Europe Earnings: Algeta, Britvic, De La Rue, Severn Trent, Sanderson

Nigel Thomas
26 Nov, 2013
New York City

Algeta received preliminary acquisition offer from Bayer AG. Britvic profit climbed 8%. De La Rue reported flat yearly profit. KCOM profit edged up. Mitchells & Butlers net doubled to

[R]3:40 PM Frankfurt – Algeta received preliminary acquisition offer from Bayer AG. Britvic profit climbed 8%. De La Rue reported flat yearly profit. KCOM profit edged up. Mitchells & Butlers net doubled to £136 million. Premier Oil launched a bond offering. Severn Trent profit surged.[/R]

In London trading, FTSE 100 index fell 0.4% or 30.09 to 6,665 and in Frankfurt the DAX index edged up and flat or 0.29 to 9,300.

In Paris, CAC 40 index slid 0.2% or 7.93 to 4,294.

Algeta ASA surged 32.8% to 351.50 kronor after the Norway-based biotechnology company’s board confirmed that it is in receipt of a preliminary acquisition proposal from Bayer AG of 336 kronor a share of Algeta or for $2.4 billion.

Britvic Plc jumped 3.2% to 626.50 pence after the U.K.-based non-alcoholic beverage maker reported revenue in the year on September 29 dropped 5% to £234 million from £245.4 million a year ago.

Profit for the year surged 7.8% to £61.9 million compared to £57.4 million and diluted earnings per share grew to 25.3 pence from 22.4 pence a year earlier.

EBITA for the year climbed 18.4% to £137.9 million with a 120 bps improvement in margin and adjusted earnings per share soared 27.5% to 35.2 pence.

De La Rue Plc surged 9.3% to 915 pence after the U.K.-based security documents maker said revenue in the year on September 29 jumped 5.2% to £1.32 billion from £1.26 billion a year ago.

Profit for the period was nearly flat at £22.2 million compared to £22.5 million and diluted earnings per share slid to 21.7 pence from 21.9 pence a year earlier.

Operating profit for the quarter jumped 18% to £39.1 million.

KCOM Group Plc dropped 2.9% to 102 pence after the U.K.-based phone and broadband service provider said revenue in the first-half ending in September fell 1.7% to £185.5 million from £188.7 million a year ago period.

Profit for the period edged up to £19.9 million compared to £19.6 million and diluted earnings per share rose to 3.88 pence from 3.80 pence a year earlier.

Net debt at September-end increased to £99.7 million from £94.3 million a year ago.

Mitchells & Butlers Plc climbed 5.7% to 413.20 pence after the U.K.-based restaurants and pubs operator reported total revenues in the year ending on September 28 was flat at £1.89 billion from a year ago.

Profit for the year nearly doubled to £136 million compared to £70 million and diluted earnings per share surged to 33 pence from 17 pence a year earlier.

The company added profit-before-tax soared to £150 million from £83 million in last year.

Premier Oil Plc slipped 1.7% to 307.60 pence after the U.K.-based oil and gas explorer today launched an offer of 5% sterling bonds maturing on December 11, 2020 with an initial subscription amount of £2,000 available to wholesale and retail investors under its £500 million euro medium term note program.

Severn Trent Plc fell 1.2% to 1,763.75 pence after the U.K.-based water utility service provider reported revenue in the first-half ending in September increased 0.5% to £922.4 million from £917.7 million a year ago period.

Profit for the period surged nearly two-fold to £344.8 million compared to £118.1 million and diluted earnings per share climbed to 144.5 pence from 49 pence a year earlier.

Sanderson Group Plc soared 7.4% to 72.50 pence after the U.K.-based information technology service provider reported revenue in the first-half ending in September grew to £13.8 million from £13.4 million a year ago period.

Profit for the period dropped to £1.7 million compared to £2.4 million and diluted earnings per share slumped to 3.7 pence from 5.2 pence a year earlier.