Europe Earnings: Brenntag, HeidelbergCement, Inditex, Ophir Energy, Smiths

Nigel Thomas
19 Mar, 2014
New York City

Brenntag profit rose 1% to

[R]4:00 PM Frankfurt – Brenntag profit rose 1% to €339.2 million and proposed a 3-for-1 stock split. HeidelbergCement profit surged 79% to €945 million. Inditex net grew 1% to €2.4 billion. Ophir Energy failed to discover oil at offshore fields in Gabon. Smiths pre-tax profit fell 4%.[/R]

In London trading, FTSE 100 index slid 0.2% or 12.35 to 6,592.93 and in Frankfurt the DAX index gained 0.5% or 50.59 to 9,293.14.

In Paris, CAC 40 index rose 0.2% or 10.18 to 4,323.44.

Brenntag AG rose 0.8% to €132 after the Germany-based chemical distributor said sales in the year ending in December rose 0.8% to €9.77 billion from €9.69 billion a year earlier.

Profit in the year rose 1% to €339.2 million compared to €335.8 million and earnings per share grew to €6.59 from €6.52 a year ago.

The chemical distributor proposes for a 3-for-1 stock split at the annual shareholder meeting and the company expects earnings growth in this fiscal year.

HeidelbergCement AG dropped 2.1% to €60.02 after the Germany-based cement producer reported group revenue in the year ending in December slid 0.6% to €13.94 billion from €14.02 billion a year ago.

Profit in the year surged 78.6% to €945 million compared to €529 million and earnings per share more than doubled to €3.98 from €1.52 a year ago.

Inditex SA jumped 4.2% to €107.35 after the Spain-based apparel retailer reported sales in the year ending in December jumped 5% to €16.72 billion from €15.95 billion a year ago.

Comparable sales in the year increased 3%.

Net income in the year grew 1% to €2.38 billion compared to €2.36 billion and earnings per share grew to €3.81 from €3.79 a year earlier.

The company added net 331 stores in fiscal 2013 and reached to a total of 6,340 stores in 87 markets.

Ophir Energy Plc plunged 15.8% to 248.85 pence after the U.K.-based oil and gas explorer failed to find significant hydrocarbons in targeted reservoirs through drilling at the Padouck Deep-1 well in the Ntsina Block, offshore Gabon.

Smiths Group Plc declined 5.8% to 1,272 pence after the U.K.-based security equipment maker said revenue in the first-half ending in January fell 2% to £1.44 billion from £1.48 billion a year ago.

Pre-tax profit in the period dropped 4% to £215 million compared to £223 million and basic earnings per share slipped 4% to 39.5 pence from 40.9 pence a year earlier.