Praxair Approaches Linde; Britvic, Greene King, RPC, Sage Profit Jump

Sarla Buch
30 Nov, 2016
New York City

Airbus will reduce as many as 1,164 employees. Britvic soared after profit and revenues jumped 10%. Greene King net increased 5%. Linde rose after Praxair explored a merger. RPC profit soared 80%. Sage subscription growth surged 32%.

[R]4:00 PM Frankfurt – Airbus will reduce as many as 1,164 employees. Britvic soared after profit and revenues jumped 10%. Greene King net increased 5%. Linde rose afterPraxair explored a merger. RPC profit soared 80%. Sage subscription growth surged 32%.[/R]

In London trading, FTSE 100 index jumped 53.47 or 0.8% to 6,825.31 and in Frankfurt the DAX index increased 23.56 or 0.2% to 10,643.20.

In Paris, CAC 40 index advanced 27.29 or 0.6% to 4,578.75.

For the month, FTSE 100 index declined 2.3%, the DAX index slid 0.2% and the CAC 40 index increased 0.7%.

Airbus Group SE slipped 0.3% to €60.23 after France-based plane maker said it will reduce as many as 1,164 employees from the current workforce of 136,000 from the support and integrated functions.

Airbus plans to merge its corporate headquarters and major division of commercial-jetliner unit and transfer approx another 325 employees under the restructuring plan that was announced in September.

Britvic Plc soared 6.9% to 586 pence after the U.K.-based ice tea, soda and soft drinks maker said revenues in the year ending on October 2 surged 10.1% to £1.4 billion.

Comparable sales in the year increased 0.4%.

Net profit in the year jumped 10.3% from a year ago to £114.5 million compared to the £103.8 million and diluted earnings per share rose to 43.5 pence from 41.2 pence.

Greene King Plc declined 2.5% to 693.50 pence after the U.K.-based pub and brewer retailer reported net revenues in the first-half ending on October 16 soared 13.8% to £1.04 billion.

Net profit in the year jumped 5.4% from a year ago to £73.8 million compared to the £70 million and diluted earnings per share increased to 23.8 pence from 24.8 pence.

The pubs operator said group operating profit in the period advanced 5.7% to £176.5 million but sales in brewing and brands business fell 0.6% to £94.8 million from the same period a year ago.

“However, we are confident that the strength of our brands, pubs, people and cash generation leaves us well placed to deliver another year of progress,” Greene King chief executive Rooney Anand said.

Linde AG jumped 5.9% to €159 after the U.S.-based industrial gas supplier Praxair Inc approached to Germany-based rival for a potential merger.

RPC Group Plc surged 8.7% to 1,089 pence after the U.K.-based packaging and non-packaging plastic products maker said net revenues in the first-half ending in September surged 53% to £1.2 billion.

Net profit in the year soared 80% from a year ago to £51 million compared to the £28.3 million and diluted earnings per share advanced to 16.2 pence from 10.4 pence.

The packaging group reported operating profit in the period of £136.3 million from £82.8 million in the same period a year ago.

The Sage Group Plc dropped 1.3% to 667 pence after the U.K.-based enterprise software and services provider reported net revenues in the year ending in September advanced 9.3% to £1.6 billion.

Net profit in the year increased 6.8% from a year ago to £207.6 million compared to the £194.3 million and diluted earnings per share rose to 19.16 pence from 18 pence.

The Saga said software subscription growth in the year surged 32.3% compared to the 28.9% in the same period a year ago.

In fiscal 2017, the enterprise software developer forecasted organic revenue growth of about 6% and organic operating margin to jump at least 27%.