Europe Earnings: Ashmore, Aixtron, Fresenius, GKN, St. James's, Vivendi

Nigel Thomas
25 Feb, 2014
New York City

Ashmore profit plunged 32%. Aixtron net loss narrowed. Fresenius forecasted sales and net to grow. GKN Profit in the year declined 16% to

[R]4:00 PM Frankfurt – Ashmore profit plunged 32%. Aixtron net loss narrowed. Fresenius forecasted sales and net to grow. GKN Profit in the year declined 16% to £392 million. St. James''s Place said pre-tax profit jumped 42%. Vivendi net surged €1.9 billion.[/R]

In London trading, FTSE 100 index dropped 0.8% or 51.38 to 6,814.48 and in Frankfurt the DAX index slipped 0.4% or 38.26 to 9,670.68.

In Paris, CAC 40 index fell 0.4% or 18.40 to 4,400.73.

Ashmore Group Plc declined 6.9% to 316.40 pence after the U.K.-based investment manager said total revenue in the first-half ending in December dropped 7.5% to £155.3 million from £167.8 million a year ago.

Profit for the period plunged 31.7% to £64.1 million compared to £93.9 million and diluted earnings per share dropped to 8.83 pence from 13.35 pence a year earlier.

Aixtron SE plummeted 8.3% to €11.40 after the Germany-based semiconductor maker stated sales in the fourth-quarter ending in December declined 34% to €51.1 million from €77.5 million a year earlier.

Net loss in the quarter narrowed to €14.8 million compared to €43.2 million and loss per share dropped to €0.13 from €0.43 in the same quarter of last year.

Fresenius SE & Co KGaA plunged 8.3% to €109.15 after the Germany-based health care company said forecasted sales in the year to grow between 12% to 15% to €23.1 billion and adjusted net income to increase in the range of 2% to 5%.

GKN Plc slipped 2.5% to 404.60 pence after the U.K.-based automotive and aerospace engineering group stated sales in the year ending in December climbed 10% to £7.14 billion from £6.51 billion a year ago period.

Profit in the year declined 15.7% to £392 million compared to £465 million and diluted earnings per share fell to 23.8 pence from 29 pence a year

On management basis, pre-tax profit jumped 17% to £578 million from £493 million a year ago.

GKN said net debt in the year slid to £732 million, a £139 million lower than last year.

St. James''s Place Plc climbed 5.2% to 836 pence after the U.K.-based financial service provider said pre-tax profit jumped 42% to £190.7 million and net income for the year climbed £6.85 billion from £4.26 billion.

Vivendi SA dropped 2.5% to €20.70 after the France-based phone company reported revenue in the year ending in December fell 2% to €22.14 billion from €22.58 billion.

Net earnings in the year surged to €1.97 billion compared to €179 million and diluted earnings per share climbed to €1.47 from €0.14 a year earlier.

Adjusted net income in the year dropped 9.7% to €1.540 billion compared to last year.

The company said net debt in the year reduced to €11.1 billion from €13.4 billion at year-end 2012.

Yesterday, Vivendi confirmed it has been approached by cable-TV group Numericable''s holding company Altice over a possible tie up with its mobile phone unit SFR, but not received any formal offer.

French media reported that Altice would buy above 50% in SFR while Vivendi may retain 32%.