Europe Movers: Admiral Group, Fugro, Lagardere, Serco

Nigel Thomas
08 Mar, 2013
New York City

Admiral Group profit for the year jumped 17% to

[R]2:00 PM Frankfurt – Admiral Group profit for the year jumped 17% to £258.4 million. Fugro net income rose 2% to €301.4 million. Lagardere net swung for the year to €89 million profit and Serco income for the year soared 40% to €245.3 million.[/R]

In London trading, FTSE 100 index rose 0.2% or 12.2 to 6,451 and in Frankfurt, the DAX index gained 0.6% or 45.8 to 7,986. In Paris, CAC 40 index increased 0.8% or 31.2 to 3,825.

Admiral Group plc slipped 1.2% to 1,340.32 pence after the UK based motor insurer said net revenue for the year ending in December soared 13% to £984.3 million from £870.3 million a year ago. Profit for the year jumped 17% £258.4 million compared to profit of £221.3 million from a year ago. Diluted earnings per share advanced 16% 94.9 pence from 81.7 pence a year ago.

The insurer said group turnover grew 1% to £2.22 billion and group profit before tax climbed 15% to £345 million. Group vehicle count increased 6% to 3.55 million and international car insurance turnover up 33% to £163 million with customers up 42% to 436,000.

Fugro NV surged 12% to €41.95 after the Netherlands based seismic data provider said revenue for the year ending December climbed 16.5% to €2.17 billion from €1.86 billion a year ago. Profit for the year rose 2% to €301.4 million compared to €295.3 million. Diluted earnings per share increased to €3.60 from €3.58 a year ago earlier.

Lagardere SCA climbed 3.8% to €41.95 after the France based media group reported net sales for the year ending December slid 3.8% to €7.37 billion from €7.66 billion a year ago. Profit for the year swung to €89 million compared to loss of €707 million. Earnings per share for the year swung to €0.70 from loss of €5.56 pence a year ago.

Serco Group plc slid 0.9% to 621 pence after the UK based holding company reported net sales for the fourth quarter ending December advanced 5.7% to €4.91 billion from €4.65 billion a year ago. Profit for the year soared 40% to €245.3 million compared to €175.1 million. Diluted earnings per share jumped 39% 48.78 pence from 35.08 pence a year ago period.