Europe Earnings: DMGT, Mothercare, SABMiller, SBM Offshore

Nigel Thomas
23 May, 2013
New York City

DMGT said print revenues declined but profit soared 69%. Mothercare international sales surged 8% and loss for the year narrowed. SABMiller group revenue for the year climbed 10% and profit plunged 22% to $3.51 billion. SBM Offshore quarterly revenue surged 35%.

[R]3:20 PM Frankfurt – DMGT said print revenues declined but profit soared 69%. Mothercare international sales surged 8% and loss for the year narrowed. SABMiller group revenue for the year climbed 10% and profit plunged 22% to $3.51 billion. SBM Offshore quarterly revenue surged 35%.[/R]

In London trading, FTSE 100 index dropped 2.3% or 158.48 to 6,682 and in Frankfurt the DAX index declined 2.3% or 197.8 to 8,333.

In Paris, CAC 40 index plunged 2.2% or 89.33 to 3,962.

Daily Mail and General Trust Plc gained 2.1% to 770 pence after the publisher reported revenue for the first-half was flat at £866 million. Profit for the period soared 68.8% to £117.3 million compared to £69.5 million and diluted earnings per share 10.8 pence from 1.4 pence.

The multi-media company said there was good underlying growth in subscriptions and digital advertising grew 2% but revenues from print advertising and circulation declined 8% and circulation income dropped 6%. Overall Mail franchise''s revenues slipped 4% to £306 million.

Adjusted group operating profit climbed 10% to £146 million and adjusted pre-tax profits surged 30% to £137 million.

Mothercare Plc slumped 3.4% to 351.75 pence after the UK based maternity and children products retailer said revenue for the year ending in March dropped 7.8% to £749.4 million. Net Loss for the year narrowed to £22 million compared to £91.8 million and diluted loss per share was 6.2 pence from 1.8 pence.

Worldwide network sales slid 0.3% to £1.23 billion and total international sales surged 8.4% to £728.7 million.

The retailer added total UK sales declined 10.8% to £499.7 million and underlying international profit jumped 20.3% to £42 million.

SABMiller Plc slipped 1.9% to 3,469.50 pence after the UK based brewery and beverage maker reported group revenue for the year ending in March climbed 10% to $34.49 billion. Profit for the year plunged 22% to $3.51 billion compared to $4.48 billion and diluted earnings per share dropped $2.04 from $2.64.

Group revenue in the year from Latin America jumped 9% to $7.82 billion and revenue from Europe and Africa each rose 5% to $5.77 billion and $3.85 billion respectively. South Africa group revenue dropped 5% to $6 billion.

Revenue from beverages segment declined 5% to $5.54 billion and revenue from hotel and gaming segment slipped 4% to $466 million.

St. James’s Place plc plunged 11.2% to 568.50 pence after the Lloyds Banking Group sold 77 million shares at 580 pence per share for total proceeds of £450 million.

SBM Offshore NV climbed 2.4% to €14.05 after the Netherlands based offshore energy producer said consolidated revenue in the first quarter surged 35% to $1 billion.

The company agreed to decommission the Yme platform and terminate the contract at a cost of $470 million and order portfolio jumped 49% to record level of $21 billion. Order intake jumped 14% to $7.85 billion.

The company expects annual sales to increase nearly 8% to $4 billion.