Burberry China Sales Soar, Barratt Reports Record 9-Year Home Completions

Sarla Buch
12 Jul, 2017
New York City

Burberry first-quarter revenues jumped on strong sales in the U.K. and China. The homebuilder Barratt Developments forecasted profit ahead of market expectations. CropEnergies revenues and operating profit surged. SSP said revenues in the third-quarter soared 15%.

[R]4:00 PM Frankfurt – Burberry first-quarter revenues jumped on strong sales in the U.K. and China. The homebuilder Barratt Developments forecasted profit ahead of market expectations. CropEnergies revenues and operating profit surged. SSP said revenues in the third-quarter soared 15%.[/R]

In London trading, FTSE 100 index jumped 82.89 or 1.1% to 7,412.65 and in Frankfurt the DAX index increased 138.15 or 1.1% to 12,573.88.

In Paris, CAC 40 index advanced 57.22 or 1.1% to 5,197.82.

Burberry Group Plc gained 1.8% to 1,609 pence after the U.K.-based luxury goods retailer said retail revenues in the first-quarter ending in June jumped 3% from a year ago £478 million and comparable sales jumped 4%.

The luxury goods retailer said revenues in China more than doubled from a year ago.

Barratt Developments Plc rose 0.3% to 586 pence after the U.K.-based residential property developer said sales in the year ending in June surged 16.7% to £2.1 billion and total average selling price jumped 5.9% to £275,000.

The homebuilder forecasted pretax profit in the year to soar 12% to £765 million from a year ago.

CropEnergies AG increased 0.4% to €9.26 after Germany-based bio-ethanol producer said revenues in the first-quarter ending in June surged 38% from a year ago to €231 million and operating profit jumped 18% to €33.1 million.

The bio-ethanol maker forecasted fiscal 2018 revenues in the range of €850 million to €900 million and operating profit between €50 million and €90 million.

SSP Group Plc advanced 1.2% to 489.50 pence after the U.K.-based food and beverage supplier reported total revenues in the third-quarter ending in June soared 14.6% and comparable sales increased 3.6% from a year ago quarter.

The food and beverages supplier said net contract advanced 7.6% and 3.4% additional revenue gain from Travel Food Services in India.

Valeo SA jumped 2.4% to €63.90 after France-based passenger car parts maker intends to sell its hydraulic actuator business to Italy-based Raicam to meet the regulatory approval requirement from the European Commission for its planned acquisition of Germany-based FTE.