Royal Mail Net Tumbles 90%, Intertek Plunges on Weak Outlook

Nigel Thomas
19 Nov, 2014
New York City

Arkema launched a rights issue to rise

[R]4:00 PM Frankfurt – Arkema launched a rights issue to rise €350 million. ICAP profit soared 13% to £30 million while revenues declined 15%. Intertek plunged 7% after weak outlook. Royal Mail net tumbled 90% to £125 million on flat revenues. Soitec net loss narrowed to €83 million on 17% increase in revenues.[/R]

In London trading, FTSE 100 index slid 0.09% or 6.01 to 6,703.12 and in Frankfurt the DAX index rose 0.4% or 42.01 to 9,498.54.

In Paris, CAC 40 index gained 0.5% or 19.87 to 4,282.25.

Arkema SA slipped 1.2% to €53.80 after the France-based chemical products maker launched a rights issue to raise around €350 million to refinance the French chemicals group''s acquisition of adhesives company Bostik for €1.7 billion.

ICAP Plc plunged 8.7% to 392 pence after the U.K.-based brokerage company reported revenues in the first-half ending in September declined 15% to £620 million from £726 million a year ago period.

Net profit in the year soared 13.1% from a year ago to £30 million compared to £19 million and diluted earnings per share jumped to 4.4 pence from 2.9 pence.

Intertek Group Plc declined 7.2% to 2,463 pence after the U.K.-based quality and safety solution provider said revenues growth of 2.5% at constant currency but declined 5.1% at actual exchange rates.

The company revised its full-year organic revenue guidance growth for the year to similar to 0.7% decreased in third-quarter.

Separately, today the company agreed to acquire 50% stake in Sweden-based DNA and protein maker ScanBi Diagnostics.

Royal Mail Plc plummeted 7.9% to 432.30 pence after the U.K.-based postal and delivery service provider reported revenue in the first-half ending on September 28 nearly flat at £4.53 billion from £4.52 billion a year ago period.

Net profit in the year tumbled 89.7% from a year ago to £125 million compared to £1.22 billion and diluted earnings per share jumped to 12.5 pence from 122 pence.

Soitec SA jumped 2.5% to €2.03 after the France-based silicon wafer maker reported group sales in the first-half ending in September surged 16.5% to €106 million from €91 million a year ago period.

Net loss in the period narrowed from a year ago to €82.9 million compared to €160 million and loss per share declined to €0.43 from €1.06.