Bouygues Lifts Outlook, British Land Swings to Profit

Sarla Buch
16 Nov, 2017
New York City

Bouygues reported better-than-expected results. British Land reported robust first-half profit on asset sale. Iliad revenues jumped as the telecom operator adds new subscribers. K+S Group reaffirmed fiscal 2017 forecast. Sodexo profit surged 14%.

[R]4:00 PM Frankfurt – Bouygues reported better-than-expected results. British Land reported robust first-half profit on asset sale. Iliad revenues jumped as the telecom operator adds new subscribers. K+S Group reaffirmed fiscal 2017 forecast. Sodexo profit surged 14%.[/R]

In London trading, FTSE 100 index increased 13.35 or 0.2% to 7,385.68 and in Frankfurt the DAX index gained 81.47 or 0.6% to 13,056.50.

In Paris, CAC 40 index advanced 42.16 or 0.8% to 5,343.41.

Bouygues SA advanced 4.6% to €42.78 after France-based construction and media conglomerate reported revenues in the nine-month period ending in August increased 3% from a year ago to €23.8 billion.

Net profit in the period more than doubled to €713 million from €345 million in a year ago period.

Bouygues Telecom lifted operating profit margin to between 26% and 27% from the earlier estimate of slightly above 25%.

British Land Company Plc jumped 2.9% to 613.50 pence after the U.K.-based real estate developer reported revenues in the first-half ending in June soared 11.8% from a year ago to £332 million.

Net in the period swung to profit £239 million from a loss of £195 million in a year ago six-month period and diluted earnings per share swung to 23.2 pence from diluted loss per share of 20.3 pence.

During the period the real estate developer sold assets worth £992 million, more than offsetting £215 million of acquisitions and capital spending.

Separately today, British Land secured a contract of about £200 million office reconstruction at Triton Street location of British Land’s Regent''s Place campus.

Iliad SA slipped 1.1% to €209.10 after France-based fixed-line telephony services provider said total revenues in the nine-month period ending in September advanced 6.6% from a year ago to €3.7 billion.

Iliad said mobile business revenues in the period surged 9% to €1.6 billion and revenues in the landline segment jumped 4.7% to €2.1 billion.

During the period, Iliad added net 250,000 new mobile subscribers and added net new 27,000 broadband and ultra-fast broadband subscribers.

The telephony services provider said as of September 30, total 4G subscribers jumped 39.6% to 7.4 million with average monthly data usage of almost 7 GB.

The K+S Group dropped 2.5% to €19.04 after Germany-based fertilizers and salt producer said revenues in the nine-month period ending in September increased 3.2% from a year ago to €2.6 billion.

Net profit in the period plummeted 11.8% to €152.7 million from €173.1 million in a year ago period and diluted earnings per share dropped to €0.80 from €0.90.

The fertilizers producer reaffirmed fiscal 2017 operating profit between €560 million and €660 million.

Sodexo SA slumped 2.4% to €103.40 after France-based personal and home services provider reported revenues in the nine-month period ending in August jumped 2.2% from a year ago to €20.7 billion.

Net profit in the period surged 13.5% to €723 million from €637 million in a year ago period and diluted earnings per share advanced to €4.85 from €4.21.

Sodexo said operating profit in the period soared 8.5% to €1.2 billion from the same period a year ago.

The on-site services provider forecasted fiscal 2018 revenues growth in the range of 2% to 4% and reaffirmed operating profit margin at about 6.5%.