Lufthansa Net Surges, Moller-Maersk Struggles as Oil Shipping Revenues Loss

Sarla Buch
02 Nov, 2016
New York City

A.P. Moller-Maersk profit tumbled 43% on 9% decline in revenues. Security services provider G4S said revenues soared 6% to

[R]4:00 PM Frankfurt – A.P. Moller-Maersk profit tumbled 43% on 9% decline in revenues. Security services provider G4S said revenues soared 6% to £4.8 billion. Deutsche Lufthansa profit surged 79% but the airline lowered revenues forecast. Hugo Boss net plunged 9%. Smurfit Kappa profit soared 22%.[/R]

In London trading, FTSE 100 index slumped 57.09 or 0.8% to 6,859.58 and in Frankfurt the DAX index declined 154.56 or 1.5% to 10,371.51.

In Paris, CAC 40 index dropped 54.24 or 1.2% to 4,416.04.

A.P. Moller-Maersk A/S plunged 6.8% to Danish kronor after Denmark-based container shipping group reported revenues in the third-quarter ending in September declined 8.9% from a year ago to $9.2 billion.

Net profit in the quarter tumbled 43.2% from a year ago to $429 million compared to the $755 million and diluted earnings per share slumped to $21 from $36.

G4S Plc surged 9.7% to 241.40 pence after the U.K.-based security services provider said revenues in the nine-month ending in September soared 5.7% to £4.82 billion mainly due to the group secured new contracts with annual revenues of about £1 billion and total contract value of £2 billion.

Deutsche Lufthansa AG dropped 3.1% to €11.11 after Germany-based airline group said total revenues in the third-quarter ending in September slipped 1.2% from a year ago to €8.83 billion.

Net profit in the quarter surged 79.1% from a year ago to €1.4 billion compared to the €794 million and diluted earnings per share jumped to €3.06 from €1.72.

The airliner said traffic revenues in the quarter slumped 3.7% to €7.04 billion but total number of passengers increased 1.9% to 32.69 million.

Deutsche Lufthansa forecasted revenues in the fourth-quarter to drop between 7% and 8%.

Hugo Boss AG jumped 5.6% to €11.11 after Germany-based luxury casual sports clothing and evening wear maker reported total revenues in the third-quarter ending in September plummeted 6% from a year ago to €703 million.

Net profit in the quarter plunged 9% from a year ago to €80.6 million compared to the €88.5 million and diluted earnings per share decreased to €1.17 from €1.28.

The luxury fashion brand maker reaffirmed operating profit in the year to decline in the range of 17% to 23%.

Next Plc increased 3.7% to 4,988 pence after the U.K.-based speciality and home products retailer reported said sales in the third-quarter dropped 3.5% from a year ago period.

The retailer tightened full-year sales estimate 1.75% decrease to 1.25% increase compared to the previous range of 2.5% fall to 2.5% growth.

The retailer also lowered fiscal 2017 pre-tax profit forecast between £785 million and £825 million from £775 million and £845 million.

Smurfit Kappa Group Plc advanced 4% to 1,831 pence after the Ireland-based packaging products maker stated revenues in the third-quarter ending in September increased 1% from a year ago to €2.1 billion.

Net profit in the quarter soared 22.3% from a year ago to €137 million compared to the €112 million and diluted earnings per share rose to €0.56 from €0.46.