Dixons Loss Widens, Evraz Suspend Public Offerings

Nigel Thomas
17 Dec, 2014
New York City

Dixons Carphone net loss widened despite revenues surged nearly three-fold. Evraz delayed initial public offering of its North American unit.

[R]4:00 PM Frankfurt – Dixons Carphone net loss widened despite revenues surged nearly three-fold. Evraz delayed initial public offering of its North American unit.[/R]

In London trading, FTSE 100 index edged up 0.07% or 4.65 to 6,336.48 and in Frankfurt the DAX index fell 0.2% or 19.46 to 9,544.43.

In Paris, CAC 40 index gained 0.5% or 18.71 to 4,111.91.

Dixons Carphone Plc climbed 4.1% to 444.21 pence after the U.K.-based electronics retailer and service provider said revenues in the thirty-one week period ending on November 1 surged 287.5% to £3.34 billion from £862 million a year ago period.

Net loss in the period widened from a year ago to £38 million compared to £28 million and diluted loss per share dropped to 4.7 pence from 5.2 pence.

The company said the sale of Virgin Mobile France yielded with net cash proceeds of £104 million was completed on December 4.

Evraz Plc closed unchanged at 129.10 pence after the U.K.-based steel, mining and vanadium company delayed an initial public offering for its North American unit Evraz North America Ltd.

The offering was scheduled for mid-December to raise as much as $500 million.

Tribal Group Plc closed unchanged at 148 pence after the U.K.-based educational service provider signed two contracts for the delivery of its student management systems in Australia and Canada worth more than $19 million for an initial period of 5-year.

Vmoto Limited jumped 6.2% to 2.23 pence after the U.K.-based scooters and terrain electric vehicle maker entered in to a joint venture with China-based unnamed company.

The company plans to make electric vehicles for the Chinese market and estimates initial investment of up to US$1.5 million.

The first year production is estimated between 20,000 and 50,000 units.