Europe Earnings: Carillion, IMI, Premier Oil, Rockhopper

Nigel Thomas
22 Aug, 2013
New York City

Carillion profit soared 9% and agreed to acquire Analytical Flow Products for

[R]4:00 PM Frankfurt – Carillion profit soared 9% and agreed to acquire Analytical Flow Products for £36 million. IMI, engineering contractor said first-half revenues were flat and profit climbed 8% to £113 million. Premier Oil net jumped 11%. Rockhopper said loss in the year widened.[/R]

In London trading, FTSE 100 index jumped 1% or 66.86 to 6,458 and in Frankfurt the DAX index climbed 1.5% or 127.73 to 8,413.

In Paris, CAC 40 index increased 1.3% or 51.99 to 4,068.

Carillion Plc declined 3.7% to 286.40 pence after the UK based construction company reported total revenue in the first-half ending in June dropped 9.3% to £1.96 billion from £2.16 billion a year earlier. Profit for the period soared 9.2% to £59.2 million compared to £54.2 million and diluted earnings rose to 13 pence from 12 pence a year ago.

Underlying pretax-profit for the first-half grew to £73.5 million from £72.4 million and order book had increased to £18.4 billion from £18.1 billion a year ago period.

IMI Plc surged 6.6% to 1,494 pence after the UK based engineering company said revenue in the first-half ending in June were nearly flat at £1.09 billion from a year ago. Profit for the period climbed 8.4% to £112.8 million compared to £104.1 million and diluted earnings increased to 34.5 pence from 31.8 pence a year earlier.

Separately, the engineering company today said it agreed to acquire Analytical Flow Products for consideration of up to £36 million.

Premier Oil Plc slipped 1.8% to 350.70 pence after the UK based oil and gas explorer reported revenue in the first-half ending in June rose 1.8% to $757.8 million from $744.3 million a year ago period. Profit for the period jumped 10.5% to $161.1 million compared to $145.8 million and diluted earnings per share climbed 29.1 cents from 26.9 cents a year ago.

Rockhopper Exploration Plc plunged 13.7% to 118.50 pence after the UK based oil and gas explorer reported loss for the year widened to $75.2 million compared to $53.7 million and diluted earnings per share $26.47 $19.92 a year ago.