UTV Media, WPP Net Surge; Antofagasta, Petrofac Net Plunge

Nigel Thomas
26 Aug, 2014
New York City

Antofagasta net plunged 16% after revenue declined 4%. Petrofac profit tumbled 44% and revenue plunged 11% but backlog surged 35% to $20 billion. Regus declined 5% to

[R]4:00 PM Frankfurt – Antofagasta net plunged 16% after revenue declined 4%. Petrofac profit tumbled 44% and revenue plunged 11% but backlog surged 35% to $20 billion. Regus declined 5% to £25 million. UTV Media profit climbed 132% and revenue soared. WPP profit surged 26% to £396 million.[/R]

In London trading, FTSE 100 index gained 0.5% or 31.37 to 6,806.62 and in Frankfurt the DAX index rose 0.3% or 32.55 to 9,542.69.

In Paris, CAC 40 index jumped 0.7% or 32.75 to 4,374.86.

Antofagasta Plc dropped 2.3% to 789 pence after the Chile-based copper mining company reported revenue in the first-half ending in June declined 4.2% to $2.66 billion from $2.78 billion a year ago period.

Net earnings in the period plunged 16.3% from a year ago to $330.8 million compared to $395 million and earnings per share dropped to 33.6 cents from 40.1 cents.

Petrofac Limited slipped 1.5% to 1,109.36 pence after the U.K.-based exchange operator reported revenue in the first-quarter ending in June plunged 10.7% to $2.5 billion from $2.8 billion a year ago period.

Net profit in the period tumbled 44% from a year ago to $136 million compared to $243 million and diluted earnings per share declined to 39.80 cents from 70.72 cents.

The company said as of June new orders were $7.2 billion and backlog surged 35% to $20.3 billion and expected good revenue for the rest of the year and beyond.

Regus Plc plunged 6.4% to 184 pence after the U.K.-based office outsourcing service reported revenue in the first-half ending in June climbed 8.1% to £804.7 million from £744.7 million a year ago period.

Profit in the period declined 5.3% from a year ago to £24.8 million compared to £26.2 million and diluted earnings per share slid to 2.6 pence from 2.7 pence.

UTV Media Plc fell 1.3% to 207 pence after the Ireland focused broadcasting company said group revenue in the first-half ending in June soared 13% to £57.8 million from £51.2 million a year-ago period.

Profit in the period climbed 131.9% from a year ago to £7.93 million compared to £3.42 million and diluted earnings per share soared to 8.13 pence from 3.42 pence.

WPP Plc, the advertising company reported revenue in the first-half ending in June jumped 2.7% to £5.47 billion from £5.33 billion a year ago period.

Profit in the period surged 25.6% from a year ago to £396 million compared to £315 million and diluted earnings per share jumped to 27 pence from 21.5 pence.

Separately today the company’s subsidiary agreed to acquire France-based Keyade, a digital search marketing agency. In France, the Keyade generates revenues of around US$800 million and employs over 5,000 people.

WPP’s Millward Brown unit today also acquired the U.S.-based InsightExpress, Inc. a provider of media analytics and marketing accountability solutions in the United States.