Europe Earnings: Betfair, Carillion, Debenhams, DS Smith, Sevan Drilling

Nigel Thomas
27 Jun, 2013
New York City

Betfair said sales for the year were flat and net swung to

[R]3:20 PM Frankfurt – Betfair said sales for the year were flat and net swung to £49.4 million loss. Carillion secured £130 million hotel construction contract in Abu Dhabi. DS Smith sales climbed but profit for the year declined to £77.1 million. Seadrill increased its stake in Sevan Drilling.[/R]

In London trading, FTSE 100 index jumped 1.5% or 89.42 to 6,255 and in Frankfurt the DAX index increased 0.7% or 55.33 to 7,996.

In Paris, CAC 40 index advanced 1.1% or 41.91 to 3,768.

Betfair Group Plc gained 1.2% to 840 pence after the UK based betting and gaming operator reported total revenue in the year ending in April were flat at £387 million from £388.5 million.

Loss before tax for the year swung to £49.4 million compared to profit of £54.2 million and diluted loss per share swung to 65.1 pence from earnings of 33.1 pence a year earlier.

Gross profit for the year fell £337.2 million from £340.4 million and group operating loss swung to £69 million compared to profit of £46.3 million.

Carillion Plc climbed 4.4% to 273.50 pence after the UK based construction firm in a partnership with United Arab Emirates based Al Futtaim secured £130 million contract to build a five-star hotel in Abu Dhabi.

Debenhams Plc soared 4.4% to 94.80 pence after the UK based fashion retailer said revenue for the first 16 weeks in the second half rose 1% and like-for-like sales were flat. Online sales surged 40% which accounted 14% of the total sales.

Share of the online sale jumped 70 basis points to 3.7% and online market share in premium beauty climbed to 31.9%.

During the period, mobile visits through online channels soared 85% compared to last year.

DS Smith Plc surged 5.6% to 253 pence after the UK based packaging company reported revenue in the year ending in April climbed 86% to £3.67 billion from £1.97 billion. Profit for the year declined to £77.1 million compared to £75.3 million and diluted earnings per share dropped 8.3 pence from 10.9 pence a year earlier.

Profit before tax climbed 51% to £86.6 million and adjusted operating profit soared 77% to £250.9 million in the previous year.

Sevan Drilling AS climbed 16.7% to 3.98 kroner after the Norwegian ultra-deepwater driller Seadrill Ltd. successful in buy its stake to 50.1% of Sevan.

Seadrill has today purchased an additional 116.94 million shares in Sevan Drilling at a price of 3.95 kroner per share.