Metro Offers Cautious Outlook; Aurubis Net Surges but TUI Net Drops 38%

Sarla Buch
13 Dec, 2017
New York City

Aurubis forecasted stable outlook for copper products in fiscal 2018. Dixons Carphone profit suffers on weak demand for mobile phones. Metro net declined following spinoff transaction. NCC revised higher charges in construction projects. TUI profit declined.

[R]4:00 PM Frankfurt – Aurubis forecasted stable outlook for copper products in fiscal 2018. Dixons Carphone profit suffers on weak demand for mobile phones. Metro net declined following spinoff transaction. NCC revised higher charges in construction projects. TUI profit declined.[/R]

In London trading, FTSE 100 index edged up 4.61 to 7,505.02 and in Frankfurt the DAX index slipped 27.65 or 0.2% to 13,155.56.

In Paris, CAC 40 index decreased 19.22 or 0.4% to 5,407.96.

Aurubis AG declined 3.2% to €69.20 after Germany-based copper and precious metals producer reported revenues in the year ending in September soared 17% from a year ago to €11 billion.

Net profit in the year surged 187.9% to €350.9 million from €121.9 million in a year ago period and diluted earnings per share jumped to €7.80 from €2.71.

Aurubis estimated fiscal 2018 copper products demand to be stable and at least match the current fiscal year demand.

Dixons Carphone Plc soared 6.7% to 178.65 pence after the U.K.-based electrical and telecommunications retailer reported group revenues in the first-half ending on October 28 rose 1% from a year ago to £4.9 billion.

Net income in the period plummeted 59.1% to £38 million from £93 million in a year ago period and diluted earnings per share dropped to 3.3 pence from 8 pence.

The electronics retailer forecasted fiscal 2018 pretax profit in the range of £360 million and £440 million.

Metro AG gained 1.3% to €17.74 after Germany-based food wholesale and retailer said sales in the year ending in September increased 1.8% from a year ago to €37.1 billion.

Net profit in the year dropped 33.5% to €345 million from €519 million in a year ago period and diluted earnings per share jumped to €0.89 from €1.39.

The food retailer forecasted fiscal 2018 overall sales to increase slightly but operating profit from real estate transactions to increase 10%.

NCC AB plunged 8.9% to 161 Swedish kronor after Sweden-based construction services provider warned that its fourth-quarter operating profit may be “close to zero” after raising charges to construction and civil engineering business to 315 million kronor.

TUI AG fell 0.3% to €15.91 after Germany-based tourism services provider reported revenues in the year ending in September jumped 7.5% from a year ago to €18.5 billion.

Net profit in the year tumbled 38% to €644.8 million from €1.04 billion in a year ago period and diluted earnings per share slumped to €1.10 from €1.77.

In fiscal 2018, the tour operator reaffirmed double digit earnings growth and operating income increase of at least 10%.