Europe Earnings: Deutsche Post, Dixons, LSE, Thomas Cook

Nigel Thomas
15 May, 2014
New York City

Deutsche Post profit edged up 0.8% to

[R]4:00 PM Frankfurt – Deutsche Post profit edged up 0.8% to €502 million and revenue rose. Dixons Retail agreed to merge with Carphone. LSE profit rose 1% to £353 million. Thomas Cook loss widened to £373 million.[/R]

In London trading, FTSE 100 index slumped 0.8% or 52.01 to 6,826.48 and in Frankfurt the DAX index dropped 0.9% or 88.78 to 9,665.61.

In Paris, CAC 40 index declined 1.1% or 51.34 to 4,449.70.

Deutsche Post AG declined 4.5% to €26.42 after the Germany-based logistics services provider reported revenue in the first-quarter ending in March increased 1.2% to €13.57 billion from €13.40 billion a year ago.

Profit in the quarter rose 0.8% to €502 million compared to €498 million and diluted earnings per share was flat at 40 euro pence from a year earlier.

Dixons Retail Plc tumbled 9.8% to 45.92 pence after the U.K.-based electronics retailer said underlying sales for the year jumped 3% and for the quarter dropped 4%.

The company added group expected full-year underlying profit-before-tax between £150 million and £160 million.

Separately today in a regulatory filing, the retailer said it agreed for all-share “merger of equals” with Carphone Warehouse Group Plc.

Under the terms, shareholders of the Dixons will receive 0.155 of share in the combined entity Dixons Carphone Plc.

Shares of Carphone Warehouse declined 7% to 304.73 pence.

London Stock Exchange Group Plc gained 0.9% to 1,817 pence after the U.K.-based financial and commodity markets operator said total revenue in the year ending in March surged 42% to £1.21 billion from £852.9 million a year ago period.

Profit in the year rose 1% to £353.1 million compared to £348.4 million and earnings per share increased to 107.1 pence from 105.3 pence a year earlier.

Thomas Cook Group Plc plunged 9.3% to 162 pence after the U.K.-based travel company reported revenue in the first-half ending in March dropped 6.5% to £3.01 billion from £3.22 billion a year ago.

Net loss in the quarter widened to £372.9 million compared to £311 million and diluted loss per share narrowed to 25.3 pence from 27.9 pence a year earlier.