Europe Earnings: Betfair, Shire, Real Good Food, Sweett Group

Nigel Thomas
03 Dec, 2013
New York City

Betfair profit climbed 56% but revenue dropped. Sweett Group profit doubled and revenue declined 18%. ThyssenKrupp AG completed its

[R]3:40 PM Frankfurt – Betfair profit climbed 56% but revenue dropped. Sweett Group profit doubled and revenue declined 18%. ThyssenKrupp AG completed its €882.3 million through an offering and unwound its financial relationship with Finland based company.[/R]

In London trading, FTSE 100 index dropped 0.7% or 49.64 to 6,546 and in Frankfurt the DAX index slumped 1.4% or 134.74 to 9,267.

In Paris, CAC 40 index declined 1.9% or 79.93 to 4,206.

Antofagasta Plc declined 5% to 741.50 pence after UBS lowered its price target 870 pence to 845 pence.

Betfair Group Ltd jumped 4.4% to 1,075 pence after the U.K.-based online betting and gaming company reported total revenue in the first-half ending in October dropped 6% to £188 million from £200.6 million a year ago.

Profit for the period climbed 56% to £32.5 million compared to £20.9 million and earnings per share soared to 26.2 pence from 17.4 pence a year earlier.

The gaming company said mobile revenue in the period jumped 70% and underlying operating earnings surged 16% to £48.9 million.

BNP Paribas SA slumped 2.4% to €53.81 after Nomura lowered its view on France-based banking group.

Sonova Holding AG slipped 1.2% to 123.80 francs after Morgan Stanley downgraded the Switzerland-based healthcare company’s stock.

Shire Plc fell 1.3% to 2,674 pence and the U.K.-listed biopharmaceutical company said its U.S. subsidiary will supply an authorized generic version of its product Adderall XR and Sandoz Inc. will market a generic version of its attention-deficit hyperactivity-disorder from July 1, 2016.

Sweett Group Plc plunged 13.4% to 61.07 pence after the U.K.-based construction company said revenue in the first-half ending in September jumped 17.8% to £44.4 million from £37.7 million a year ago.

Profit for the period increased to £2.32 million from £1.78 million and diluted earnings per share jumped to 3.4 pence from 1.8 pence a year earlier.

The company said net debt in the period dropped 25.2% to £7.1 million.

ThyssenKrupp AG dropped 2.4% to €17.20 after the Germany-based steel maker raised €882.3 million through an offering.

The Real Good Food Company Plc plunged 15.6% to 29 pence after the U.K.-based non-refined sugar distributor said revenue in the first-half ending in September declined 17.8% to £130.1 million from £137.8 million a year ago.

Profit for the period tumbled 80.3% to £191,000 compared to £972,000 a year earlier.