Europe Earnings: Akzo Nobel, Balfour Beatty, G4S, Philips, Sap, Tesco

Nigel Thomas
21 Oct, 2013
New York City

Akzo Nobel profit soared 41% but sales dropped 5%. Balfour Beatty won contract of

[R]4:25 PM Frankfurt – Akzo Nobel profit soared 41% but sales dropped 5%. Balfour Beatty won contract of £64 million for Crossrail project. Private equity group Charterhouse may offer £1 billion for G4S cash unit. Philips net surged. SAP profit jumped 23%.[/R]

In London trading, FTSE 100 index rose 0.3% or 18.82 to 6,641 and in Frankfurt the DAX index slid or 0.32 to 8,865.

In Paris, CAC 40 index fell 0.2% or 9.76 to 4,276.

Akzo Nobel N.V. surged 8.1% to €52.36 after the Netherlands-based paints maker reported revenue in the third-quarter ending in September dropped 5% to €3.78 billion from €3.97 billion a year ago.

Net income in the quarter soared 41% to €155 million compared to €110 million a year earlier.

Balfour Beatty Plc gained 0.9% to 283.50 pence after the U.K.-based infrastructure developer secured new contract of £64 million from Network Rail to provide electrification of the Great Western main line of the Crossrail project.

G4S Plc jumped 3.7% to 251 pence after the U.K.-based private equity group Charterhouse Capital Partners is considering to offer $1.6 billion offer for the cash-solutions ATM business to security services provider.

Koninklijke Philips NV jumped 6.4% to €25.98 after the Netherlands-based healthcare, consumer lifestyle and lighting manufacturer said revenue in the third-quarter ending in September slumped 3.4% to €5.62 billion from €5.82 billion a year ago period.

Net income in the quarter surged 168% to €281 million compared to €105 million and diluted earnings per share climbed €0.31 from €0.11 a year ago.

The company added healthcare currency-comparable equipment order intake declined by 2% and consumer lifestyle comparable sales increased by 9%.

Lighting comparable sales increased by 3% and LED-based sales climbed 33% and which is represent 30% of total lighting sales.

The company said new €1.5 billion share buy-back program starts from today.

Sap AG climbed 6.2% to €56.79 Germany-based software developer reported revenue in the third-quarter ending in September rose 2% to €4.05 billion from €3.95 billion a year ago.

Net income in the quarter jumped 23% to €762 million compared to €618 million and diluted earnings per share €0.64 from €0.52 a year ago period.

The web-based software developer said revenue from of software licenses declined 5% to €975 million.

The company lifted operating profit for the year between 12% to 14 to in the range of €5.85 billion to €5.95 billion.

Tesco Plc rose 0.4% to 370.70 pence after the food retailer will increase the price it pays to dairy farmers for their milk of 33.79 pence per liter for their milk from November 1.