Europe Earnings: Kingfisher, Man Group, Paypoint, Severn Trent, Tesco

Nigel Thomas
29 May, 2014
New York City

Helical Bar profit and revenues surged. Kingfisher net soared 19% to

[R]4:00 PM Frankfurt – Helical Bar profit and revenues surged. Kingfisher net soared 19% to £142 million. Man Group is in talk to acquire Numeric Holdings. Paypoint profit climbed 11% to £36 million. Severn Trent net surged 99% to £435 million. Tate & Lyle net was flat on sales dropped 3%.[/R]

In London trading, FTSE 100 index gained 0.3% or 20.43 to 6,871.65 and in Frankfurt the DAX index slid 0.07% or 6.88 to 9,932.29.

In Paris, CAC 40 index fell 0.1% or 5.95 to 4,525.68.

Helical Bar Plc gained 1.7% to 381.75 pence after the U.K.-based property developer said revenues in the year ending in March soared 88.9% to £123.64 million from £65.44 million a year ago.

Profit in the year surged to £87.6 million compared to £5.87 million and diluted earnings per share climbed to 73.2 pence from 5 pence from a year earlier.

Kingfisher Plc declined 4.5% to 398.40 pence after the U.K.-based home-improvement retailer reported total group sales in the first-quarter ending on May 3 climbed 6.1% to £2.78 billion and retail profit soared 18.8% to £142 million.

The retailer said it received proceeds of €236 million after disposal of 21% stake in Hornbach in March 2014.

Man Group Plc, the U.K.-based investment company confirmed acquisition talks with the U.S.-based Numeric Holdings LLC

Paypoint Plc increased 0.4% to 1,054 pence after the U.K.-based payment solution provider said revenue in the year ending in March rose 1.7% to £212.2 million from £208.5 million a year ago period.

Profit in the year climbed 11.5% to £35.92 million compared to £30.95 million and diluted earnings per share jumped to 52.6 pence from 45.3 pence from a year earlier.

Saga Plc opened higher and traded at 186.25 pence after the U.K.-based travel, financial, healthcare and media products provider stock.

Last week, the company set the price for its initial public offer at 185 pence, the bottom of the 185 pence to 245 pence price range set earlier.

Severn Trent Plc rose 0.9% to 1,951 pence after the U.K.-based clean and waste water services provider reported revenue in the year ending in March increased 1.4% to £1.86 billion from £1.83 billion a year ago.

Profit in the year surged 98.7% to £434.9 million compared to £218.9 million and diluted earnings per share doubled to 181.3 pence from 90.5 pence from a year earlier.

Tate & Lyle Plc climbed 3.8% to 700.01 pence after the U.K.-based food ingredients provider reported sales in the year ending in March dropped 3% to £3.15 billion from £3.26 billion a year ago.

Profit in the year was flat at £273 million and diluted earnings per share slid to 58 pence from 57.4 pence a year ago period.

Tesco Plc increased 1.3% to 305.35 after the food retailer said it has formed a joint venture with China Resources Enterprise to create a multi-format retailer in China.