Ahold Delhaize, Henkel, Investec Net Soar; Royal Mail Net Tumbles 25%

Sarla Buch
17 Nov, 2016
New York City

Ahold Delhaize net surged 25% to

[R]4:00 PM Frankfurt – Ahold Delhaize net surged 25% to €236 million. Henkel profit soared 12% to €1.7 billion and lifted sales forecast by fiscal 2020. Investec net jumped 21%. Royal Mail net declined 25% and increased cost cutting target to £600 million.[/R]

In London trading, FTSE 100 index gained 36.37 or 0.5% to 6,786.10 and in Frankfurt the DAX index fell 18.48 or 0.2% to 10,644.59.

In Paris, CAC 40 index rose 10.65 or 0.2% to 4,512.38.

Koninklijke Ahold Delhaize NV dropped 2.5% to €20.10 after the Netherlands-based food retail said net sales in the third-quarter ending in September soared 64.2% from a year ago to €13.9 billion.

Net income in the period surged 24.9% from a year ago to €236 million compared to the €189 million and diluted earnings per share advanced to €0.19 from €0.23.

Henkel AG & Co KGaA slipped 1.2% to €107.90 after Germany-based consumer and industrial goods maker reported revenues in the nine-month ending in September increased 1% from a year ago to €13.9 billion.

Net profit in the quarter soared 12.4% from a year ago to €1.7 billion compared to the €1.5 million and diluted earnings per share slumped to €3.84 from €3.41.

The consumer goods maker forecasted sales growth by fiscal 2020 may between 2% and 4%.

Investec Plc gained 0.4% to 502.50 pence after South Africa-focused financial services provider said group net interest income in the first-half ending in September surged 22.4% from a year ago to £1.04 billion.

Net income in the period jumped 21% from a year ago to £221.9 million compared to the £183.4 million and diluted earnings per share increased to 25.4 pence from 19.1 pence.

Royal Mail Plc plunged 8.6% to 456.50 after the U.K.-based postal services provider reported revenues in the first-half ending in September rose 1% from a year ago to £4.6 billion.

Net income in the period declined 24.6% from a year ago to £86 million compared to the £114 million and diluted earnings per share dropped to 8.6 pence from 8.7 pence.

“As always, our performance for the full year will be dependent on the important Christmas period,” chief executive officer Moya Greene said.

“We have increased our cost cutting target to £600 million from £500 million of annualised costs cumulative over the three financial years ending 2017-18”, Moya added.

The costs associated with U.K. transformation may between £130 million and £160 million by March 2017.