Airbus, BASF, IAG Profit Climb; Lloyds Net Swings to Profit

Nigel Thomas
27 Feb, 2015
New York City

Airbus profit soared 59% to

[R]4:00 PM Frankfurt – Airbus profit soared 59% to €2.3 billion on 5% increase in revenues. BASF net surged 26% to €1.4 billion. IAG net soared 452% to €309 million. Lloyds Banking net swung to profit to £1.5 billion. Old Mutual net tumbled 13% to £852 million on 22% decline in revenues. Spectris net plummeted.[/R]

In London trading, FTSE 100 index edged up 4.44 to 6,954.17 and in Frankfurt the DAX index rose 0.1% or 10.05 to 11,338.23.

In Paris, CAC 40 index gained 0.3% or 13.26 to 4,923.88.

Airbus Group NV surged 7.5% to €55.47 after the France-based aerospace and defense group reported revenues in the year ending in December jump 5% to €60.71 billion from €57.57 billion a year ago period.

Net income in the year soared 59% from a year ago to €2.34 billion compared to €1.47 billion and diluted earnings per share climbed to €2.99 from €1.86.

The aerospace and defense group forecasted earnings per share, dividend per share and revenues to increase in 2015. Airbus estimated slight increase in EBIT before one-off in fiscal 2015.

BASF SE dropped 2.1% to €85.16 after the Germany-based chemicals maker said revenues in the fourth-quarter ending in December slid 0.6% to €18.05 billion from €18.42 billion a year ago period.

Net income in the year surged 25.7% from a year ago to €1.42 billion compared to €1.13 billion and diluted earnings per share jumped to €1.54 from €1.23.

International Consolidated Airlines Group, S.A jumped 2.4% to 573.08 pence after the Spain-based airline company stated revenues in the fourth-quarter ending in December climbed 9.9% to €5.02 billion from €4.46 billion a year ago period.

Net income in the year soared 452% from a year ago to €309 million compared to €70 million and diluted earnings per share jumped to €1.54 from €1.23.

IAG forecasted operating profit for the fiscal 2015 in excess of €2.2 billion and total fuel costs of about €5.9 billion.

Lloyds Banking Group Plc rose 1.1% to 79.36 pence after the U.K.-based financial service provider reported interest income in the year ending in December declined 9.2% to £19.21 billion from £21.16 billion a year ago period.

Net in the year swung to profit from a year ago to £1.50 billion compared to a loss of £802 million and diluted earnings per share swung to 1.6 pence from a diluted loss per share of 1.2 pence.

Old Mutual Plc gained 1.2% to 225.90 pence after the U.K.-based investment, insurance and banking company stated revenues in the year ending in December plunged 21.9% to £15.48 billion from £19.81 billion a year ago period.

Net profit in the year tumbled 13.3% from a year ago to £852 million compared to £983 million and diluted earnings per share slumped to 11.5 pence from 13.9 pence.

The company said funds under management in the year climbed 6% to £319.4 billion and declared final dividend for the year of 6.25p per share, 4% higher than a year ago period.

Spectris Plc slipped 1.6% to 2,169 pence after the U.K.-based testing and control equipment maker said sales in the year ending in December fell 2% to £1.17 billion from £1.20 billion a year ago period.

Net profit in the year plummeted 32.5% from a year ago to £135.1 million compared to £200 million and diluted earnings per share dropped to 113.4 pence from 168.5 pence.