Europe Movers: Imagination Technologies, Obtala Resources, Stanley Gibbons

Nigel Thomas
27 Jun, 2014
New York City

Intel Capital sold its 9% stake in Imagination Technologies. Obtala Resources profit surged to

[R]4:00 PM Frankfurt – Intel Capital sold its 9% stake in Imagination Technologies. Obtala Resources profit surged to £40.4 million. Rolls-Royce may supply new engines to Airbus Group. Stanley Gibbons profit plunged 49% while revenue soared 45%.[/R]

In London trading, FTSE 100 index gained 0.3% or 18.54 to 6,753.66 and in Frankfurt the DAX index rose 0.1% or 9.94 to 9,814.84.

In Paris, CAC 40 index slid 0.2% or 7.26 to 4,432.37.

Berendsen Plc fell 0.9% to 969.50 pence after the U.K.-based clean and maintain the textile company said underlying revenue for the first five months jumped at 3% from reported revenue in the same period was fell to 1%.

Imagination Technologies Group Plc declined 7.2% to 208.70 pence after Intel Capital Corp, the investment subsidiary of Intel Corporation, intends to sell up to 25 million shares or 9% stake at 205 pence per share or valued at £51.25 million or $87.3 million. Credit Suisse arranged the deal.

Obtala Resources Plc dropped 3.7% to 10.83 pence after the U.K.-based agricultural and timber explorer said revenue in the year ending in December tumbled 67% to £304,000 from £929,000 a year ago.

Profit for the year surged to £40.45 million compared to £10.56 million and diluted earnings per share jumped to 9.44 pence from 5.97 pence a year earlier.

The agri-processing company benefited from £107.4 million adjustment in the fair value of its forestry assets in Mozambique.

Rolls-Royce Holding Plc gained 1.6% to 1,062.80 pence and the U.K.-based aerospace, marine and energy services provider is likely to supply new fuel savings engines to Airbus Group NV for its A330 models.

Stanley Gibbons Group Plc climbed 4.3% to 290 pence after the U.K.-based collectibles dealer of philatelic accessories said revenues in the year ending in March soared 45.5% to £51.8 million from £35.6 million a year ago.

Profit in the year plunged 49% to £2.38 million compared to £4.67 million and diluted earnings per share declined to 6.25 pence from 18.10 pence a year earlier.