Novartis, Randstad Net Jump; Orange Lowers Profit Outlook

Sarla Buch
25 Oct, 2016
New York City

Air Liquide said revenues in the third-quarter rose. Novartis profit soared 7% and forecasted full-year profit to be at the best flat. Orange lowered profit forecast. Randstad net surged 16% on 7% jump in revenues. Whitbread net and revenues advanced.

[R]4:00 PM Frankfurt – Air Liquide said revenues in the third-quarter rose. Novartis profit soared 7% and forecasted full-year profit to be at the best flat. Orange lowered profit forecast. Randstad net surged 16% on 7% jump in revenues. Whitbread net and revenues advanced.[/R]

In London trading, FTSE 100 index jumped 43.76 or 0.6% to 7,030.06 and in Frankfurt the DAX index edged up 8.08 to 10,770.05.

In Paris, CAC 40 index slipped 10.29 or 0.2% to 4,542.29.

Air Liquide SA gained 1.6% to €94.30 after France-based industrial gas supplier said revenue in the third-quarter rose 0.4% from a year ago to €5.08 billion.

Air Liquide said gas & services unit revenue surged 29.9% benefited from consolidation of Airgas sales over the full quarter and 2% on a comparable basis.

Revenues in large industries segment jumped 5% to €1.31 billion and revenues in healthcare business soared 5.2% to €692 million while revenues in industrial merchant segment slumped 2% to €1.29 billion.

Novartis AG dropped 2.5% to 72.75 Swiss francs after Switzerland-based healthcare products maker reported net sales in the third-quarter ending in September slipped 1% from a year ago to $12.1 billion.

Net income in the quarter soared 7% from a year ago to $1.95 billion compared to the $1.81 billion and diluted earnings per share increased to 81 cents from 75 cents.

However, sales in Gleevec segment in the quarter plunged 30% to $834 million.

Novartis forecasted full-year sales are in-line with fiscal 2015 while core operating income may be flat or decline by a low-single-digit percentage from a year ago period.

Orange SA surged 5% to €14.80 after France-based telecommunications operator said revenues in the third-quarter ending in September increased 0.4% to €10.3 billion and operating profit jumped 2.9% to €3.55 billion from a year ago period.

Orange said group consolidated net income in the first-half surged 191% to €3.2 billion but revenues in the period were flat at €20 billion compared to the same period a year ago.

The mobile services provider said revenue in France fell 0.5% to €4.77 billion but slightly improved from the drop of 1.2% in the previous quarter and added domestic 134,000 fixed broadband customers and 187,000 net new mobile contracts without lowering average prices.

In Spain, revenue jumped 5.9% and in Africa and the Middle East soared 5.1% to 113.5 million customers.

As of September 30, total contract customer increased 2% to 20.644 million and total number connected SIM cards jumped to 5.92 million from 5.67 million a year ago while in domestic market mobile contract net additions remained at a high level, with 187,000 additions.

Orange lowered operating profit in the full-year between €280 million and €300 million compared to the earlier range of €285 million to €305 million.

Randstad Holding NV jumped 3.4% to €47.08 after the Netherlands-based staffing services provider revenues in the third-quarter ending in September soared 7.4% from a year ago to €5.35 billion and

Net income in the quarter surged 16% from a year ago to €176.8 million compared to the €153 million and diluted earnings per share advanced to €1.05 from €0.93.

The recruitment group said revenue per working day in North America rose 1% and growth in the U.S. remained broadly stable while in Canada and in the Europe soared 5% respectively and in Australia/New Zealand jumped 8% and in Japan increased 5%.

Whitbread Plc declined 3.5% to 3,707 pence after the U.K.-based hotels, coffee shops and restaurants operator said total revenues in the first-half ending on September 1 surged 8.1% from a year ago to £1.56 billion.

Profit in the period advanced 2.2% from a year ago to £200.7 million compared to the £196.3 million and diluted earnings per share increased to 111.06 pence from 107.98 pence.