Salomon Expects a Profit: Salomon Inc. said...
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From Times Staff and Wire Service Reports
Salomon Expects a Profit: Salomon Inc. said Thursday it expects to post a first-quarter profit, in part because a strong performance by its securities unit offset a slump in oil trading. Salomon Chairman John H. Gutfreund said the company will show “good quarterly earnings” when results are announced April 24. In the first quarter of 1989, the company lost $28 million, or 35 cents a share. Gutfreund said profit by the brokerage arm, Salomon Bros., was broadly based in the latest quarter.
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