Suez Intends to Buy GE's Water Business; Ahold Delhaize, ITV Net Tumble

Sarla Buch
01 Mar, 2017
New York City

Ahold Delhaize net tumbled 43% but revenues soared on improved U.S. business. CRH net soared on acquisitions. Carillion profit dropped on higher cost. Eni net swung to profit. ITV pre-tax profit declined 14%. Suez said it intends to buy GE''s water business.

[R]4:00 PM Frankfurt – Ahold Delhaize net tumbled 43% but revenues soared on improved U.S. business. CRH net soared on acquisitions. Carillion profit dropped on higher cost. Eni net swung to profit. ITV pre-tax profit declined 14%. Suez said it intends to buy GE''s water business.[/R]

In London trading, FTSE 100 index jumped 95.07 or 1.3% to 7,358.51 and in Frankfurt the DAX index increased 166.92 or 1.4% to 12,001.91.

In Paris, CAC 40 index advanced 81.31 or 1.7% to 4,939.89.

Koninklijke Ahold Delhaize NV soared 3.2% to €20.68 after the Netherland-based food retailer said net sales in the year ending in December jumped 54.5% from a year ago to €15.1 billion.

Net income in the year tumbled 43.3% from a year ago to €144 million from €254 million and diluted earnings per share decreased to €0.11 from €0.31.

CRH Plc jumped 5.4% to 2,866 pence after the Ireland-based building materials supplier reported revenues in the year ending in December surged 15% from a year ago to €27.1 billion.

Net profit in the year soared 70.1% from a year ago to €1.2 billion from €724 million and diluted earnings per share jumped to €1.49 from €0.89.

In fiscal 2016, the group made total eight acquisitions across four Americas Materials divisions and also CRH Canada, a total of about €508 million and agreed to sell six businesses for €400 million.

Carillion Plc plunged 6.5% to 204.70 pence after the U.K.-based construction services provider said total revenues in the year ending in December soared 14% from a year ago to £5.2 billion.

Pretax profit in the year dropped 5% from a year ago to £146.7 million from £155.1 million and diluted earnings per share fell to 25.9 pence from 28.2 pence.

“Given the size and quality of our order book and pipeline of contract, we have good platform from which to develop the business in 2017,” said Chairman Philip Green.

Eni SpA advanced 2.9% to €14.94 after Italy-based oil and gas explorer reported revenues in the year ending in December advanced 4.9% from a year ago to €15.8 billion.

Net in the year swung to profit from a year ago to €340 million from €8.4 billion and diluted earnings per share swung to €0.09 from diluted loss per share of €2.42.

ITV Plc gained 2.4% to 207.28 pence after the U.K.-based broadcasting services provider said total revenues in the year ending in December jumped 4% from a year ago to £3.5 billion.

Pretax profit in the year declined 14% from a year ago to £553 million from £641 million and diluted earnings per share dropped to 11.1 pence from 12.3 pence.

ITV said it is on track to deliver £25 million overhead cost savings in 2017 and operating profit in fiscal 2017 estimated to broadly flat, despite increase in revenues.

The broadcaster said in 2016, 53% of total ITV revenues came from sources outside traditional TV spot advertising.

Man Group Plc declined 3.8% to 140.90 pence after the U.K.-based investment manager stated net revenues in the year ending in December plunged 26.3% from a year ago to $803 million.

Pre-tax loss in the year swung from a year ago to $272 million from $184 million and diluted loss per share swung to 15.8 cents from diluted earnings per share of 10 cents.

The investment manager said as of December 2016, funds under management rose 3% to $80.9 billion and net inflow surged $1.9 billion from $0.3 billion in the same period a year ago.

Suez SA, formerly Suez Environment Company SA slumped 2.6% to €13.78 after France-based environmental services provider said revenues in the year ending in December increased 1.2% from a year ago to €15.3 billion.

Net income in the year rose 2.9% from a year ago to €420 million from €408 million and earnings per share jumped 4.3% to €0.72 from a year ago period.