Barclays, Bayer, LVMH, Sky Net Surge

Nigel Thomas
29 Jul, 2015
New York City

Barclays profit surged 31% to

[R]4:00 PM Frankfurt – Barclays profit surged 31% to £2.1 billion. Bayer net increased 3% to €2.46 billion on revenues increase of 16.5%. LVMH profit jumped 5% to €1.6 billion. Sky net soared 125% to £1.9 billion.[/R]

In London trading, FTSE 100 index increased 49.70 or 0.8% to 6,604.94 and in Frankfurt the DAX index gained 24.25 or 0.2% to 11,199.59.

In Paris, CAC 40 index rose 14.59 or 0.3% to 4,992.15.

Barclays Plc jumped 2% to 285.30 pence after the U.K.-based financial services provider reported total revenues in the first-half ending in June increased 3.8% to £14.14 billion from £13.62 billion in a year ago period.

Net profit in the period surged 31% from a year ago to £2.11 billion compared to £1.61 billion and diluted earnings per share increased to 9.7 pence from 7 pence.

The lender said total adjusted operating expenses declined 7% to £8.26 million and pre-tax profit in the period climbed 25% to £3.11 billion form £2.50 billion in a year ago period.

Bayer AG soared 4.4% to 135.65 after the Germany-based health care products maker said sales in the first-half ending in June climbed 16.5% to €23.97 billion or $20.58 billion in a year ago period.

Net profit in the quarter increased 3.3% from a year ago to €2.46 billion compared to €2.38 billion and diluted earnings per share gained to €2.97 from €2.87.

Revenues in healthcare segment surged 27% to €11.41 billion and revenues in Bayer CropScience business climbed 8.3% to €5.82 billion and revenues in Bayer’s MeterialScience segment jumped 9.4% to €6.20 billion.

As of June 30, net financial debt declined to €21.1 billion, slightly below from €21.3 billion in previous quarter ending in March.

British Land Company Plc gained 0.4% to 832.50 pence after the U.K.-based real estate developer signed exchanged contracts to sell 39 Victoria Street, a 10-floor office building to the Singapore-based Ho Bee Land for about £144 million.

LVMH Moet Hennessy Louis Vuitton SE gained 2% to €169.20 after the France-based luxury goods retailer reported revenues in the first-half ending in June soared 19.3% to €16.71 billion or $14 billion in a year ago period.

Net profit in the quarter jumped 4.6% from a year ago to €1.58 billion compared to €1.51 billion and diluted earnings per share increased to €3.13 from €3.

J Sainsbury rose 0.5% to 260.52 pence after the U.K.-based supermarkets and convenience stores operator formed a pharmacy partnership with Germany-based healthcare logistics services provider Celesio AG the owner of Lloyds Pharmacy Ltd to acquire Sainsbury’s pharmacy business for £125 million.

The transaction is expected to close by end of February 2016.

Sky Plc fell 0.7% to 1,117 pence after the U.K.-based pay-television operator said revenues in the year ending in June surged 34% to £9.99 billion from £7.45 billion in a year ago period.

Net profit in the period soared 125.4% from a year ago to £1.95 billion compared to £865 million and diluted earnings per share jumped to 114.4 pence from 54.9 pence.

Sky added operating profit before exceptional items climbed 18% to £1.4 billion and revenue jumped 5% to £11.3 billion.

The broadband and telephony services provider added new customer in the year to 973,000, an increase of 45%. In the fourth quarter, Sky added 158,000 new customers.

The number of products used in the quarter by existing customers including broadband and high-definition TV jumped by 829,000.