Europe Earnings: Colruyt, H & M Hennes, Ladbrokes, Mapfre, Vestas Wind

Nigel Thomas
26 Sep, 2013
New York City

Colruyt lowered full-year outlook. H & M Hennes said profit for the quarter soared 22%. Ladbrokes cuts its operating profit outlook in digital division. Bankia sold 12% stakes in Mapfre for a gain of

[R]4:00 PM Frankfurt – Colruyt lowered full-year outlook. H & M Hennes said profit for the quarter soared 22%. Ladbrokes cuts its operating profit outlook in digital division. Bankia sold 12% stakes in Mapfre for a gain of €165 million. Thomas Cook plunged after winter bookings are below a year ago period.[/R]

In London trading, FTSE 100 index rose 0.2% or 16.05 to 6,568 and in Frankfurt the DAX index increased 0.1% or 10.31 to 8,676.

In Paris, CAC 40 index inched up 0.04% or 1.59 to 4,197.

Etablissementen Fr Colruyt NV dropped 4.55% to €42.08 after the Belgium-based food retailer expects net income for the year to decline to €369 million.

H & M Hennes & Mauritz AB climbed 6.8% to 281.90 kronor after the Sweden-based clothing retailer reported sales in the third quarter jumped 8% to 32.04 billion kronor from 28.81 kronor a year ago.

Profit for the quarter soared 22.4% to 4.43 billion kronor compared to 3.62 billion kronor and earnings per share increased 2.68 kronor from 2.19 kronor a year earlier.

The retailer added gross profit for the quarter climbed 11.9% to 18.8 billion kronor and operating profit surged 20% to 5.76 billion kronor a year ago.

Ladbrokes Plc declined 6.6% to 175.70 pence after the UK based casino operator expects operating profit in the first-half ending in June in digital division lower-than-expected and in the range of £10 million to £14 million.

Mapfre SA, the Spain-based insurer confirmed that Bankia SA sold 12% stake or 369.6 million shares in the company and generates net capital gain of €165 million.

Thomas Cook Group Plc plunged 5.8% to 146.63 pence after the UK based tour operator anticipated that winter bookings slowed compared to last year.

In Northern Europe bookings are 1% below than the last year and bookings in continental Europe were flat.

Vestas Wind Systems A/S surged 8.9% to 134.40 kronor after the Denmark-based wind power maker secured order of 200 wind turbines from Duke Energy Renewables for two wind-energy projects in Texas.