Europe Earnings: Aryzta, Genel Energy, Essar, Orange, Rolls-Royce

Nigel Thomas
25 Nov, 2013
New York City

Aryzta said revenue rose 0.4% to

[R]3:40 PM Frankfurt – Aryzta said revenue rose 0.4% to €1.1 billion. Cranswick profit surged 23%. Chemring Group revenue dropped 24%. Essar Energy reported wider net loss. Orange plans to sale its Dominican Republic telecom business for €1 billion.[/R]

In London trading, FTSE 100 index gained 0.3% or 21.73 to 6,696 and in Frankfurt the DAX index jumped 0.9% or 87.96 to 9,307.

In Paris, CAC 40 index rose 0.6% or 24.93 to 4,303.

Aryzta AG rose 0.07% to 51.38 francs after the Switzerland-based bakery products maker reported total group revenue in the first-quarter ending in October rose 0.4% to €1.10 billion.

Total food revenue in the first quarter jumped 6.5% to €796.3 million and revenues in Europe surged 17.6% to €377.6 million. North America revenue in the quarter fell 0.9% to €364.2 million and from the rest of world revenue declined 7.4% to €54.5 million.

Cranswick Plc surged 7.4% to €51.38 after the Germany-based pork products supplier said revenue in the first-half ending in September climbed 15% to £483.5 million from £418.6 million in the prior year.

Profit for the period climbed surged 22.7% to £21.1 million compared to £17.2 million and diluted earnings per share rose to 43.3 pence from 35.6 pence a year earlier.

Pre-tax profit in the period soared 16% to £26.1 million from £22.4 million a year ago period.

Sandwich sales for the period dropped to 5% and sales of continental products fell 3%. Cooked meats sales jumped 13% and Sausage sales increased to 4%.

Chemring Group Plc soared 10.8% to 215.30 pence after the U.K.-based aerospace and defense products maker reported revenue in the fourth-quarter ending in October dropped 24% to £185 million from £242 million in the prior year.

Group''s order book at the end of October slumped 8% to £702 million and debt was reduced by £45 million in the quarter to nearly £249 million.

Essar Energy Plc plunged 6.6% to 93.96 pence after India-focused energy company reported revenue in the first-half jumped 5% to $13.43 billion from $12.85 billion a year ago.

Net loss for the period widened to $343.6 million compared to $180.2 million and basic earnings per share climbed to 26.4 cents from 13.8 cents a year earlier.

For the period, pre-tax loss widened to $498.8 million from $282.8 million in the prior year.

Genel Energy Plc jumped 2.5% to 1,028 pence after the U.K.-based oil and gas explorer plan to invest $500 million for exploration in Ethiopia, Somaliland, Ivory Coast, Malta and Morocco in the next two years.

Orange SA rose 0.4% to €9.57 after the France-based phone service provider is close to an agreement with Luxembourg-based Altice VII S.a.R.L, on sale of its Dominican Republic business for €1 billion.

Rolls-Royce Holding Plc slid 0.03% to 1,237.64 after the U.K.-based aerospace and defense products maker won a $215 million contract with Pratt & Whitney to provide technology used by the U.S. Marine Corps for short take-offs and vertical landings for its F-35B jets.

UBC Media Group Plc rose 0.6% to 6.29 pence after the U.K.-based radio and broadcasting company conditionally agreed to buy privately owned 7digital Group, Inc, owner of digital music technology for £1 million to purchase convertible loan note for a limited time.

In addition, UBC Media Group said turnover for its first-half declined 30% to £1.53 million from £2.20 million a year earlier. Net loss for the period widened to £620,000 compared to £563,000 a year ago period.

Registered users surged three-fold to 1.9 million from 600,000 a year earlier.