Lagardere Plunges on Weak Results, Life Science Unit Drives Merck Net Higher

Sarla Buch
09 Mar, 2018
New York City

nmarsat plans to invest in the aviation market. Lagardere plunged on weak results. Merck said profit surged was driven by sales growth in its healthcare and life-science segments. SIG net loss narrowed after significant improvement in Europe and Ireland businesses.

[R]4:00 PM Frankfurt – Inmarsat plans to invest in the aviation market. Lagardere plunged on weak results. Merck said profit surged was driven by sales growth in its healthcare and life-science segments. SIG net loss narrowed after significant improvement in Europe and Ireland businesses.[/R]

In London trading, FTSE 100 index rose 7.83 to 7,211.07 and in Frankfurt the DAX index slid 12.57 to 12,342.75.

In Paris, CAC 40 index jumped 28.87 or 0.6% to 5,282.96.

For the week, FTSE 100 index jumped 2.1%, the DAX index soared 3.6% and the CAC 40 index advanced 2.8%.

Inmarsat Plc declined 5.4% to 439.10 pence after the U.K.-based satellite communications provider reported revenues in the year ending in December jumped 5.4% from a year ago to $1.4 billion.

Net income in the year plunged 25.1% to $182.3 million from $243.4 million in a year ago period and diluted earnings per share jumped to 40 cents from 53 cents.

Revenues in Ligado Networks segment increased 6% to $126.7 million from a year ago and plans to invest in the aviation market after uncertainty for future payments from Ligado Networks.

The satellite mobile services provider forecasted fiscal 2018 revenues, excluding Ligado Networks LLC, of about $1.3 billion to $1.5 billion.

Lagardere SCA plunged 8.5% to €22.01 after France-based publishing services provider said group revenues in the year ending in December advanced 4% from a year ago to €7.1 billion.

Net income in the year rose 2.3% to €179 million from €175 million in a year ago period and diluted earnings per share increased to €1.38 from €1.36.

Lagardere said operating profit in the year soared 8% to €403 million from €395 million in a year ago period and as of December 31, 2017 group net debt remained stable at €1.4 billion.

The publishing services provider forecasted fiscal 2018 group operating profit to remain stable and match previous year earnings.

Merck KGaA jumped 2.3% to €79.46 after Germany-based drugs maker reported revenues in the year ending in December rose 2.1% from a year ago to €15.3 billion.

Net income in the year surged 60.1% to €2.6 billion from €1.6 billion in a year ago period and diluted earnings per share advanced to €5.98 from €3.75.

In fiscal 2018, the drug-maker forecasted revenues to increase moderately and operating profit in the range of 4% to 6%.

SIG Plc slumped 5.3% to 141.90 pence after the U.K.-based construction materials provider said revenues in the year ending in December soared 7.4% from a year ago to £2.8 billion.

Net loss in the year narrowed to £58.6 million from £121.6 million in a year ago period and diluted loss per share jumped to 10.1 pence from 20.6 pence.

""As the Group moves into 2018, we are seeing increasingly confident markets across Continental Europe and Ireland,"" said chief executive officer Meinie Oldersma.