Europe Earnings: De La Rue, SalMar, Telford Homes

Nigel Thomas
29 May, 2013
New York City

De La Rue revenue dropped 8% but pre-tax profit for the year jumped 57% to

[R]3:20 PM Frankfurt – De La Rue revenue dropped 8% but pre-tax profit for the year jumped 57% to £51.5 million. SalMar revenue climbed 58% and net soared nearly two-fold to 235.4 million kroner. Telford profit before tax for the year surged and gross profit for the year soared 66%.[/R]

In London trading, FTSE 100 index declined 1.7% or 112.25 to 6,650 and in Frankfurt the DAX index dropped 1.5% or 128.02 to 8,353.

In Paris, CAC 40 index climbed 1.4% or 55.40 to 4,050.

De La Rue Plc slipped 2.6% to 960.50 pence after the UK based national currencies printer reported revenue in the year ending in March dropped 8% to £483.7 million. Profit the year climbed 37% to £44.1 million compared to £32.2 million and diluted earnings per share jumped 35.9% to 42.8 pence from 31.5 pence.

For the year, pre-tax profit jumped 57% to £51.5 million from £32.9 million and underlying operating profits were up marginally from £63.1 million in the last year.

SalMar ASA slid 0.4% to 57.50 kroner after the Norway based salmon fish producer said revenue in the first quarter ending in March climbed 58.2% to 1.28 billion kroner. Net profit for the quarter soared nearly two-fold to 235.4 million kroner compared to 80.4 million kroner and diluted earnings per share climbed 2.04 kroner from 0.88 kroner.

Telford Homes Plc rose 0.2% to 269 pence after the UK based home builder said revenue in the year ending in March jumped 8% to £142.4 million. Profit-before-tax for the year surged tripled to £9 million compared to £3 million and basic earnings per share jumped 35.9% to 14.3 pence from 4.7 pence.

Gross profit for the year soared 66.1% £31.4 million.