Eurotunnel, Smiths Group, Inditex Net Soar; Phoenix Net Tumbles

Nigel Thomas
18 Mar, 2015
New York City

Bilfinger net swung to a loss of

[R]4:00 PM Frankfurt – Bilfinger net swung to a loss of €71 million. Eurotunnel profit tumbled 49% to €57 million but revenues climbed 7%.Inditex net jumped 5% to €2.5 billion. Phoenix surged 96% to £406 million. Smiths Group net fell 8% and secured $125 million detection equipment from Abu Dhabi Airport.[/R]

In London trading, FTSE 100 index climbed 1.1% or 79.07 to 6,916.68 and in Frankfurt the DAX index fell 0.3% or 31.23 to 11,949.62.

In Paris, CAC 40 index edged up 0.03% or 1.44 to 5,030.37.

Bilfinger SE rose 0.7% to €52.20 after the Germany-based engineering services provider said revenues in the year ending in December jumped 1.8% to €7.70 billion from €7.56 billion a year ago period.

Net in the year swung to a loss to €71.4 million compared to €172.8 million a year ago and swung to a loss of €1.62 per share from earnings per share of €3.91.

The company proposed annual €2 per share dividend.

Groupe Eurotunnel SE slipped 0.9% to €12.20 after the France-based tunnel and toll road operator reported revenues in the year ending in December climbed 7% to €1.21 billion from €1.12 billion a year ago period.

Net profit in the year tumbled 48.6% from a year ago to €57 million compared to €111 million and diluted loss per share swung to a €1.62 from diluted earnings per share of €3.91.

The toll road operator said operating profit in the year soared by 11% to €334 million and EBITDA jumped 7% to €498 million.

The company forecasted fiscal 2015 EBITDA growth of about €535 million and for the fiscal 2016 of about €580 million.

Inditex SA climbed 3.4% to €29.13 after the Spain-based textile industry reported net sales in the year ending in January soared 8% to €18.12 billion from €16.72 billion a year ago period.

Same-store sales in the year climbed 5%.

Net profit in the year jumped 5% from a year ago to €2.50 billion compared to €2.38 billion and diluted loss per share swung to a €1.62 from diluted earnings per share of €3.91.

The company said store sales in six weeks to March 14 surged 13%.

The textile retailer also announced free delivery in Spain for its Zara brand for online orders above €30 from April.

Phoenix Group Holdings gained 1.6% to 872 pence after the U.K.-based life insurance company stated total revenues in the year ending in December soared 26% to £5.32 billion from £4.22 billion a year ago period.

Net profit in the year surged 96.1% from a year ago to £406 million compared to £207 million and diluted earnings per share climbed to 137.5 pence from 68.1 pence.

Smiths Group Plc increased 1.4% to 1,195 pence after the U.K.-based industrial conglomerate said revenues in the first-half ending in January dropped 2% to £1.42 billion from £1.44 billion a year ago period.

Profit in the year declined 8.4% from a year ago to £87 million compared to £95 million and diluted earnings per share slipped to 21.6 pence from 23.6 pence.

The company said yesterday its subsidiary Smiths Detection secured contract worth $125 million from Abu Dhabi Airport to provide range of advanced detection equipments for its new terminal.