GTECH Arranges $10.7 B Loan, Kazakhmys Swings to Profit

Nigel Thomas
21 Aug, 2014
New York City

Costain profit doubled after revenue soared 18% to

[R]4:00 PM Frankfurt – Costain profit doubled after revenue soared 18% to £504 million. GTECH received $10.7 billion bank loan to acquire U.S. based International Game Technology. Kazakhmys net swung to profit $49 million. Raiffeisen Bank net surged 19% to €371 million.[/R]

In London trading, FTSE 100 index rose 0.3% or 20.11 to 6,775.59 and in Frankfurt the DAX index jumped 0.8% or 75.49 to 9,390.06.

In Paris, CAC 40 index climbed 1.1% or 45.54 to 4,286.33.

Costain Group Plc fell 0.5% to 271.75 pence after the U.K.-based engineering consultancy and construction company stated group revenue in the first-half ending in June soared 18.1% to £504 million from £426.8 million a year ago period.

Net profit in the period doubled from a year ago to £5.1 million compared to £2.8 million and diluted earnings per share jumped to 5.6 pence from 3.8 pence.

The company awarded one year contract extension in its three-year contract for operation and maintenance of the government pipeline and storage system from the Oil & Pipelines Agency.

GTECH SpA rose 1.5% to €17.92 after the Italy-based traditional lotteries and betting pools operator said syndicated banks agreed for senior bridge term loan credit facility of $10.7 billion for a year on planned acquisition of the U.S. slot machine maker International Game Technology.

Kazakhmys Plc declined 5.6% to 291.30 pence after the U.K.-based natural resource company said revenue in the first-half ending in June plunged 17.8% to $1.29 billion from $1.57 billion a year ago period.

Net in the period swung to profit $49 million compared to a net loss $962 million and earnings per share swung to 11 cents from a loss of $1.84 a year earlier.

Raiffeisen Bank International AG surged 11% to €20.70 after the Austria-based bank reported net interest income in the first-half ending in June climbed 6.4% to €1.95 billion from €1.84 billion a year ago period.

Net profit in the period surged 19.3% from a year ago to €371 million compared to €311 million and diluted earnings per share jumped to €1.34 from €1.18.

Sportech Plc plunged 6.2% to 79.75 pence after the U.K.-based e-gaming services provider stated revenue in the first-half ending in June dropped 3.3% to £52.6 million from £54.4 million a year ago period.

Net profit in the period doubled from a year ago to £69 million compared to £1.3 million and diluted earnings per share climbed to 32.2 pence from 0.6 pence.

The company won a case against HMRC charged the taxes incorrectly, in June these repaid of £93 million consists £41 million of value added tax and £52 million in simple interest.