Europe Movers: Associated British Foods, Fuller, Smith, Game Digital, KCOM

Nigel Thomas
06 Jun, 2014
New York City

Associated British Foods agreed to acquire Dorset Cereals brand from Wellness Foods. Fuller, Smith profit jumped 4% to

[R]4:00 PM Frankfurt – Associated British Foods agreed to acquire Dorset Cereals brand from Wellness Foods. Fuller, Smith profit jumped 4% to £29 million. Game Digital to raise 130 million through initial public offering. KCOM net soared 8% to £39 million.[/R]

In London trading, FTSE 100 index jumped 0.6% or 39.51 to 6,853 and in Frankfurt the DAX index increased 0.4% or 39.38 to 9,987.21.

In Paris, CAC 40 index climbed 0.7% or 30.73 to 4,579.46.

Associated British Foods Plc slid 0.1% to 3,032.30 pence after the U.K.-based food conglomerate agreed to acquire the Dorset Cereals brand from Wellness Foods for £50 million.

Fuller, Smith & Turner Plc jumped 2.9% to 975 pence after the U.K.-based brewery maker said group revenue in the year ending on March 29jumped 6% to £288 million from £271.5 million a year ago.

Profit in the year jumped 3.5% to £29.1 million compared to £28.1 million and diluted earnings per share increased to 51.39 pence from 49.95 pence a year earlier.

The company said adjusted pretax profit for the year ended March 29 rose 10% to £34.1 million in 2014, which was ahead of the consensus expectation of £33 million.

The company added food and accommodation sales climbed 10% and pubs and hotels jumped 8.3% from a year earlier.

Game Digital Plc, the U.K.-based video game retailer said it expected to receive gross proceeds of £20 million from the IPO while selling shareholders will receive £101 million.

KCOM Group gained 1.7% to 92.40 pence after the U.K.-based communication services provider reported revenue in the year ending in March slid 0.6% to £370.7 million from £372.87 million a year ago period.

Profit in the year soared 8.4% to £38.8 million compared to £35.8 million and diluted earnings per share rose to 7.55 pence from 6.99 pence a year earlier.

Paternoster Resources Plc plunged 11.7% to 28.7 pence after the U.K.-based natural resources investment group said revenue in the year ending in December plunged 66.7% to £230,214 from £692,015 a year ago.

Net in the year swung to a loss of £33,148 compared to profit of £449,833 a year earlier.