Sports Direct Profit Soared 12%, Kingfisher Net Dropped 37%

Nigel Thomas
10 Sep, 2014
New York City

Barratt Developments profit soared three-fold to

[R]4:00 PM Frankfurt – Barratt Developments profit soared three-fold to £305 million on 21% rise in revenues. Kingfisher net declined 37% to £277 million. Optimal Payments net profit surged 91%. PureCircle net swung to profit after revenue climbed 44%. Sports Direct net jumped 12% to £301 million.[/R]

In London trading, FTSE 100 index fell 0.2% or 13.59 to 6,815.41 and in Frankfurt the DAX index decreased 0.3% or 29.66 to 9,681.04.

In Paris, CAC 40 index slid 0.2% or 9.55 to 4,442.82.

Barratt Developments Plc increased 2.8% to 377.40 pence after the U.K.-based residential property developer said total revenue in the year ending in June surged 21.1% to £3.16 billion form £2.61 billion a year ago period.

Net profit in the year soared 308.8% from a year ago to £305.4 million compared to £74.7 million and diluted earnings per share jumped to 30.4 pence from 7.5 pence.

Kingfisher Plc climbed 3.9% to 319.40 pence after the U.K.-based home renovation retailer reported revenue in the second-quarter ending onAugust 2 rose 0.9% to £5.77 billion form £5.72 billion a year ago period.

Net profit in the quarter declined 37% from a year ago to £277 million compared to £440 million and earnings per share dropped to 11.8 pence from 18.7 pence.

Optimal Payments Plc jumped 5.8% to 500.50 pence after the U.K.-based electronic card payment service provider stated revenue in the second-quarter ending in June soared 34% to $159.1 million from $118.4 million a year ago period.

Net profit in the quarter surged 91% to $27.4 million compared to $14.4 million and diluted earnings per share increased to 17 cents from 9 cents a year earlier.

PureCircle Limited rose 0.6% to 621 pence after the Bermuda-based natural sweeteners and flavors maker stated sales in the year ending in June climbed 44% to $101 million from $70.2 million a year ago period.

Net in the year swung to profit from a year ago to $2.3 million compared to a loss of $9.4 million and diluted earnings per share swung to $1.31 from a loss of $5.80.

Sports Direct International Plc dropped 1.9% to 706 pence after the U.K.-based sports and leisure clothing, footwear and equipment retailer reported group sales in the second-quarter ending on September 9 climbed 12.2% to £711.2 million form £634 million a year ago period.

Profit in the quarter soared 11.8% from a year ago to £301.2 million compared to £269.3 million.

The company said sports retail sales jumped 16.3% to £611.8 million but sales from premium lifestyle segment declined 8.8% to £52.1 million and sales from brand division dropped 7.1% to £47.3 million.