Tesco Decline on Profit Guidance, Bwin.party Net Loss Widens

Nigel Thomas
29 Aug, 2014
New York City

Bwin.party net loss widened to

[R]4:00 PM Frankfurt – Bwin.party net loss widened to €94 million after revenue declined 7%. D''Ieteren automobile distributor profit plunged 12% to €79 million. Restaurant Group revenue and profit soared. Stobart climbed after first-half outlook. Tesco declined on lowered profit guidance.[/R]

In London trading, FTSE 100 index slid 0.1% or 7.45 to 6,798.35 and in Frankfurt the DAX index slipped 0.7% or 65.95 to 9,396.61.

In Paris, CAC 40 index fell 0.3% or 12.63 to 4,353.41.

Bwin.party Digital Entertainment Plc surged 10.8% to 88.80 pence after the U.K.-based online gambling provider said revenue in the first-half ending in June declined 7.1% to €295.8 million from €318.6 million a year ago period.

Net loss in the period widened from a year ago to €94 million compared to $11.6 million and diluted loss per share jumped to 11.4 cents from 1.3 cents.

D''Ieteren SA dropped 2.5% to €31.68 after the Belgium-based automobile distributor reported revenue in the first-half ending in June was flat at €2.98 billion from a year ago period.

Profit in the period plunged 11.6% from a year ago to €79 million compared to €89.4 million and diluted earnings per share dropped to €1.43 from €1.62.

The company said sales from European region declined 5.9% and non-European sales climbed 5.8%.

Restaurant Group Plc slumped 2.9% to 639.50 pence after the U.K.-based restaurants and pub operator stated total revenue in the first-half ending in June climbed 10% to £308 million from £280 million a year ago period.

Profit in the period soared 45.5% a year earlier to £32.6 million compared to £22.4 million and diluted earnings per share advanced to 16.21 pence from 11.14 pence.

Stobart Group Limited climbed 3.6% to 122.50 pence after the U.K.-based infrastructure services provider’s chief executive officer Andrew Tinkler said July total tons supply in energy division surged above 50% but overall profit per ton slipped while rail division revenue increased from external customers by around 40%.

Total numbers of passenger in the period in aviation segment soared 20% from a year ago.

Tesco Plc declined 7.5% to 227.80 pence after the second profit warning in two months. The U.K.-based groceries and home goods retailer forecasted profit between £2.4 billion and £2.5 billion for the year and for the six months ending on August 23 near £1.1 billion.

The retailer reduced its interim dividend by 75% to 1.16 pence per share.