Ctrip.com Buys Skyscanner; Remy Net Jumps, ThyssenKrupp Net Falls

Sarla Buch
24 Nov, 2016
New York City

Mothercare net tumbled 92% and closed six stores. Marston''s surged 213%. Remy Cointreau net soared 15% and reaffirmed profit forecast. Skyscanner agreed to be acquired by China-based Ctrip.com for

[R]4:00 PM Frankfurt – Mothercare net tumbled 92% and closed six stores. Marston''s surged 213%. Remy Cointreau net soared 15% and reaffirmed profit forecast. Skyscanner agreed to be acquired by China-based Ctrip.com for £1.4 billion. ThyssenKrupp net fell but the steel maker lifted profit outlook.[/R]

In London trading, FTSE 100 index slid 1.05 to 6,816.77 and in Frankfurt the DAX index increased 21.72 or 0.2% to 10,684.32.

In Paris, CAC 40 index rose 7.74 or 0.2% to 4,536.95.

Legal & General Group Plc rose 0.3% to 235.50 pence after the U.K.-based insurer agreed to sell its Netherlands-based subsidiary to Chesnara Plc for about €160 million or $168.5 million.

Mothercare Plc plunged 5.8% to 105 pence after the U.K.-based baby apparel and accessories retailer said revenues in the first-half ending in September fell 0.6% from a year ago to £347.7 million.

Net income in the year tumbled 91.7% from a year ago to £0.4 million compared to the £4.8 million and diluted earnings per share slid to 0.2 pence from 2.7 pence.

The baby products retailer closed six stores in the first-half and refurbished three-fifths shops converted to ""new modern format"".

Marston''s Plc slumped 2.2% to 132.99 pence after the U.K.-based brewer and pub operator reported revenues in the first-half ending in September jumped 6.7% from a year ago to £937.3 million.

Net income in the year surged 213.3% from a year ago to £73 million compared to the £23.3 million and diluted earnings per share advanced to 12.6 pence from 4 pence.

Remy Cointreau gained 1.3% to €75.33 after France-based wines and spirits producer said revenues in the first-half ending in September increased 2.5% from a year ago to €513.4 million.

Net profit in the quarter soared 14.8% from a year ago to €76 million compared to the €66.3 million and diluted earnings per share of jumped to €1.56 from €1.37.

Remy reaffirmed operating profit growth in fiscal 2017 may in line with expectation.

Skyscanner Holdings Ltd, the U.K.-based privately held online travel services provider agreed to be acquired by China-based rival Ctrip.com International Ltd for about £1.4 billion or $1.74 billion.

The transaction is expected to close by the end of this year.

ThyssenKrupp AG slipped 1.4% to €21.65 after Germany-based industrial conglomerate reported revenues in the year ending in September declined 8% from a year ago to €39.3 billion.

Net profit in the quarter dropped 4% from a year ago to €296 million compared to the €309 million and diluted earnings per share of slid to €0.52 from €0.55.

ThyssenKrupp forecasted operating profit in the fiscal 2017 to jump about €1.7 billion compared to the €1.5 billion in fiscal 2016 and a ""clear improvement"" in net profit and ""slightly positive.""

As of September 30, the group net debt stood at €3.5 billion from €3.4 billion in last year and the group’s available liquidity of about €8 billion.