Europe Earnings: Carlsberg, Glanbia, Heineken, Hikma, Lloyds

Nigel Thomas
21 Aug, 2013
New York City

Carlsberg net plunged 35%. Glanbia profit slipped 5% but revenue climbed 12%. Heineken revenue grew 3% and net tumbled 17% to

[R]4:00 PM Frankfurt – Carlsberg net plunged 35%. Glanbia profit slipped 5% but revenue climbed 12%. Heineken revenue grew 3% and net tumbled 17% to €639 million. Hikma profit surged 82%. Lloyds sell its German insurance business to Cinven Partners and Hannover Ruck for £255.1 million in cash.[/R]

In London trading, FTSE 100 index slid 0.4% or 29.32 to 6,424 and in Frankfurt the DAX index inched up 0.03% or 2.89 to 8,303.

In Paris, CAC 40 index rose 0.1% or 6.20 to 4,035.

Carlsberg A/S gained 1.4% to 596 kroner after the Denmark based soft drinks maker net revenue in the first-half ending in June grew 2% to 32.9 billion kroner from 32.1 billion kroner a year earlier. Net profit for the period plunged 34.8% to 2.14 billion kroner from 3.28 billion kroner and diluted earnings per share declined 14 kroner from 21.5 kroner a year ago.

Carlsberg said revenue in the second-quarter rose to 19.6 billion kroner from 19.3 billion kroner and EBIT slid to 3.44 billion kroner from 3.47 billion kroner a year earlier.

Glanbia Plc dropped 3.2% to €10.06 after the Ireland based dairy products maker reported total group revenue in the first-half ending in June climbed 12% to €1.66 billion from a year ago. Profit for the period slipped 5.4% to €80.7 million compared to €85.3 million and diluted earnings per share fell to 27.22 cents from 28.75 a year earlier.

Glanbia said pretax-profit in the first-half to €95.04 million from €88.06 million last year.

The dairy reaffirms about earnings per share guidance for the year in the range of 8% to 10%.

Heineken NV declined 3.7% to €53.44 after the Netherland based beer maker reported group revenue in the first-half ending in June jumped 3% to €10.37 billion from €10.07 billion a year ago. Net profit for the period tumbled 17% to €639 million compared to €766 million and diluted earnings per share slid 1% to €1.18 from 1.19 a year earlier.

Hikma Pharmaceuticals Plc increased 0.5% to 1,095 pence after the UK based drug-maker said group revenue in the first-half ending in June climbed 20% to $638.3 million from $532.3 million a year earlier. Profit for the period surged 82.1% to $73.6 million compared to $40.4 million a year earlier.

Generics revenue soared to $132 million from $55.8 million and revenues from injectable business climbed 9.5% and revenue from branded division grew 3.2% in the same period of 2012.

The company added group adjusted operating margin jumped 29.6% compared to 15.7% a year ago period.

The drug-maker lifted its revenue outlook for the year to jumped 20% on strong demand of generic medicines.

Lloyds Banking Group Plc rose 0.3% to 74.02 pence after the UK based financial service provider to sell its German life insurance business Heidelberger Lebensversicherung AG to a joint venture owned by Cinven Partners LLP and Hannover Ruck SE for €300 million or £255.1 million in cash.

Sale is expected to complete in first quarter 2014.