Deutsche Boerse, Kering, Philips, Orange Net Soar; BP Net swings to Loss

Nigel Thomas
28 Jul, 2015
New York City

BP net swung to a loss to $5.8 billion on non-operating pre-tax charge of $9.8 billion. Deutsche Boerse profit climbed 10%. Kering net more than doubled to

[R]4:00 PM Frankfurt – BP net swung to a loss to $5.8 billion on non-operating pre-tax charge of $9.8 billion. Deutsche Boerse profit climbed 10%. Kering net more than doubled to €423 million. Philips net climbed 12%. Orange profit surged 89% to €1.1 billion.[/R]

In London trading, FTSE 100 index rose 21.91 or 0.4% to 6,527.04 and in Frankfurt the DAX index rose 34.88 or 0.2% to 11,475.47.

In Paris, CAC 40 index increased 27.40 or 0.6% to 4,955.18.

BP Plc increased 1.7% to 393.77 pence after the U.K.-based oil and gas explorer reported total revenues in the second-quarter ending in June declined 35.5% to $61.80 billion from $95.83 billion in a year ago period.

Net in the quarter swung to a loss from a year ago to $5.78 billion compared to profit of $3.43 billion and diluted loss per share to 31.83 cents from diluted earnings per share of 18.15 cents.

BP reported replacement cost loss in the quarter of $6.3 billion and Deepwater Horizon oil spill, an additional non-operating pre-tax charge of $9.8 billion was included in the result for the second-quarter.

Deutsche Boerse AG gained 1.6% to €82.97 after Germany-based stock exchange operator reported total revenues in the second-quarter ending in June soared 19% to €583.1 million or $491.2 million in a year ago period.

Net profit in the quarter climbed 9.9% from a year ago to €175.1 million compared to €159.3 million and diluted earnings per share increased to €0.95 from €0.87.

The stock exchange operator forecasted revenues for the fiscal 2018 in the range of €2.8 billion to €3.2 billion and operating profit to increase between 10% and 15% or in the range of €1.55 billion to €1.75 billion.

Gerresheimer AG surged 13.6% to €63.66 after the Germany-based injectable drugs maker signed an agreement with Luxembourg-based Nemera Development S.A. to acquire Centor US Holding Inc. for $725 million in cash-free and debt-free basis.

Kering SA soared 6.2% to €173.60 after the France-based luxury goods retailer said revenues in the first-half ending in June surged 17% to €5.51 billion or $4.71 billion in a year ago period.

Net profit in the quarter soared 123.3% from a year ago to €423.1 million compared to €184.5 million and diluted earnings per share climbed to €3.36 from €1.46.

The group''s gross margin in the first-half jumped 13.2% to €3,399 million form a year ago period.

The retailer said revenues in Gucci segment climbed 11.8% and Bottega Veneta posted first-half revenue soared 19.7% while Yves Saint Laurent again posted strong first-half revenue growth of 38.2%.

Koninklijke Philips NV ((PHG)) jumped 3.3% or 87 cents to $27.18 after the Netherlands-based medical equipment maker said revenues in the second-quarter ending in June soared 20% to €5.97 billion from €4.97 billion in a year ago period.

Comparable sales in the quarter jumped 3% after improved sales in North America, Central and Eastern Europe and India.

Net profit in the quarter climbed 12.4% form a year ago to €272 million compared to €242 million and diluted earnings per share increased to €0.30 from €0.26.

The company said sales in its healthcare segment surged 29% to €2.75 billion and comparable sales climbed 8% and revenues in consumer lifestyle business soared 16% to €1.25 billion and comparable sales increased 3%.

The Philips added revenues in lighting business jumped 14% to €1.84 billion while comparable sales declined 3%.

Orange SA increased 0.8% to €15.07 after France-based telecom operator said revenues in first-half ending in June edged down 0.2% to €19.56 billion from €19.59 billion in a year ago period.

Net profit in the period surged 89.3% form a year ago to €1.10 billion compared to €581 million and diluted earnings per share jumped to €0.39 from €0.21.

Orange said the number of mobile services customers in the period climbed 6.9% to 189.8 million while customers in Africa and the Middle East climbed 12.4% to 102 million.

The mobile company forecasted operating profit for the year in the range of €11.9 billion from €12.1 billion excluding Jazztel and Méditel business.