Europe Earnings: Accor, Bouygues, Dixons, G4S, Polymetal, Ryanair

Nigel Thomas
28 Aug, 2013
New York City

Accor first-half net swung to profit. Bouygues net declined 32% to

[R]4:00 PM Frankfurt – Accor first-half net swung to profit. Bouygues net declined 32% to €188 million. G4S plans to raise £600 million to cut the debt. Polymetal Intl net swing to a loss of $255 million. Ryanair appealed UKCC to sell stake of 29.8% in Aer Lingus Group Plc.[/R]

In London trading, FTSE 100 index fell 0.4% or 27.01 to 6,414 and in Frankfurt the DAX index dropped 1.4% or 111.70 to 8,131.

In Paris, CAC 40 index slid 0.5% or 19 to 3,950.

Accor SA declined 4.2% to €27.59 after the France based hotelier reported revenue in the first-half ending in June slid 0.9% to €2.69 billion from €2.72 billion a year earlier. Net for the period swung to a profit of €34 million compared to a loss of €599 million and diluted earnings per share to a €0.15 from a loss of €2.34 a year ago.

Comparable revenue for the period increased 1.8%. For the period, the hotelier added net new 9,940 rooms in 77 hotels.

Operating profit before tax dropped to €148 million from €190 million in first-half of 2012, and like-for-like decrease of 14.7%.

Bouygues SA surged 8.5% to €24.89 after the France based telecom, media, and construction company reported sales in the first-half ending in June fell 2% to €15.21 billion from a year ago. Net for the period declined 32% to €188 million compared to €278 million a year earlier.

Operating profit for the period dropped 25% to €356 million compared to €476 million.

Dixons Retail Plc slipped 2.5% to 40.86 pence after the UK based consumer electronics retailer signed a deal with Sony Pictures Home Entertainment to sell latest film the same day released on DVD and Blu-ray.

G4S Plc climbed 3.3% to 253.30 pence after the UK based security service provider plans to raise approx £600 million or $932 million through selling of shares and assets to cut the debt.

As of June 30, company’s net debt rose to £1.95 billion.

Legal & General Group Plc declined 4% to 186.30 pence after the UK based investment company today launches the Legal & General Global Inflation Linked Bond Index Fund.

The fund accepts a minimum investment of £1 million.

Polymetal International Plc plunged 7.3% to 686.50 pence after the UK based gold, silver and copper miner reported revenue in the first-half ending in June dropped 6% to $721.3 million from $767.5 a year ago.

Net for the period swing to a loss $255 million compared to a profit of $157 million and diluted loss of a 66 cents from earnings of 37 cents a year earlier.

The company added average earnings in gold and silver prices declined 13% and 18% respectively from a year ago but were partially offset by 8% growth in the sales volume of gold.

Adjusted EBITDA for the period dropped 38% to $239 million as decline of commodity prices.

Ryanair Holdings Plc dropped 1.6% to 6.42 pence after the UK based low-cost airliner appealed the UK Competition Commission to sell its stake of 29.8% in Aer Lingus Group Plc.