Next Profit Surges; Ashmore, Gazprom, Morrison Profit Plunge

Nigel Thomas
11 Sep, 2014
New York City

Ashmore pre-tax profit tumbled 35% to

[R]4:00 PM Frankfurt – Ashmore pre-tax profit tumbled 35% to £131 million on 26% decline in revenues. Gazprom profit declined 41% to 223 billion rubles but revenue jumped 7%. Next profit surged 19% to £258 million. Ocado third-quarter sales soared 23%. Morrison profit plunged 12% to £183 million.[/R]

In London trading, FTSE 100 index dropped 0.6% or 42.55 to 6,787.56 and in Frankfurt the DAX index slipped 0.3% or 30.48 to 9,669.69.

In Paris, CAC 40 index fell 0.4% or 19.63 to 4,431.16.

Ashmore Group Plc plunged 6.6% to 322 pence after the U.K.-based investment group said net revenue in the year ending in June declined 26% to £262.9 million form £355.5 million a year ago period.

Pre-tax profit in the year tumbled 35% from a year ago to £130.8 million compared to £202.2 million and diluted earnings per share dropped to 18.4 pence from 28.7 pence.

Gazprom OAO slipped 1.7% to 136.93 rubles after the Russia-based natural gas explorer reported revenue in the first-quarter ending in March jumped 6.5% to 1.56 trillion rubles from 1.46 trillion rubles a year ago period.

Net profit in the quarter declined 41.4% from a year ago to 223 billion rubles compared to 380.7 billion rubles.

Next Plc declined 3.2% to 6,934.75 pence after the U.K.-based apparel and accessories retailer said total revenue in the year ending in July climbed 10.3% to £1.85 billion form £1.68 billion a year ago period.

Net profit in the year surged 18.6% from a year ago to £257.7 million compared to £217.3 million and diluted earnings per share jumped to 173.3 pence from 142.1 pence.

Ocado Group Plc jumped 2.3% to 318.88 pence after the U.K.-based online groceries retailer stated total sales in the third-quarter ending on August 10 soared 22.5% to £231.9 million form £189.2 million a year ago period.

Wm. Morrison Supermarkets Plc edged up 0.1% to 176.80 pence after the U.K.-based food retailer reported sales in the first-half ending on August 3 dropped 4.9% to £8.50 billion form £8.94 billion a year ago period.

Profit in the period plunged 11.8% from a year ago to £183 million compared to £267 million and diluted earnings per share slumped to 7.81 pence from 11.44 pence.