Europe Earnings: BP, Centrica, Delphi Automotive, Diageo, Invensys

Nigel Thomas
31 Jul, 2013
New York City

BP net swung to a

[R]3:20 PM Frankfurt – BP net swung to a £2.13 billion profit. Centrica profit soared 16% to £819 million. Diageo net surged 25% to £2.59 billion. Genel Energy profit soared. Invensys agreed to £3.4 billion takeover offer from Schneider Electric.[/R]

In London trading, FTSE 100 index jumped 1.2% or 78.67 to 6,650 and in Frankfurt the DAX index slid 0.2% or 12.08 to 8,259.

In Paris, CAC 40 index edged up 0.1% or 3.45 to 3,990s.

BP Plc increased 1.6% to 458.75 pence after the UK based oil and gas explorer reported revenue in the second quarter nearly flat at $94.71 billion from $94.98 billion. Net for the quarter swung to a profit $2.13 billion compared to loss of $1.47 billion and diluted earnings per share swung to $10.68 from a loss of $7.99.

Centrica Plc gained 1.2% to 390.30 pence after the UK based integrated energy company said group revenue in the first-half climbed 14% to £13.65 billion from £11.98 billion a year ago. Net profit in the first-half soared 16% to £819 million compared to £976 million and diluted earnings per share slipped 15.7 pence from 18.8 pence.

Delphi Automotive Plc, the UK based automotive components maker reported revenue in the second quarter ending in June rose 1% to $4.2 billion compared to last year. Net income in the quarter jumped 11.2% to $367 million compared to $330 million and diluted earnings per share soared $1.17 from $1.01 a year ago.

Diageo Plc jumped 2.7% to 2,042 after the UK based distillery company reported net sales in the year ending in June jumped 5% to £15.48 billion from £14.59 billion a year earlier. Net profit in the year surged 25.1% to £2.59 billion compared to £2.07 billion a year ago. Diluted earnings per share jumped to 98.7 pence from 77.4 pence.

Genel Energy Plc increased 2.5% to 962 pence after the UK based oil and gas explorer stated revenue in the first-half jumped 30.5% to $160.6 million from $123.1 million a year ago. Profit for the period soared four-fold to $109.1 million compared to $22.3 million and diluted earnings per share climbed 38.71 cents from 8.02 cents a year earlier.

Invensys Plc rose 1.5% to 498.10 pence after the UK based industrial software maker agreed for £3.4 billion takeover offer from France based Schneider Electric SA. Schneider offered 502 pence per share.

Invensys confirmed shareholders will receive 372 pence per share in cash and 0.025955 shares in the French electricity distribution company.

Invensys recorded in recent first-half result, revenue of £877 million and As on June, the Group had net cash of £581 million.

Moneysupermarket.com Group Plc plummeted 14.7 to 181.10 pence after the UK based price comparison site reported group revenue for the first half increased 10% to £112.3 million from £102.2 million a year ago. Profit after tax jumped to £15.1 million compared to £8.8 million and earnings grew to 2.8 pence from 1.7 pence.