ARM, GKN, Whitbread Profit Rise; ASOS Soars on Sales Surge

Nigel Thomas
21 Oct, 2014
New York City

ASOS yearly profit declined 11% to

[R]4:00 PM Frankfurt – ASOS yearly profit declined 11% to £37 million but revenue surged 27%. ARM Holdings soared 34% on 12% increase in revenues. GKN third-quarter net jumped 6% to £139 million. Whitbread first-half profit climbed 7% to £189 million.[/R]

In London trading, FTSE 100 index increased 1.2% or 74.14 to 6,341.21 and in Frankfurt the DAX index climbed 1.6% or 138.02 to 8,855.78.

In Paris, CAC 40 index jumped 1.9% or 77 to 4,068.24.

ASOS Plc surged 14.9% to 2,233 pence after the U.K.-based online fashion-products retailer reported group revenue in the year ending in August soared 27% to £975.5 million from £769.4 million a year ago period.

Profit in the year plunged 11% from a year ago period to £36.6 million compared to £40.9 million and diluted earnings per share dropped to 44.5 pence from 49.2 pence.

ARM Holdings Plc declined 5.6% to 804 pence after the U.K.-based microprocessor maker said revenue in the third-quarter ending in September climbed 12% to $320.2 million from $286.7 million a year ago period.

Net income in the quarter soared 33.6% from a year ago period to $64.8 million compared to $48.5 million and diluted earnings per share jumped to 4.6 pence from 3.4 pence.

GKN Plc jumped 2.9% to 310.90 pence after the U.K.-based automobile parts maker reported sales in the third-quarter ending in September dropped 3.7% to £1.80 billion from £1.87 billion a year ago period.

Profit-before-tax in the quarter climbed 6.1% from a year ago period to £139 million compared to £131 million.

Whitbread Plc slipped 1% to 4,188 pence after the U.K.-based hotel and restaurant operator said total revenue in the first-half ending in August jumped 13% to £1.29 billion from £1.14 billion a year ago period.

Profit in the period climbed 7.2% from a year ago period to £188.6 million compared to £175.9 million and diluted earnings per share increased to 104.39 pence from 98.23 pence.

William Hill Plc rose 0.1% to 363.90 pence after the U.K.-based gambling company stated group net revenue in the third-quarter ending in September surged 23% and mobile gaming revenue soared 116%.

Operating profit in the quarter climbed 89% and online operating profit jumped 126%.