Go-Ahead Profit Surges 37%, Rocket Internet Net Loss Widens

Sarla Buch
02 Sep, 2016
New York City

Go-Ahead net surged 37% on 5% increase in revenues. Rocket Internet said net loss in the first-half widened to

[R]4:00 PM Frankfurt – Go-Ahead net surged 37% on 5% increase in revenues. Rocket Internet said net loss in the first-half widened to €617 million on the rising losses in start losses. Segro plans to raise £340 million through a secondary offering.[/R]

In London trading, FTSE 100 index soared 165.27 or 2.5% to 6,911.58 and in Frankfurt the DAX index increased 134.36 or 1.3% to 10,667.25.

In Paris, CAC 40 index jumped 90.49 or 2% to 4,530.16.

For the week, FTSE 100 index gained 0.6%, the DAX index rose 0.8% and the CAC 40 index advanced 2%.

Go-Ahead Group Plc surged 11.8% to 2,233 pence after the U.K.-based public transport operator said revenues in the year ending on July 2 jumped 4.5% from a year ago to £3.4 billion.

Net profit in the period soared 37.1% from a year ago to £81.3 million compared to the £59.3 million and diluted earnings per share rose to 161.4 pence from 119.5 pence.

Rocket Internet SE plunged 10.2% to €17.27 after the Germany-based investment manager reported net loss in the first-half ending in June widened to €617 million compared to the €45.9 million a year ago period manly due to write-downs of its portfolio companies.

The losses and impairments were from its biggest start-ups and online retailer Global Fashion Group. On July 22, GFG contributed a loss of €383 million and wrote-off goodwill and intangible assets.

Segro Plc slumped 2% to 446 pence after the U.K.-based real estate developer plans to raise £340 million to fund development projects by placing 74.8 million of new shares.

Segro said it contracted £9.9 million of new rent since 30 June 2016, including £2.8 million of existing space and the company added it sees positive leasing trend the first half of 2016.