Swiss Life Net Rises, Air Berlin Swings to Net Loss

Nigel Thomas
14 Aug, 2015
New York City

Air Berlin net swung to a loss on 7% decline in revenues. Basilea Pharma net loss widened to 30.1 million francs while revenues soared 23%. IMCD profit soared to

[R]4:00 PM Frankfurt – Air Berlin net swung to a loss on 7% decline in revenues. Basilea Pharma net loss widened to 30.1 million francs while revenues soared 23%. IMCD profit soared to €32.4 million. Swiss Life net increased 1% to 490 million francs.[/R]

In London trading, FTSE 100 index slid 10.41 or 0.2% to 6,558.86 and in Frankfurt the DAX index fell 41.69 or 0.4% to 10,972.82.

In Paris, CAC 40 index slumped 31.06 or 0.6% to 4,954.24.

For the week, FTSE 100 index dropped 2.4% and the DAX index plunged 4.5% and the CAC 40 index declined 3.9%.

Air Berlin Plc rose 0.6% to €1.12 after the Germany-based discount airline reported revenues in the second-quarter ending in June declined 6.6% to €1.07 billion from €1.15 billion in a year ago period.

Net loss in the quarter swung to loss of €43.53 million compared to profit of €7.71 million in the year ago period and diluted loss per share swung to €0.37 from diluted earnings per share of €0.03.

Basilea Pharmaceutica AG gained 1.8% to 106 Swiss francs after he Switzerland-based pharmaceutical research company said sales in the first-half period ending in June jumped 23.4% to 24.99 million francs from 20.25 million francs in a year ago period.

Net loss in the period widened from a year ago to 30.1 million francs compared to 19.4 million francs and diluted loss per share rose to 3 franc from 1.97 franc.

IMCD Group BV increased 1.7% to €32.63 after the Netherlands-based chemicals and food ingredients maker reported revenues in the first-half ending in June jumped 4% to €728.9 million from €702.4 million in a year ago period.

Net profit in the quarter soared from a year ago to €32.35 million compared to €1.86 million and diluted earnings per share increased to €0.64 from €0.56.

The company said as of June 30, free cash flow soared to €42.9 million compared to €29.4 million and net debt increased to €433.4 million from €257.8 million in the same period a year ago.

Swiss Life Holding AG jumped 2% to 238.40 Swiss francs after he Switzerland-based life insurance and pension services provider reported total revenues in the first-half period ending in June soared 5% to 12.19 billion francs from 11.62 billion francs in a year ago period.

Profit in the period increased 1% from a year ago to 490 million francs compared to 484 million francs and diluted earnings per share fell to 1.43 franc from 1.45 franc.