Europe Earnings: BHP, Lindt, Glencore, John Wood, Straumann, Vedanta

Nigel Thomas
20 Aug, 2013
New York City

BHP net declined 30% to $10.88 billion. Glencore reported loss of $8.92 billion and wrote down $7.66 billion assets linked to Xstrata takeover. John Wood net soared 32% and Lindt net soared 40% to 48.8 million francs. Straumann net jumped 21%.

[R]4:00 PM Frankfurt – BHP net declined 30% to $10.88 billion. Glencore reported loss of $8.92 billion and wrote down $7.66 billion assets linked to Xstrata takeover. John Wood net soared 32% and Straumann net jumped 21%. Lindt net soared 40% to 48.8 million francs.[/R]

In London trading, FTSE 100 index fell 0.5% or 36.69 to 6,429 and in Frankfurt the DAX index dropped 1% or 85.70 to 8,281.

In Paris, CAC 40 index declined 1.5% or 61.63 to 4,022.

BHP Billiton Plc slipped 1.5% to 1,927.50 pence after the UK based diversified mining company reported revenue in the year ending in June dropped 8.7% to $65.97 billion from $72.23 billion a year ago. Net profit declined 30% to $10.88 billion compared to $15.42 billion and diluted earnings per share fell to 203.7 cents from 288.4 cents a year earlier.

Profit from operation plunged 19% to $19.23 billion from $23.75 billion in last year.

The diversified natural resources company said weak commodity prices reduced EBIT to $8.9 billion from earnings

Chocoladefabriken Lindt & Spruengli AG jumped 2.2% to 43,170 francs after the Switzerland based chocolate maker said sales in the first-half ending in June climbed 9.6% to 1.132 billion francs. Net income for the period soared 40.2% to 48.8 million francs compared to 34.8 million francs.

As of June 30, EBIT surged 42.1% to 19.4 million francs compared to the same period in 2012.

Glencore Xstrata Plc dropped 2.1% to 295.54 pence after the UK based mining company reported revenue in the first-half ending in June jumped 4% to $112.5 billion from $108 billion a year ago. Net in the first-half swung to a loss $8.92 billion compared to $2.28 billion and diluted loss per share swung to 99 cents from earnings of 32 cents a year earlier.

Glencore wrote down the value of assets acquired in the Xstrata Plc takeover of $7.66 billion in May and also posted $1.2 billion of accounting loss.

John Wood Group Plc plunged 9.1% to 821 pence after the UK based energy service provider reported revenue in the first-half ending in June grew 3% to $3.45 billion from $3.35 billion a year earlier. Profit for the period soared 32% to $161.9 million compared to $122.7 million and diluted earnings per share jumped 42.2 cents from 32.7 cents a year ago.

Straumann Holding Ltd surged 6.4% to 162.80 francs after the Switzerland based dental implants maker said revenue in the first-half ending in June slid 1% to 354.8 million francs from 361.7 million francs a year ago. Net profit for the period jumped 21% to 53.7 million francs compared to 44.6 million francs.

Vedanta Resources Plc declined 3% to 1,164 pence after the UK based metals and mining company today said the merger of Sterlite Energy Limited and the spinoff of aluminum business Vedanta Aluminium Limited with its Indian subsidiary Sesa Goa have become effective.