Gemalto Net Surges on Flat Revenues, Vivendi Profit Plunges 54%

Sarla Buch
26 Aug, 2016
New York City

Gemalto profit surged on flat revenues. The Restaurant Group net swung to a loss and plans to sell or close 33 underperforming sites and impair the asset value of a further 29 sites. Segro agreed to sell Heston & Airlinks Indl Estate for

[R]4:00 PM Frankfurt – Gemalto profit surged on flat revenues. The Restaurant Group net swung to a loss and plans to sell or close 33 underperforming sites and impair the asset value of a further 29 sites. Segro agreed to sell Heston & Airlinks Indl Estate for £79.5 million. Vivendi profit plunged 54%.[/R]

Market indexes in the euro zone trimmed weekly losses as investors focused on additional batch corporate earnings.

In London trading, FTSE 100 index jumped 27.29 or 0.4% to 6,845.33 and in Frankfurt the DAX index gained 46.71 0.4% to 10,575.28.

In Paris, CAC 40 index advanced 38.60 or 0.9% to 4,445.21.

For the week, FTSE 100 index fell 0.2%, the DAX index rose 0.3% and the CAC 40 index increased 1%.

Gemalto NV dropped 2.4% to €16.21 after the Netherlands-based and digital security services provider said revenues in the first-half ending in June were flat from a year ago to €1.5 billion.

Net income in the period surged from a year ago to €58.5 million compared to the €13.2 million and diluted earnings per share jumped to €0.65 from €0.15.

The Restaurant Group Plc jumped 3.1% to 420 pence after the U.K.-based restaurants and pubs operator reported revenues in the first-half ending on July 3 advanced 3.4% from a year ago to £358.7 million.

Comparable restaurants sales in the period declined 3.9%.

Net loss in the period swung to a loss from a year ago to £22.4 million compared to the profit of £28.7 million and diluted loss per share swung to 11.15 pence from diluted earnings per share of 14.25 pence.

The restaurants and pubs operator said exceptional charge of £59.1 million reflected prospective site closures and 29 site asset value impairments and 33 underperforming sites identified for closure/sale.

However, the Restaurant Group forecasted operating pre-tax profit in the full-year between £74 million and £80 million.

Segro Plc fell 0.3% to 444.60 pence after the U.K.-based warehouse and industrial buildings developer agreed to sell its multi-let Heston & Airlinks Industrial Estate, near north-east of Heathrow Airport to Capital Industrial for about £79.5 million.

The transaction is expected by the end of September.

Vivendi SA slipped 1.7% to €17.28 after the France-based media and pay-television services provider reported revenues in the first-half ending in June fell 1% from a year ago to €5.04 billion.

Net income in the period plunged 54.2% from a year ago to €911 million compared to the €1.99 billion and diluted earnings per share slumped to €0.71 from €1.46.

Vivendi plans to cost reduction of about €300 million or $338.58 million from its domestic pay-TV unit Canal Plus and to reach breakeven in 2018.