Europe Earnings: Bwin.party, Hermes, Royal KPN, L'Oreal

Nigel Thomas
30 Aug, 2013
New York City

Bwin.party plunged 13% after first-half net loss narrowed and company guided weak revenues outlook. Hermes Intl net surged 14% to

[R]4:00 PM Frankfurt – Bwin.party plunged 13% after first-half net loss narrowed and company guided weak revenues outlook. Hermes Intl net surged 14% to €382 million and sales climbed 11%. America Movil terminated €7.2 billion bid after Royal KPN set up a poison pill. L''Oreal profit climbed 5%.[/R]

In London trading, FTSE 100 index slid 0.8% or 48.99 to 6,434 and in Frankfurt the DAX index dropped 1.1% or 86.88 to 8,108.

In Paris, CAC 40 index declined 1% or 40.46 to 3,946.

Bwin.party Digital Entertainment Plc tumbled 13.4% to 110.30 after the UK based online gaming company reported total revenue in the first-half ending in June declined 16.5% to €342.5 million from €410 million a year ago.

Net loss for the period narrowed to €11.6 million from €21.3 million a year earlier.

The company added EBITDA from continuing operations for the period plunged 34% to €60.7 million. Gross profit dropped €298.4 million from €341.5 million a year ago period.

The online gambling company warned revenue for the year could fall as much as 17%.

Hermes International SCA jumped 2.7% to €255.10 after the France based luxury goods maker said revenue in the first-half ending in June climbed 11% to €1.77 billion.

Net profit for the period surged 13.9% to €381.7 billion.

Operating profit soared 14.3% to €584.1 million compared to €510.9 million a year earlier.

Koninklijke KPN NV declined 6.4% to €2.14 after the America Movil SAB prepared to terminate €7.2 billion bid after the KPN foundation set up to interests option to buy nearly 50% of its voting rights.

L''Oreal SA climbed 4.8% to €128.30 after the France based cosmetic group reported sales for the first-half ending in June jumped 4.7% to €11.74 billion from €11.21 billion a year ago period.

Net profit for the year climbed 5.2% to €1.71 billion compared to €1.63 billion and diluted earnings per share increased €2.81 from €2.69 a year earlier.

Gross profit for the period climbed 5.7% to €8.42 billion and operating profit soared 7.7% to €2.04 billion.