Paragon Net Surges; Kingfisher Tumbles on Weak Revenues

Nigel Thomas
25 Nov, 2014
New York City

Caledonia Investments net jumped 170% to

[R]4:00 PM Frankfurt – Caledonia Investments net jumped 170% to £67 million. De La Rue net plunged 36% on 8% decrease in revenues and lowered profit outlook. Greencore profit declined 29% to £49 million. Paragon profit surged 15% to £97 million. Kingfisher profit declined 12% to £225 million.[/R]

In London trading, FTSE 100 index rose 0.2% or 17.15 to 6,746.94 and in Frankfurt the DAX index jumped 1.2% or 119.67 to 9,905.21.

In Paris, CAC 40 index increased 0.6% or 26.80 to 4,395.04.

Caledonia Investments Plc rose 0.2% to 2,294.90 pence after the U.K.-based investment trust company stated total revenues in the first-half ending in September surged 202.4% to £76.5 million from £25.3 million a year ago period.

Net profit in the year jumped 169.6% from a year ago to £66.6 million compared to £24.7 million and diluted earnings per share jumped to 119.3 pence from 44 pence.

De La Rue Plc fell 1.4% to 543 pence after the U.K.-based currencies and security documents printer reported revenues in the year ending on September 27 dropped 8% to £214.9 million from £234 million a year ago period.

Net profit in the year plunged 36% from a year ago to £14.2 million compared to £22.2 million and diluted earnings per share decreased to 13.4 pence from 21.7 pence.

The bank note printer forecasted underlying operating profit for the year of about £20 million, lower than the year ago period.

Greencore Group plc soared 7.6% to 280 pence after the U.K.-based frozen food maker said revenues in the year ending on September 26 climbed 6.4% to £1.27 billion from £1.20 billion a year ago period.

Net profit in the year declined 29.1% from a year ago to £48.6 million compared to £68.6 million and diluted earnings per share slipped to 11.8 pence from 17.1 pence.

Paragon Group of Companies Plc climbed 8% to 408 pence after the U.K.-based mortgage and consumer finance service provider said net interest income in the year ending in September soared 12.4% to £302.4 million from £269 million a year ago period.

Net profit in the year surged 14.7% from a year ago to £97.2 million compared to £84.7 million and diluted earnings per share increased to 31.1 pence from 27.3 pence.

Kingfisher Plc plunged 6.2% to 285.05 pence after the U.K.-based home improvement retailer reported revenues in the third-quarter ending in September dropped 3.6% to £2.82 billion and profit in the quarter declined 11.8% to £225 million from a year ago period.

Total sales in France plunged 9.3% to £1.06 billion while sales from UK and Ireland jumped 4.8% to £1.15 billion. Sales from other international regions slumped 7.4% to £604 million from a year ago period.