Europe Earnings: Greencore, Marks & Spencer, Vodafone, United Internet

Nigel Thomas
20 May, 2014
New York City

Greencore surged after sales jumped 8% to

[R]4:00 PM Frankfurt – Greencore surged after sales jumped 8% to £620 million but net declined 42%. Marks & Spencer said net climbed 14% to £506 million. Vodafone net surged on 45% stake sale of Verizon Wireless and lowered its operating earnings of 2015. United Internet net jumped 35%.[/R]

In London trading, FTSE 100 index slipped 0.5% or 36.63 to 6,807.92 and in Frankfurt the DAX index slid 0.2% or 18.07 to 9,641.32.

In Paris, CAC 40 index fell 0.3% or 14.90 to 4,454.86.

Deutsche Annington Immobilien SE plunged 6.3% to €20.03 after the Germany-based real estate company said its major shareholders sold their stake in the company for about 12.5% at €19.50 per share.

Greencore Group Plc surged 6.4% to 263 pence after the U.K.-based convenience food maker reported group revenue in the first-half ending on March 28 climbed 8.2% to £619.8 million from £572.9 million a year ago.

Profit in the period declined 41.6% to £12.2 million compared to £20.9 million and diluted earnings per share dropped to 2.8 pence from 5.1 pence a year earlier.

Marks and Spencer Group Plc fell 0.7% to 447.90 pence after the U.K.-based retailer said group sales in the year ending on March 29 jumped 2.7% to £10.3 billion from £10 billion a year ago period.

Net income in the year climbed 13.7% to £506 million compared to £444.8 million and diluted earnings per share increased to 32.2 pence from 28.2 pence a year earlier.

Vodafone Group Plc declined 4.8% to 206.78 pence after the U.K.-based mobile company reported group revenue in the year ending in March edged up 0.8% to £38.35 billion from £38.04 billion a year ago.

Net profit in the year surged £59.42 billion compared to £657 million and diluted earnings per share swung to 41.77 pence from a loss of 15.66 pence a year earlier.

The company net profit in the year mainly due to completion of 45% stake sale of the U.S.-based Verizon Wireless worth $130 billion.

The company reported service revenue in the year dropped for the seventh quarter in a row.

Vodafone forecasted earnings before interest, taxes, depreciation and amortization in 2015 may decline in the range of £11.4 billion to £11.9 billion.

United Internet AG climbed 7.4% to €34.04 after the Germany-based internet service provider reported sales in the first-quarter ending in March soared 12.7% to €709.9 million from €629.7 million a year ago period.

Net income in the quarter jumped 35.1% to €59.88 million compared to €44.31 million and diluted earnings per share increased to €0.31 from €0.23 a year earlier.