Playtech Tumbles on Profit Warning, Sanofi Profit Doubles

Sarla Buch
02 Nov, 2017
New York City

BT net declined on higher cost of telecasting rights. Credit Suisse net swung to profit on strong wealth management revenues. Sanofi dropped after weaker-than-expected revenues but profit doubled. Fielmann profit jumped on strong revenues. Playtech tumbled on profit warnings.

[R]4:00 PM Frankfurt – BT net declined on higher cost of telecasting rights. Credit Suisse net swung to profit on strong wealth management revenues. Sanofi dropped after weaker-than-expected revenues but profit doubled. Fielmann profit jumped on strong revenues. Playtech tumbled on profit warnings.[/R]

In London trading, FTSE 100 index advanced 47.41 or 0.6% to 7,535.37 and in Frankfurt the DAX index slumped 31.55 or 0.2% to 13,433.29.

In Paris, CAC 40 index dropped 18.88 or 0.3% to 5,495.41.

BT Group Plc declined 4% to 250.09 pence after the U.K.-based broadband, mobile and television services provider reported revenues in the first-half ending in September was flat from a year ago to £11.8 billion.

Net income in the period declined 32.6% to £809 million from £1.2 billion in a year ago six-month period and diluted earnings per share slumped to 8.2 pence from 11.5 pence.

BT said telecasting rights for the Premier League, Box Nation and Cricket Australia contributed higher costs.

Credit Suisse Group AG, the Switzerland-based banking and financial services provider said net revenues in the nine-month ending in September advanced 4% from a year ago to 15.7 billion francs

Net in the period swung to profit 1.1 billion francs from a loss of 91 million francs in a year ago nine-month period and diluted earnings per share swung to 0.47 francs from diluted loss per share of 0.04 francs.

The bank forecasted in the fourth-quarter it continued strong performance in wealth management businesses.

Fielmann AG edged up 0.04% to €76.14 after Germany-based contact lenses and eyewear products maker said sales in the in the nine-month ending in September jumped 4.9% from a year ago to €1.2 billion.

Net income in the period soared 7% to €141.8 million from €132.4 million in a year ago nine-month period and diluted earnings per share increased to €1.63 from €1.53.

Fielmann forecasted full year sales and profit to increase from a year ago period.

Playtech Plc tumbled 21.7% to 772 pence after the Isle of Man-based online gaming software developer forecasted performance for the full year will be around 5% below the bottom end of market expectations which driven by slowdown in parts of Asia and problems in contract with bingo.

However, online bingo and casino games operators said average revenues in the gaming division currently higher than those reported at the time of the interim results.

Sanofi SA slumped 2.2% to €78.77 after the France.-based therapeutic solutions provider reported revenues in the in the nine-month ending in September advanced 5.7% from a year ago to €26.4 billion.

Net income in the period more than doubled to €8.3 billion from €3.9 billion in a year ago nine-month period and diluted earnings per share jumped to €3.04 from €2.81.

The drugs-maker lowered full-year revenues forecast between 6% and 8% from the earlier estimate of 4% to 8% and reaffirmed flat earnings per shares after during the third-quarter drug sales of diabetes and cardiovascular declined 9.1% €1.67 billion.