Burberry Sale Jump 4%, Ryanair Lowers Outlook

Sarla Buch
18 Oct, 2016
New York City

Burberry said total revenues jumped 4% to

[R]4:00 PM Frankfurt – Burberry said total revenues jumped 4% to £1.2 billion. Bureau Veritas sales slumped 3% and verification services provider lowered 2016 operating margin forecast. Remy Cointreau first-half revenues advanced 2.5%. Kuehne und Nagel profit declined 5%. Ryanair lowered net profit forecast.[/R]

In London trading, FTSE 100 index jumped 54.32 or 0.8% to 7,001.87 and in Frankfurt the DAX index increased 124.13 or 1.2% to 10,628.48.

In Paris, CAC 40 index advanced 54.38 or 1.2% to 4,504.61.

Burberry Group Plc plunged 6.9% to 1,407 pence after the U.K.-based luxury goods wholesaler and retailer reported total revenues in the first-half ending in September jumped 4% from a year ago to £1.16 billion.

Comparable sales in the period were unchanged from a year ago period.

Burberry forecasted fiscal 2017 wholesale revenues of about £330 million and operating profit of about £105 million.

Bureau Veritas SA declined 3.8% to €17.68 after France-based inspections and audits, testing and analysis services provider said revenues in the nine-month period ending in September slumped 3% from a year ago to €3.36 billion.

The business support services provider estimated organic revenue growth in 2016 may slightly be negative that is likely to lower adjusted operating margin in the range of 16% to 16.5%.

Remy Cointreau gained 2.3% to €76.71 after France-based wines and spirits maker reported revenues in the first-half ending in September advanced 2.5% from a year ago to €513.4 million on the growth in sales in the U.S. China, U.K., Russia and Australia.

Kuehne und Nagel International AG slumped 4.1% to 131.60 Swiss francs after Switzerland-based logistics services provider said revenues in the third-quarter ending in September decreased 2.4% from a year ago to 4.10 billion francs.

Net profit in the quarter dropped 4.9% from a year ago to 176 million francs compared to the 185 million francs and diluted earnings per share increased to 1.47 francs from 1.54 francs.

Ryanair Holdings Plc jumped 2.5% to €12.10 after Ireland-based discount airline lowered net profit forecast in the full-year by 5% or between €1.30 billion and €1.35 billion compared to the earlier estimated range of €1.38 billion to €1.43 billion.

Ryanair confirmed that its fares declined 10% compared to previously estimated 9% fall and full-year load factor to be better than forecasted by 1% to 94% and passenger traffic to increase to 119 million, 12% higher than 106 million passengers in a year ago period.