Europe Earnings: Casino Guichard, IHG, John Wood, MTU Aero, Pandora

Nigel Thomas
18 Feb, 2014
New York City

Casino Guichard net declined 19% to

[R]3:40 PM Frankfurt – Casino Guichard net declined 19% to €853 million but sales soared 16%. InterContinental Hotels tumbled 31%. John Wood profit in the year soared 14%. MTU Aero net fell 1% to €172 million. Pandora net profit surged 85% and plans to buy back 2.4 billion kronor of shares.[/R]

In London trading, FTSE 100 index gained 0.4% or 28.77 to 6,764.77 and in Frankfurt the DAX index rose 0.05% or 5 to 9,661.76.

In Paris, CAC 40 index slid 0.1% or 6.09 to 4,329.08.

Casino Guichard Perrachon SA climbed 4.1% to €81.54 after the France-based discount store operator reported sales in the year ending in December soared 15.9% to €48.64 billion from €41.97 billion a year ago.

Net profit in the year declined 19.5% to €853 million compared to €1.06 billion a year earlier.

The retailer said trading profit in the year jumped 18.1% to €2.36 billion and underlying net profit soared 9.7% to €618 million a year ago period.

InterContinental Hotels Group Plc declined 3.6% to 1,973 pence after the U.K.-based hotelier said revenues in the year ending in December increased 4% to $1.90 billion from $1.83 billion a year earlier.

Profit in the year tumbled 30.7% to $372 million compared to $537 million and diluted earnings per share dropped to $1.39 from $1.84 a year ago period.

John Wood Group Plc jumped 4.7% to 708.20 pence after the U.K.-based energy service provider reported revenue grew 3% to $7.06 billion from $6.83 billion a year ago.

Profit in the year soared 14% to $412.8 million compared to $361.4 million and basic earnings per share climbed 14% to 81.4 cents from 71.4 cents a year earlier.

MTU Aero Engines AG increased 1.4% to €63.89 after the Germany-based military and commercial aircrafts engine maker stated revenues in the year ending in December jumped 11% to €3.74 billion from €3.38 billion a year ago period.

Net income in the year fell 1.4% to €172.4 million compared to €174.8 million and earnings per share slipped 1.7% to €3.39 from €3.45 a year ago.

The company added order backlog was €10.74 billion compared to €11.48 billion in 2012.

MTU forecasted said group revenues are expected to grow to about €3.75 billion from €3.57 billion a year earlier.

Pandora A/S gained 1.3% to 322.50 kronor after the Denmark-based jewelry maker said group revenue in the in the year ending in December climbed 35.4% to 9.01 billion kronor from 6.65 billion kronor a year earlier.

Net profit in the year surged 84.7% to 2.22 billion kronor compared to 1.20 billion kronor a year earlier.

The company expects to buy back shares up to 2.4 billion kronor or $440 million in 2014.