Europe Earnings: Carrefour, LVMH, Marks and Spencer, Rolls-Royce, Tryg

Nigel Thomas
10 Apr, 2014
New York City

Carrefour said revenue in the first-quarter dropped 4% to

[R]4:00 PM Frankfurt – Carrefour said revenue in the first-quarter dropped 4% to €19.8 billion. Hays forecasted operating profit for the year between £130 million and £141 million. LVMH reported quarterly revenue jumped 4% to €7.2 billion. Rolls-Royce secured $100 million service contract from U.S. Navy.[/R]

In London trading, FTSE 100 index gained 0.4% or 27.98 to 6,663.59 and in Frankfurt the DAX index rose 0.2% or 18.44 to 9,524.79.

In Paris, CAC 40 index edged up 0.03% or 1.12 to 4,443.80.

Carrefour SA rose 0.09% to €29.05 after the France-based discount stores operator said revenues in the first-quarter ending in March dropped 3.7% to €19.8 billion.

Hays Plc soared 5.4% to 152.50 pence after the U.K.-based recruitment group said estimated operating profit for the year ending June 30 to be between £130 million and £141 million.

Hays said net fees in the third quarter ending in March increased 1% and net fees from Asia Pacific, which represented 22% of group net fees, dropped 4% while net fees from Australia & New Zealand, net fees declined 10%.

United Kingdom & Ireland reported strong net fee growth of 14%.

LVMH Moet Hennessy Louis Vuitton SA climbed 4% to €141.95 after the France-based luxury goods maker reported revenue in the first-quarter jumped 4% to €7.21 billion or $9.95 billion compared to €6.91 billion a year ago.

Marks and Spencer Group Plc dropped 2.8% to 443.27 pence after the U.K.-based specialty retailer stated group sales increased 1.9% and U.K. total sales rose 1.5% and comparable sales fell 0.2%. International sales climbed 4.7%.

Rolls-Royce Holding Plc slid 0.8% to 1,060 pence after the U.K.-based aerospace and defense products maker secured a $100 million service contract with the U.S. Navy for the F405 Adour engines that power the U.S. Navy''s T-45 training aircraft.

Tryg A/S declined 3.9% to 511 kronor after the Denmark-based insurance service provider reported gross premium income in the first-quarter ending in March declined to 4.58 billion kronor from 4.94 billion kronor a year ago.

Profit in the quarter plunged 20.9% to 455 million kronor compared to 575 million kronor a year earlier.