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Market Update

L'Oreal U.S. Sales Drop, Stora Jumps on Positive Quarterly Results

Author: Sarla Buch
Last Update: 12:40 PM EDT April 13 2018

4:00 PM Frankfurt Conzzeta soared after quarterly revenues surged. L''Oreal reported quarterly sales in North America declined. Stora Enso jumped after batter-than-expected results. Sage revenues dropped but cloud revenues surged.

In London trading, FTSE 100 index edged down 53 to 7,257.81 and in Frankfurt the DAX index edged up 4.80 to 12,420.56.

In Paris, CAC 40 index slid 2.46 to 5,306.66.

Conzzeta AG soared 6.2% to 1,202 Swiss francs after Switzerland-based diversified industrial and sports goods maker said net revenues in the first-quarter ending in March surged 43.5% from a year ago to 430.6 million francs and order intake jumped 18.6% to 276.1 million francs.

Revenues in the sheet metal processing business soared 41.2% to 224.4 million francs and revenues in the chemical specialties segment surged 77% to 102.3 million francs.

The diversified industrial and sports goods maker said revenues in the sporting goods segment jumped 18.4% to 70.6 million francs and revenues in the glass processing business surged 40.1% to 33.6 million francs.

L''Oreal SA rose 0.2% to 191.05 after France-based cosmetics, hair-care, perfume products maker reported sales in the first-quarter ending in March declined 1% from a year ago to 6.8 billion but comparable sales soared 6.8%.

The cosmetics and consumer products maker said sales in Luxe business jumped 4.4% to 2.25 billion and sales in the consumer products advanced 4.9% to 3.2 billion.

Sales in Western Europe slipped 0.6% to 2.1 billion, in North America plunged 9.5% to 1.7 billion but in the Asia Pacific jumped 10% to 1.8 billion.

Stora Enso Oyj jumped 2.6% to 15.78 after Finland-based pulp and paper maker said preliminary sales in the first-quarter ending in March were 2.6 billion and operating profit was about 369 million, higher than the earlier guidance.

The pulp and paper maker forecasted sales in the second-quarter slightly higher than in the first-quarter of 2.6 billion and operating profit may lower than the 369 million reported in the first-quarter of 2018.

Sage Group Plc plunged 8% to 618.20 pence after the U.K.-based enterprise software developer said group revenues in the first-half ending in March dropped 6.3% from 7.4% in the same period a year ago.

However, cloud revenue continued to grow strongly with cloud average revenue rate surged 57% to 335 million driven by acquired businesses in the international and other segments.

""Growth in the first-half was lower than our expectations as the pace of execution has been slower than we planned,"" said chief executive officer Stephen Kelly.

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