Europe Movers: Deutsche Post, Glencore, Serco, Xstrata

Nigel Thomas
05 Mar, 2013
New York City

Deutsche Post fiscal net surged 43% to

[R]2:00 PM Frankfurt – Deutsche Post fiscal net surged 43% to €1.66 billion. Glencore profit for the year plunged 75% and extended the merger date with Xstrata. Serco Group fiscal profit surged 40% to £245.9 million. Xstrata profit for the year tumbled 77% to $1.37 billion.[/R]

In London trading, FTSE 100 index rose 0.9% or 56.9 to 6,403 and in Frankfurt, the DAX index climbed 1.8% or 135.5 to 7,827. In Paris, CAC 40 index jumped 1.5% or 53.9 to 3,764.

Deutsche Post AG soared 5.4% to €17.92 after the Germany based logistics services provider reported group revenue for the year ending December grew 5.1% to €55.5 billion from €52.83 billion a year ago. Net profit for the year surged 42.7% to €1.66 billion compared to €1.16 billion from a year ago. Diluted earnings per share jumped 37.5% €1.32 from €0.96 a year earlier.

For the fourth quarter, the company said group revenue rose 3.2% to €14.58 billion from €14.13 billion a year ago. Net profit for the year climbed nearly three-fold to €542 million compared to €175 million from a year ago. Diluted earnings per share jumped to €0.40 from €0.14 a year earlier.

The company expects for fiscal 2013, EBIT to increase in the range of €2.7 billion to €2.95 billion and mail division to contribute between €1.1 billion and €1.2 billion. DHL generated operating earnings in the range of €2 billion to €2.15 billion.

Glencore International plc jumped 3.5% to 382.80 pence after the Switzerland based metals and mining company said revenue for the fiscal year ending in December climbed 15% to $214.4 billion compared to $186.1 billion in the same period of last year.

Profit for the year plunged 75% to $1 billion compared to $4.05 billion from a year ago and diluted earnings per share dropped 80% to 14 cents compared to 69 cents from a year ago.

The company added Kazzinc gold production jumped 22% and Mutanda copper production climbed 37% and South African coal production advanced 104%.

The board of directors said merger date with Xstrata was extended to April 16.

Serco Group plc surged 7.3% to 621.15 after the UK based holding company reported revenue for the fiscal year ending in December jumped 5.7% to £4.91 billion compared to £4.65 billion in the same period of last year.

Profit for the year surged 40.4% to £245.9 million compared to £175.2 million from a year ago and diluted earnings per share climbed 40% to 49.94 pence compared to 35.70 pence from a year ago.

The defense company said operating profit for the year jumped 8% to £287.6 million and order book increased to £19.1 billion compared to £17.9 billion from a year ago.

The company proposed 20% increase in total dividend for the year 2012.

Xstrata plc climbed 4.4% to 1,148 pence after the Switzerland based diversified mining company said revenue for the fiscal year ending in December dropped 7% to $31.62 billion compared to $33.88 billion in the same period of last year.

Profit for the year tumbled 77% to $1.37 billion compared to $5.93 billion from a year ago and diluted earnings per share declined 79% to 40 cents compared to $1.93 from a year ago.