JD Sports Profit Climbs; Inditex, Smiths Group Profit Fall

Nigel Thomas
17 Sep, 2014
New York City

DS Smith climbed on positive outlook. Inditex net slipped 2% to

[R]4:00 PM Frankfurt – DS Smith climbed on positive outlook. Inditex net slipped 2% to €928 million but sales jumped 6%. JD Sports profit climbed 154% and revenue surged 27% to £722 million. Smiths Group profit plunged 26% to £235 million but sales declined 5% to £2.9 billion.[/R]

In London trading, FTSE 100 index slid 0.1% or 9.83 to 6,782.41 and in Frankfurt the DAX index jumped 0.4% or 40.64 to 9,673.57.

In Paris, CAC 40 index climbed 0.6% or 26.70 to 4,435.85.

DS Smith Plc climbed 5.3% to 287.50 pence after the U.K.-based recycled packaging company lifted outlook for the remaining year and said in a statement sales in corrugated box volumes continue to grow.

Inditex SA slumped 2.2% to €22.78 after the Spain-based apparel, footwear and fashion accessory retailer reported net sales in the first-half ending in July jumped 5.5% to €8.08 billion from €7.66 billion a year ago period.

Profit in the period slipped 2.4% from a year earlier to €928 million compared to €951 million.

JD Sports Fashion Plc soared 6.5% to 434.50 pence after the U.K.-based branded sportswear, fashion-wear retailer said revenue in the first-half ending on August 2 surged 27% to £721.5 million from £567.4 million a year ago period.

Profit in the period climbed 154.2% from a year ago to £12.6 million compared to £6.5 million and diluted earnings per share jumped to 6.48 pence from 2.55 pence.

Smiths Group Plc declined 5.8% to 1,271 pence after the U.K.-based industrial conglomerates reported revenue in the year ending in July dropped 5% to £2.95 billion from £3.11 billion a year ago period.

Profit in the year plunged 25.9% from a year ago to £234.7 million compared to £316.6 million and diluted earnings per share slipped to 58.4 pence from 79.3 pence.