BioMerieux, Iliad, Steinhoff Profit Jump; Bouygues Net Loss Narrows

Sarla Buch
31 Aug, 2016
New York City

Bouygues net loss narrowed after telecom business jumped 6%. BioMerieux profit surged 45% and lifted operating profit forecast. Commerzbank and Deutsche Bank are reportedly exploring a possible merger. Iliad net soared 17% on 7% jump in revenues. Steinhoff said fiscal revenues and profit surged.

[R]4:00 PM Frankfurt – Bouygues net loss narrowed after telecom business jumped 6%. BioMerieux profit surged 45% and lifted operating profit forecast. Commerzbank and Deutsche Bank are reportedly exploring a possible merger. Iliad net soared 17% on 7% jump in revenues. Steinhoff said fiscal revenues and profit surged.[/R]

In London trading, FTSE 100 index slumped 39.28 or 0.6% to 6,781.51 and in Frankfurt the DAX index decreased 64.95 or 0.6% to 10,592.69.

In Paris, CAC 40 index slipped 19.27 or 0.4% to 4,438.22.

For the month, FTSE 100 index increased 0.9%, the DAX index jumped 2.5% while the CAC 40 index edged down 0.04%.

Bouygues SA gained 1.7% to €28.60 after the France-based industrial conglomerate reported sales in the first-half ending in June dropped 3% from a year ago to €14.7 billion.

Net loss in the period narrowed from a year ago to €28 million compared to the €42 million and diluted loss per share slipped to €0.08 from €0.12.

However, Bouygues said sales in telecom business jumped 6% to €2.29 billion but sales in construction segment declined 5% to €11.38 billion and the order book fell 1% compared to the same period a year ago.

BioMerieux SA soared 8.7% to €136.90 after the France-based in-vitro diagnostics equipment maker said sales in the first-half ending in June jumped 7.2% from a year ago to €1 billion.

Net income in the period surged 44.8% from a year ago to €86 million compared to €59 million and diluted earnings per share advanced to €2.17 from €1.51.

Biotechnology group lifted operating profit forecast in the year between €265 million and €290 million, higher than the initially forecasted.

Commerzbank AG advanced 3.4% to €6.30 on a report in Manager Magazin that the Germany-based financial services provider and Deutsche Bank AG are exploring a possible merger.

Deutsche Bank chief executive officer John Cryan said that the merger isn''t only the alternate but “looking to become smaller and simpler.”

Iliad SA jumped 4.7% to €185.75 after the France-based telecommunication services provider reported revenues in the first-half ending in June advanced 6.3% from a year ago to €2.3 billion.

Net income in the period soared 16.9% from a year ago to €190.4 million compared to the €162.9 million and diluted earnings per share increased to €3.16 from €2.72.

Steinhoff International Holdings NV plunged 7.5% to €5.39 after the South Africa-based integrated furniture retailer said revenues in the year ending in June surged 33% from a year ago to €13.1 billion and operating profit soared 32% to €1.47 billion.

Steinhoff is schedule to release its financial results for the year ending in June 2016 on September 7.