Europe Earnings: Axel Springer, Capita, GKN, Howden Joinery, Unilever

Nigel Thomas
25 Jul, 2013
New York City

Axel Springer sold newspaper and magazine business for

[R]3:20 PM Frankfurt – Axel Springer sold newspaper and magazine business for €920 million. Capita profit for the quarter climbed 13% as revenue climbed. GKN plan to acquire U.S. based Spirit Aerosystems for $5 billion. Howden Joinery profit for the period surged 39%. Unilever profit for the quarter climbed 13%.[/R]

In London trading, FTSE 100 index slid 0.4% or 25 to 6,595 and in Frankfurt the DAX index dropped 0.9% or 76.58 to 8,303.

In Paris, CAC 40 index fell 0.2% or 8.99 to 3,954.

Axel Springer AG surged 15.7% to €39.96 after the German based newspaper publishing group sold its two regional newspapers and a two magazines to Funke Mediengruppe GmbH for €920 million.

Capita Plc dropped 3.8% to 998 pence after the UK based business service provider said revenue in the first-half soared 13% to £1.82 billion from £1.61 billion a year earlier. Net profit for the quarter climbed 13.4% to £128.4 million compared to £113.2 million and diluted earnings per share 19.85 pence from 18.08 pence a year ago.

The business service provider said underlying profit before tax for the period climbed 6% to £226.8 million and profit before tax advanced 10% to £205.2 million.

GKN Plc declined 4.2% to 326.70 pence after the engineering company plan to acquire U.S. based Spirit Aerosystems Holdings Inc for $5 billion.

Howden Joinery Group Plc climbed 4.7% to 288.50 pence after the UK based stated revenue in the first-half increased 7.2% to £390.8 million from £364.6 million a year earlier. Net profit for the period surged 38.8% to £27.9 million compared to £20.1 million and diluted earnings per share 4.4 pence from 3.2 pence a year ago.

Howden Joinery UK depot revenue increased 7.3% to £383.7 million and gross profit margin was 61.5%. Profit before tax and exceptional items increased to £43.2 million.

SABMiller Plc dropped 2.7% to 3,152.50 pence after the South Africa based beverage maker said sales in the first quarter unexpectedly slipped 1% due to cold and wet spring in Europe and North America and China. Group revenue rose by 2% and soft drinks volumes on an organic basis grew by 8%.

Unilever Plc slipped 1.5% or 2,677 pence after the UK based consumer goods maker reported revenue in the first-half rose 0.4% to €25.5 billion a year earlier. Net profit for the quarter climbed 13% to €2.68 billion compared to €2.38 billion and diluted earnings per share €0.83 from €0.83 a year ago.

The company added underlying sales for the quarter jumped 5% and emerging markets climbed 10.3%.Underlying volume rose 2.6%.

Gross margin soared 120 basis points to 41.0% and core operating margin increased 40 basis points to 14%.