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The luxury group said improved retail sales and "careful cost control" meant profit for the year to 31 March would be slightly ahead of market expectations.
Peter Wuffli, the chief executive, said today that careful cost control and vigilant management of its loan portfolio were the reasons UBS's earnings had held up while equity markets were slumping.
Middle-class housing, for example, is typically a slow, steady business in which profits come from careful cost control; luxury housing, by contrast, is riskier, with bigger and faster rewards but a higher chance of failure.
"The club's health and viability continues to be dependent on successful player identification, development and trading, careful cost control and building revenues.
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The remaining million dollars will go into what Smith calls "an existential anxiety fund," padding a cash reserve that, thanks to careful cost controls, savvy fundraising efforts and effective marketing of its paid products and sponsorship opportunities, has never been in danger of running dry.
The Walt Disney Co. rode World Cup soccer, "Toy Story 3" and careful cost controls to increased revenue and profitability in the third quarter of 2010, according to the latest earnings reports released Tuesday.
Within three weeks of RBS being bailed out, this was chief executive Lynne Peacock reporting the 2007-08 profits: "Differentiated in the UK by our adherence to the sound principle of a traditional business model, the prudent growth of our business has been supported by excellent cost control, a careful approach to funding as well as effective credit and risk management".
Innovation strategy expert Vijay Govindarajan thinks that businesses should be careful not to abandon innovation in their quest for efficiency and cost control during a recession — but they may need to reduce their focus on risky breakthrough innovation plans.
Independent of the choice of instrument type and technology differentiation mechanism, findings emphasise the importance of a careful policy design, which determines the exact balance between performance criteria such as cost control, incentive intensity, planning security and adaptive efficiency.
Where there is no existing dipping infrastructure, very careful cost considerations need to be made before especially constructing such a network for tsetse control purposes.
A careful cost analysis.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com