Thomas Cook Plunges 19%, Wolseley Net Soars 13%

Nigel Thomas
26 Nov, 2014
New York City

Daejan net climbed 50% to

[R]4:00 PM Frankfurt – Daejan net climbed 50% to £109 million. Londonmetric Property profit surged 58% to £70 million on 13% increase in revenues. Thomas Cook net loss narrowed to £115 million and chief executive stepped down. Wolseley net soared 14% to £233 million.[/R]

In London trading, FTSE 100 index decreased 0.07 to 6,731.21 and in Frankfurt the DAX index gained 0.5% or 52.44 to 9,913.65.

In Paris, CAC 40 index slid 0.05% or 2.35 to 4,379.96.

Daejan Holdings Plc gained 2.2% to 5,090 pence after the U.K.-based property developer said net rental income in the first-half ending in September soared 18.3% to £66.5 million from £56.2 million a year ago period.

Net profit in the year climbed 50% from a year ago to £109.4 million compared to £72.9 million and diluted earnings per share increased to £6.71 from £4.45.

Londonmetric Property Plc fell 0.4% to 149.70 pence after the U.K.-based real estate developer said net rental income in the first-half ending in September climbed 12.7% to £28.3 million from £25.1 million a year ago period.

Net profit in the year surged 58% from a year ago to £69.7 million compared to £44.1 million and diluted earnings per share jumped to 11.2 pence from 7 pence.

Thomas Cook Group Plc tumbled 18.8% to 111.91 pence after the U.K.-based traveling service provider reported revenues in the year ending in September declined 7.8% to £8.59 billion from £9.32 billion a year ago period.

Net loss in the year narrowed from a year ago to £115 million compared to £213 million and diluted loss per share dropped to 8.2 pence from 17.1 pence.

The company announced chief operating officer Peter Frankhauser will replace chief executive Harriet Green with immediate effect.

Wolseley Plc slipped 0.8% to 3,536 pence after the U.K.-based building material distributor said revenues in the first-quarter ending in October jumped 5.2% to £3.51 billion from £3.33 billion a year ago period.

Profit in the quarter soared 13.5% from a year ago to £233 million compared to £216 million.