H&M Revenues Soars, Ryanair to Return Stake Sale Proceeds

Nigel Thomas
24 Sep, 2015
New York City

Hennes & Mauritz profit edged up but revenues soared 19%. Ryanair plans to return the

[R]4:00 PM Frankfurt – Hennes & Mauritz profit edged up but revenues soared 19%. Ryanair plans to return the €398 million to its shareholders from the sale of 29.8% stake in Aer Lingus by the end of this year. Havas is in talk to acquire FullSIX.[/R]

Markets in Europe extended weekly losses on the growing worries of global slowdown and the impact of widening Volkswagen scandal weighed on German stocks.

In London trading, FTSE 100 index dropped 71.74 or 1.2% to 5,963.15 and in Frankfurt the DAX index decreased 176.48 or 1.8% to 9,435.48.

In Paris, CAC 40 index slumped 72.81 or 1.6% to 4,359.88.

Havas SA slipped 1.4% to €7.07 after the France-based advertising and communications services provider is in talk to acquire FullSIX Group and Motion Equity Partners, an independent digital communications group.

The financial terms not disclosed and the transaction is expected to close during the month of October.

H & M Hennes & Mauritz AB declined 3.2% to SEK300.50 after the Sweden-based retailer reported net sales in the third-quarter ending in August soared 18.6% from a year ago to SEK46.02 billion.

Net profit in the quarter edged up 0.2% from a year ago to SEK5.31 billion compared to SEK5.30 billion and earnings per share rose to SEK3.21 from 3.20.

The company said sales including VAT in the period between September 1 and September 22 jumped by 12% compared to the same period last year.

Micro Focus International Plc gained 1.1% to 1,236 pence after the infrastructure software developer forecasted total revenue for the year ending April 2016 may drop between 2% and 4% compared to fiscal 2015.

Ryanair Holdings Plc slumped 3.1% to €13.35 after the Ireland-based low fare airline operator said it plans to return €398 million proceeds from the sale of 29.8% stake in its rival Aer Lingus Group Plc to its shareholders by the end of this year.

As of August, Ryanair has returned about €800 million to shareholders.

Ryanair lifted net profit forecast for the year to between €1.18 billion and €1.23 billion from the previous range between €940 million and €970 million.