Aberdeen Assets Decline, Reckitt to Spin Off Pharma Unit

Nigel Thomas
28 Jul, 2014
New York City

Aberdeen said quarterly assets dropped on

[R]4:00 PM Frankfurt – Aberdeen said quarterly assets dropped on £8.8 billion assets outflow. Ryanair profit surged 152% to €197 million on 11% increase in revenue. Reckitt Benckiser net climbed 23% and plans to spin-off pharmaceuticals unit. Wincor Nixdorf net plunged 12%.[/R]

In London trading, FTSE 100 index slid 0.1% or 6.82 to 6,784.73 and in Frankfurt the DAX index slumped 0.6% or 59.63 to 9,584.38.

In Paris, CAC 40 index rose 0.2% or 10.73 to 4,341.28.

Aberdeen Asset Management Plc plunged 5.4% to 434.50 pence after the U.K.-based investment manager reported assets under management in the third-quarter ending in June fell 0.6% to £322.5 billion or $547.4 billion from previous quarter.

The company added assets dropped in the quarter after clients withdrew £8.8 billion or $14 billion.

Ryanair Holdings Plc climbed 3.5% to €7.09 after the Ireland-based low-cost airline said total revenue in the first-quarter ending in June soared 11% to €1.50 billion from €1.34 billion a year ago.

Profit in the quarter surged 152% from a year earlier to €196.8 million compared to €78.1 million and diluted earnings per share soared to 14.18 pence from 5.40 pence.

Reckitt Benckiser Group Plc jumped 2.7% to 5,210 pence after the U.K.-based health, hygiene products maker reported net revenue in the first-half ending in June dropped 7% to £4.67 billion from £4.99 billion a year ago period.

Net income in the period climbed 23% from a year ago to £812 million compared to £660 million and diluted earnings per share slipped to 113.4 pence from 118.3 pence.

The company plans to spin-off of RB Pharmaceuticals and list as a U.K. company in a year.

Wincor Nixdorf AG declined 4.7% to €37.88 after the Germany-based information technology systems maker said net sales in the third-quarter ending in June were nearly flat at €573 million from €575 million a year ago.

Profit in the quarter plunged 12% from a year earlier to €15 million compared to €17 million and diluted earnings per share soared to 14.18 pence from 5.40 pence.

The company lowered its EBITA outlook to an increase of 17% to €155 million and net sales to decline 4%.