Europe Earnings: Ashtead, Carlyle, Dixons Retail, Ted Baker

Nigel Thomas
20 Jun, 2013
New York City

Ashtead revenue soared and profit for the year climbed 45% to

[R]3:20 PM Frankfurt – Ashtead revenue soared and profit for the year climbed 45% to £138.8 million. Carlyle agreed to acquire Italy based motor-maker Marelli Motori for €212 million. Dixons Retail group sales for the year rose 4% to £8.21 billion. Ted Baker sales in the first quarter climbed 32.7%.[/R]

In London trading, FTSE 100 index dropped 2.4% or 150.85 to 6,198 and in Frankfurt the DAX index declined 2.5% or 202.90 to 7,994.

In Paris, CAC 40 index plummeted 2.6% or 98.46 to 3,741.

Ashtead Group Plc climbed 5.3% to 660 pence after the UK based equipment rental reported revenue in the fourth quarter ending in April climbed 17% to £347.6 million from £287.8 million a year ago. Profit for the quarter surged 45.1% to £34.1 million compared to £23.5 million and diluted earnings per share jumped 6.7 pence from 4.6 pence a year ago period.

For the year, revenue soared 19% to £1.36 billion from £1.13 billion a year ago. Profit for the year climbed 45.1% to £138.8 million compared to £88.5 million and diluted earnings per share advanced 27.3 pence from 17.3 pence a year ago period.

Group pre-tax profit for the year surged 87% to £247 million.

Carlyle Group LP, the asset management agreed to acquire Italy based motor-maker Marelli Motori from UK based private-equity firm Melrose Industries Plc for €212 million or $279.71 million.

Dixons Retail Plc jumped 2.9% to 43.56 pence after the UK based consumer electronics retailer said total group sales in the year ending in April rose 4% to £8.21 billion from £7.91 billion and group underlying like for like sales up 4%.

Underlying pre-tax profit for the year jumped 15% to £94.5 million compared to £82.1 million and total loss before tax for the year narrowed to £115.3 million from £118.8 million. Underlying diluted earnings per share 1.5 pence compared to 1.4 pence.

Ted Baker Plc surged 14.1% to 1,677 pence after the UK based apparel retailer group sales in the first quarter climbed 32.7% and wholesale sales soared 41%.