Adidas Net Soars 11%; Deutsche Telekom Net Slips, T Mobile Lifts Outlook

Nigel Thomas
06 Aug, 2015
New York City

adidas said profit soared 11% and the athletic shoe maker completed the acquisition Runtastic. Aviva net tumbled 37%. Deutsche Telekom profit plummeted 41% to

[R]4:00 PM Frankfurt – adidas said profit soared 11% and the athletic shoe maker completed the acquisition Runtastic. Aviva net tumbled 37%. Deutsche Telekom profitplummeted 41% to €1.5 billion. Deutsche Post declined 15%. Metro net slid 1% to €158 million. Merck net jumped 13%.[/R]

In London trading, FTSE 100 index edged up 2.59 to 6,754.88 and in Frankfurt the DAX index fell 23.53 or 0.2% to 11,611.33.

In Paris, CAC 40 index rose 12.41 or 0.2% to 5,208.93.

adidas AG gained 0.7% to €75.04 after the Germany-based athletic and sports shoe maker reported total revenues in the first-half ending in June soared 16.1% to €7.99 billion or €6.88 billion in a year ago period.

Net profit in the period soared 10.5% from a year ago to €385 million compared to €348 million and diluted earnings per share jumped to €1.90 from €1.67.

The athletic and sports products maker said that it has completed the acquisition fitness tracking app maker Runtastic for about €70 million.

Aviva Plc gained 1.6% to 536.18 after the U.K.-based general and health insurance provider reported total revenues in the first-half ending in June declined 46.4% to £11.28 billion from £21.03 billion in a year ago period.

Profit in the period tumbled 36.8% from a year ago to £545 million compared to £863 million and diluted earnings per share slumped to 12.7 pence from 24.6 pence.

Deutsche Telekom AG slipped 1.7% to €16.98 after the Germany-based telecom company said total revenues in the first-half ending in June climbed 14.2% to €34.27 billion or €30.01 billion in a year ago period.

Net profit in the period plummeted 40.7% from a year ago to €1.50 billion compared to €2.53 billion and diluted earnings per share jumped to €0.33 from €0.57.

The company said T-Mobile U.S. lifted its forecast for new postpaid customers for the full-year to between 3.5 million and 3.9 million.

The T-Mobile is the third largest wireless carrier with a total number of subscribers reaching nearly 60 million.

Deutsche Post AG declined 3.3% to €16.98 after the Germany-based logistics services provider reported total revenues in the first-half ending in June jumped 8.1% to €29.47 billion or €27.26 billion in a year ago period.

Net profit in the period declined 14.7% from a year ago to €821 million compared to €963 million and diluted earnings per share slipped to €0.68 from €0.80.

As of June 30, the company said net debt doubled to €2.99 billion from €1.50 billion in the period ending in December 2014.

Metro AG soared 6.3% to Germany-based department store operator said sales in the nine-month ending in June fell 1.2% to €44.98 billion or €45.53 billion in a year ago period.

Net profit in the period slid 1.2% from a year ago to €158 million compared to €160 million and diluted earnings per share slipped to €0.38 from €0.36.

Separately, today the company agreed to acquire Singapore-based Classic Fine Foods Group, a leading Asian food service distributor for about $290 million plus an earn-out of up to $38 million.

Merck KGaA slid 0.2% to €95.19 after the Germany-based pharmaceutical company reported total revenues in the second-quarter ending in June climbed 14.4% to €3.22 billion or €2.82 billion in a year ago period.

Net profit in the period jumped 13.2% from a year ago to €343.4 million compared to €303.3 million and diluted earnings per share increased to €1.30 from €1.16.

Merck forecasted net sales for the year between €12.3 billion and €12.5 billion and earnings per share in the range of €4.60 to €4.80.