Next Lifts Outlook, Nanoco in Deal with Dow Chemical

Nigel Thomas
30 Dec, 2014
New York City

Empyrean Energy profit surged on 32% increase in revenues. Next forecasted profits for the year to increase 1% to

[R]4:00 PM Frankfurt – Empyrean Energy profit surged on 32% increase in revenues. Next forecasted profits for the year to increase 1% to £775 million as full-price sales jumped 3%. Nanoco signed a manufacturing contract with Dow Chemical. Progility acquired a unit of India-based Unify Group.[/R]

In London trading, FTSE 100 index declined 1.4% or 90.21 to 6,543.30 and in Frankfurt the DAX index slumped 1.2% or 121.58 to 9,805.55.

In Paris, CAC 40 index dropped 1.2% or 53.07 to 4,264.86.

Empyrean Energy Plc declined 4.5% to 7.76 pence after the U.K.-based oil and gas explorer said revenues in the first-half ending in September soared 32% to $7.91 million from $6 million a year ago period.

Net profit in the period surged 86% from a year ago to $2.71 million compared to $1.45 million and diluted earnings per share jumped to 93 cents from 66 cents.

Next Plc climbed 3.6% to 6,750 pence after the U.K.-based apparel and accessories retailer forecasted profits for the year to increase 1% to £775 million, £5 million ahead of profit guidance issued in October.

As of December 24, full-price sales were jumped 2.9% and total sales for the year to December 24 are ahead of 7.7%.

The retailer estimated sales growth for fiscal 2015 between 2.5% and 7.5% compared to fiscal 2014 in the range of 6% to 8%.

The company said profit for the fiscal year ending in January 2016 estimated to jump 2.5% to £795 million.

Next now plans to pay a special dividend of 50 pence per share on February 2.

Nanoco Group Plc jumped 2.9% to 139 pence after the U.K.-based signed a manufacturing contract with the U.S.-based The Dow Chemical Company ahead of mass production for the first-half of 2015, including pricing and payment terms associated with materials supplied to Dow Chemical.

Progility Plc plunged 6.7% to 7.35 pence after the U.K.-based management service provider completed the acquisition of India-based Unify Enterprise Communications Pvt. Ltd from the Unify Group, the unified communications joint venture between Siemens AG and US private equity firm The Gores Group.