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Market Update

Aveva Beats Estimates after Schneider Merger, Bertrand Results Disappoint


Author: Sarla Buch
ticker.com
Last Update: 11:35 AM EDT June 14 2018

4:00 PM Frankfurt Aveva Group reported strong growth after reverse merger with Schneider Electric. Bertrandt reported disappointing first-half results. Gerry Weber lowered fiscal 2019 outlook. Soitec net surged on 23% jump in revenues.

In London trading the FTSE 100 index advanced 67.07 or 0.9% to 7,770.78 and in Frankfurt the DAX index soared 207.29 or 1.6% to 13,097.63.

In Paris the CAC 40 index jumped 76.37 or 1.4% to 5,527.03.

AVEVA Group Plc surged 11.4% to 2,820 pence after the U.K.-based information technology provider reported revenues in the year ending in March soared 15.3% from a year ago to 499.1 million.

Net income in the year jumped 24.2% to 47.7 million from 38.4 million in a year ago period and diluted earnings per share advanced to 46.73 pence from 39.82 pence.

Bertrandt AG dropped 2.3% to 94.90 after Germany-based international automotive and aviation solution provider said total revenues in the first-half ending in March increased 0.7% from a year ago to 501.1 million.

Net profit in the period slumped 3% to 24.2 million from 25 million from a year ago period and diluted earnings per share dropped to 2.40 from 2.48.

Gerry Weber International AG declined 5.8% to 6.54 after Germany-based fashion lifestyle manufacturer and retailer said revenues in the first-half ending in March plummeted 5.4% from a year ago to 404.7 million.

Net profit in the period tumbled 94.1% to 0.1 million from 1.7 million from a year ago period and diluted earnings per share slumped to break even Euro from 0.04.

The fashion lifestyle manufacturer tightened fiscal 2019 revenues forecast to between 830 million and 840 million from the earlier estimate of 700 million to 890 million and pretax loss of about 10 million.

Soitec SA declined 3.9% to 77.45 after France-based semiconductor materials maker reported sales in the year ending in March soared 23% from a year ago to 310.6 million.

Net profit in the year surged to 86.5 million from 8.4 million from a year ago period.

The wafers maker forecasted fiscal 2019 sales growth of about 35% and operating margin of about 27% and estimated capital expenditure of about 120 million.

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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc