Europe Earnings: Fresenius, Gerry Weber, J D Wetherspoon, TDC, Morrison

Nigel Thomas
13 Sep, 2013
New York City

Fresenius agreed to acquire 43 hospitals from Rhoen-Klinikum valued

[R]4:00 PM Frankfurt – Fresenius agreed to acquire 43 hospitals from Rhoen-Klinikum valued €3.07 billion. Gerry Weber profit dropped 10% and J D Wetherspoon net rose 4%. Societe Generale is likely to sell its Asian private banking unit. KKR NTC sold 11% stake of TDC for 4.17 billion krone.[/R]

In London trading, FTSE 100 index slid 0.2% or 12.28 to 6,577 and in Frankfurt the DAX index rose 0.1% or 9.76 to 8,504.

In Paris, CAC 40 index increased 0.03% or 1.07 to 4,108.

Fresenius SE & Co KGaA climbed 4.6% to €92.02 after the German-based health care company agreed to acquire 43 hospitals from Rhoen-Klinikum AG valued €3.07 billion or $4.07 billion.

From the acquisition, Fresenius expects to generate yearly revenue of €2 billion and EBITDA of nearly €250 million. The transaction is expected to close before the end of this year.

Gerry Weber International AG declined 6.9% to €29.80 after the German-based fashion and lifestyle apparel maker said revenue in the third-quarter jumped 5.9% to €189 million from €178.4 million a year ago. Net income in the quarter dropped 10.1% to €11.5 million compared to €12.8 million and earnings per share fell €0.25 from €0.25 a year earlier.

J D Wetherspoon Plc rose 0.5% to 738.50 pence after the UK based operator of pub houses reported revenue in the year slid to £1.3 billion from £1.2 billion a year ago. Profit for the year increased rose 3.6% to £46.19 million compared to £44.57 million and earnings grew 7.6% to 38.3 pence from 35.6 pence a year earlier.

Comparable sales in the year climbed 5.8% and comparable bar sales jumped 3.8%.

Operating profit for the year rose 3.7% to £111.3 million from £107.3 million pounds a year ago period.

Societe Generale SA slipped 1.5% to €36.20 and local media reports suggested the France-based bank is planning to sell its Asian private banking unit based in Singapore.

TDC A/S dropped 3.5% to 46.23 kroner after the Denmark-based communication company entertainment solution provider sold a 4.17 billion krone stake by private equity shareholder KKR NTC offered 90 million shares or stake of 11% at price of 46.20 kroner.

Wm Morrison Supermarkets Plc dropped 2.7% to 294.20 pence after the UK based food products retailer reported revenue in the first-half ending on August 4 was nearly flat at £8.9 billion from a year ago period.

Profit for the period dropped 18.8% to £267 million compared to £329 million and diluted earnings per share slipped 11.44 pence from 13.18 pence a year earlier.

Profit-before-tax slumped 21.8% to £344 million compared to £440 million a year ago.

Total store sales for the period rose 0.8% but like-for-like store sales slid 1.6% and underlying profit declined 10% to £401 million from £445 million.