaries and commercial banking clients. Her expertise includes capital structuring, treasury operations, risk management and financial markets led financing solutions.
Safex Group promoter director and joint managing director Piyush Jindal, said the appointment comes at a pivotal time for the company. “Safex stands at an inflection point as we build an integrated platform across branded formulations, specialty chemicals and contract manufacturing. Richa’s experience across global financial institutions will strengthen our financial discipline and help unlock value across the group,” he said.
Malhotra said she was looking forward to contributing to the company’s next chapter of growth. “Safex has built a strong reputation over 35 years with its focus on integrity, innovation and agricultural insight. I am excited to be part of the organisation as it expands its footprint in India and global markets,” she said.
The appointment comes as Safex continues to strengthen its financial foundations and scale operations internationally, positioning itself for future growth milestones.
