Richemont Sales Jumps, Sudzucker Lifts Outlook

Sarla Buch
12 Jan, 2017
New York City

Barratt Developments sales soared 16%. Richemont retail sales jumped 12% after sales in Americas and Asia Pacific surged. Hella Kgaa Hueck profit soared 21%. Marks and Spencer group sales jumped 6%. Sodexo revenues fell. Sudzucker lifted revenues forecast.

[R]4:00 PM Frankfurt – Barratt Developments sales soared 16%. Richemont retail sales jumped 12% after sales in Americas and Asia Pacific surged. Hella Kgaa Hueck profit soared 21%. Marks and Spencer group sales jumped 6%. Sodexo revenues fell. Sudzucker lifted revenues forecast.[/R]

In London trading, FTSE 100 index rose 7.98 to 7,298.47 and in Frankfurt the DAX index slipped 74.28 or 0.6% to 11,571.61.

In Paris, CAC 40 index slid 5.45 to 4,883.26.

Barratt Developments Plc slipped 0.9% to 496.30 pence after the U.K.-based residential property developer said total sales in the year ending in December soared 15.8% from a year ago to £2.3 billion.

The property developer estimated pre-tax profit to jump 7% to £315 million compared to the £295 million from a year ago.

The homebuilder said total average selling price in the year advanced 3.9% to £264,000 but total completions fell 7,180 units from 7,626 units in a year ago period.

Compagnie Financiere Richemont SA surged 8.6% to 77 Swiss francs after Switzerland-based luxury goods maker reported sales in the third-quarter ending in December jumped 5% from a year ago to €3.1 billion.

Retail sales jumped 12% to €1.9 billion but sales wholesale business dropped 3% to €1.2 billion.

Sales in the jewelry business advanced 8% to €1.7 billion while sales in specialist watchmakers segment slipped 2% to €813 million and other sales plunged 7% to €534 million.

The luxury goods maker said sales in Europe in the third quarter increased 3% and sales in Americas region soared 8% and sales in the Asia Pacific region surged 10% while sales in Japan fell 1%.

As of December 31, group net cash position edged up to €5.2 billion from €5.1 billion in a year ago period.

Hella Kgaa Hueck & Co increased 2.5% to €37 after Germany-based lighting and electronic products maker said sales in the first-half ending in December increased 1.2% from a year ago to €3.2 billion.

Operating profit in the period surged 20.9% from a year ago to €245 million compared to the €203 million and margin rose 1.3 percentage points to 7.7% from a year ago.

Marks and Spencer Group Plc rose 1% to 343.90 pence after the U.K.-based specialty retailer said Christmas sales rise in clothing and homeware segments and group sales in the third-quarter ending in December soared 5.9%.

Food sales in the quarter jumped 5.6% and clothing and home sales increased 3.1% and international sales advanced 2.9%. However, comparable sales in the period rose 0.6%.

""Better ranges, better availability and better prices"" chief executive officer Steve Rowe said but he warned that ""our fourth quarter reported numbers will be adversely affected by sale timing and later Easter.""

The retailer is scheduled to release its full-year results on May 24.

Sodexo SA slumped 2% to €105.80 after France-based personal and home services provider reported total group revenues in the first-quarter ending in November dropped 2.2% from a year ago to €5.5 billion.

Revenues in business and administrations segment declined 5% to €2.6 billion but revenues in health care and seniors business increased 2.6% to €1.2 billion and revenues in education segment rose 1% to €1.4 billion.

The group forecasted revenues in fiscal 2017 to increase about 3% and operating profit to jump between 8% and 9%.

Sudzucker AG jumped 2.7% to €24.06 after Germany-based sugar producer said revenues in the nine-month period ending in November fell 0.8% from a year ago to €4.91 billion.

The sugar producer said operating profit in the period surged 65.2% from a year ago to €327 million compared to the €198 million.

Sudzucker lifted revenues forecast in the fiscal 2016 in the range of €6.4 billion to €6.6 billion compared to the reported revenues of €6.4 billion in fiscal 2015.