Aviva, Hikma Pharma, Hannover, Inmarsat, Siemens, Societe BIC Net Decline

Sarla Buch
04 Aug, 2016
New York City

Aviva profit tumbled 63% but revenues soared. Hikma Pharmaceuticals plunged after weak revenues forecast. Hannover profit declined 9%. Inmarsat net declined 7%. Siemens net dropped 2% but revenues jumped 5%. Societe BIC net plunged 21%.

[R]4:00 PM Frankfurt – Aviva profit tumbled 63% but revenues soared. Hikma Pharmaceuticals plunged after weak revenues forecast. Hannover profit declined 9%. Inmarsat net declined 7%. Siemens net dropped 2% but revenues jumped 5%. Societe BIC net plunged 21%.[/R]

In London trading, FTSE 100 index jumped 110.60 or 1.7% to 6,744.90 and in Frankfurt the DAX index increased 48.54 or 0.5% to 10,218.22.

In Paris, CAC 40 index advanced 21.52 or 0.5% to 4,341.87.

Aviva Plc surged 7.6% to 414.10 pence after the U.K.-based general and health insurance provider said total revenues in the first-half ending in June soared 143.1% from a year ago to £27.4 billion.

Net income in the period tumbled 63.1% from a year ago to £201 million compared to the £545 million and diluted earnings per share dropped 2.4 pence from 12.7 pence.

Hikma Pharmaceuticals Plc plunged 16.6% to 2,225.09 pence after the U.K.-based generic pharmaceutical products maker forecasted group revenue in the full-year between $2 billion and $2.1 billion and revenues in West-Ward Columbus segment to increase between $700 million and $750 million.

In the full-year, Hikma lowered revenue estimate in the combined generics business between $640 million and $670 million, mainly due to delay in certain new product approvals.

Hannover Rueck SE declined 4.3% to €87.22 after the Germany-based reinsurance services provider reported total revenues in the first-half ending in June increased 2.1% from a year ago to €7.2 billion.

Net income in the period slumped 8.6% from a year ago to €486.1 million compared to the €531.9 million and diluted earnings per share decreased to €4.03 per share from €4.41.

Inmarsat Plc soared 6.9% to pence after the U.K.-based mobile satellite communications services provider said total revenues in the first-half ending in June rose 2% from a year ago to $629 million.

Net income in the period declined 7.1% from a year ago to $122.1 million compared to the $131.4 million and diluted earnings per share fell 27 cents from 29 cents.

Siemens AG jumped 5.1% to €101.61 after the Germany-based industrial conglomerate reported revenues in the third-quarter ending in June advanced 5% from a year ago to €19.8 billion.

Net income in the period dropped 2.2% from a year ago to €1.33 billion compared to the €1.36 billion and diluted earnings per share slid to €1.62 per share from €1.63.

Siemens lifted earnings per share forecast in fiscal 2016 in the range of €6.50 to €6.70 from the earlier estimated range of €6 to €6.40.

Societe BIC SA soared 4.4% to €135.40 after the France-based lighters and shavers maker said net sales in the first-half ending in June edged down 0.1% from a year ago to €1.13 billion.

Net income in the period plunged 20.6% from a year ago to €140.1 million compared to the €176.6 million and diluted earnings per share fell to €2.98 per share from €3.74.