Europe Movers: Admiral, Banco Santander, Taylor Wimpey, Unilever

Nigel Thomas
25 Apr, 2013
New York City

Admiral first quarter group turnover dropped 6% to

[R]3:00 PM Frankfurt – Admiral first quarter group turnover dropped 6% to £551 million. Banco Santander first quarter profit plunged 26% to €1.21 billion. Taylor Wimpey said order booked increased 27% to £1.2 billion. Unilever first quarter sales grew 0.2% to €12.2 billion.[/R]

In London trading, FTSE 100 index edged up 0.2% or 10.7 to 6,442 and in Frankfurt the DAX index gained 0.6% or 50.1 to 7,809.

In Paris, CAC 40 index slid 0.2% or 7.3 to 3,836.

Admiral Group Plc slipped 1.6% to 1,327 pence after the UK based motor insurance company group turnover in the first quarter dropped 6% to £551 million.

UK car insurance turnover declined 9% to £470 million but international car insurance turnover surged 20% to £48 million.

Group vehicle count increased 4% to 3.6 million and UK car insurance vehicle count was flat at 3 million and international car insurance vehicle count increased 30% to 458,000 from a year ago period.

“Our expectations for 2013 remain positive and unchanged.” said by Henry Engelhardt, chief executive officer.

Banco Santander SA, Spain based financial institution said first quarter net interest income declined 14.3% to €6.65 billion. Profit for the quarter plunged 25.9% to €1.21 billion compared to €1.63 billion. Earnings per share declined 33% to €0.12 from €0.17.

Gross income for the quarter dropped 8.8% to €10.3 billion.

British American Tobacco Plc increased 1.7% to 3,607 pence after the UK based cigarette maker reported revenue in the first quarter climbed 5% at constant rates of exchange and 1% at current rates of exchange.

Cigarette volumes from subsidiaries decreased by 3.7% to 160 billion and Global Drive Brand cigarette volumes grew by 1%.

Taylor Wimpey Plc gained 2.3% to 96.25 pence after the UK based homebuilder said value of total order booked at the end of March surged 27% to £1.2 billion, and order booked soared 23% to 7,355 homes and the cancellation rates remain low at 13.6% from 14.1% a year earlier.

Net debt remains lower than management’s expectations at £195 million as on March 31.

Unilever Plc dropped 2.9% to 2,761 pence after the UK based consumer goods maker turnover in the first quarter grew 0.2% to €12.2 billion.

The company said underlying sales growth was 4.9% and in emerging markets sales rose 10.4% and sales in Latin America climbed 12.3% to €2.03 billion and in North America were stable at 0.3% to €2 billion. Europe sales declined 3.1% to €3.1 billion.

The company increased quarterly dividend 10.7% to €0.2690.