Europe Earnings: Aggreko, Chemring, Co-op Bank, SDL, Whitbread

Nigel Thomas
18 Jun, 2013
New York City

Aggreko anticipates group revenues in the first half to climb 5%. Chemring Group secured order worth $25.2 million. Co-operative Bank plan to raise

[R]3:20 PM Frankfurt – Aggreko anticipates group revenues in the first half to climb 5%. Chemring Group secured order worth $25.2 million. Co-operative Bank plan to raise £1.5 billion to restructuring the debt. SDL lowered its full year outlook. Whitbread first quarter group sales jumped 13.8%.[/R]

In London trading, FTSE 100 index rose 0.8% or 53.38 to 6,384 and in Frankfurt the DAX index slid 0.01% or 0.60 to 8,215.

In Paris, CAC 40 index fell 0.3% or 12.47 to 3,851.

Aggreko Plc fell 1.3% to 1,767 pence after the UK based temperature control solution provider anticipated group revenues in the first half to climbed 5% and underlying basis revenues from American to increase 11% and Europe to rose 8%..

The local business revenue is expected to jump 8% and margins are expected to be a slightly higher than last year.

Chemring Group Plc slipped 1.1% to 262.70 after the UK based electronic warfare maker said it secured order from Aberdeen Contracting Command worth $25.2 million.

The Co-operative Bank Plc plunged 13.6% to 53.99 pence after the UK based financial service provider plans to raise £1.5 billion to restructuring the debt.

In March, the bank reported loss of £673.7 million for the year ending in December 2012 compared to profit of £54.2 million a year ago. Also, the Co-op Bank had cancelled the plan to buy 631 branches from Lloyds Banking Group in April.

Majestic Wine Plc dropped 0.9% to 457.50 pence after the UK based wine retailer total sales in the year ending on April 1 dropped 2.1% to £274.4 million from £280.3 million. Comparable sales in UK retail stores rose 1%.

SDL Plc tumbled 31% to 266.60 pence after the UK based lowered its outlook for the current financial year and reported for the first half performance below management expectations.

The company expects profit before tax for the year in the range of £15 million to £20 million.

Whitbread Plc climbed 3.7 to 3,032 pence after the UK based hotels and restaurants operator said first quarter group sales jumped 13.8% and comparable sales grew 3.1%.