Altice to Sell Telecom Towers, Deutsche Bank Net Loss Narrows

Sarla Buch
16 Mar, 2018
New York City

Altice said it intends to sell its telecom towers in France and Portugal. Deutsche Bank announced a sharp jump in bonuses after net loss narrowed. Fraport revenues soared on higher proceeds from land sales. J D Wetherspoon net income and revenues jumped.

[R]4:00 PM Frankfurt – Altice said it intends to sell its telecom towers in France and Portugal. Deutsche Bank announced a sharp jump in bonuses after net loss narrowed. Fraport revenues soared on higher proceeds from land sales. J D Wetherspoon net income and revenues jumped.[/R]

In London trading, FTSE 100 index rose 16.28 or 0.2% to 7,156.04 and in Frankfurt the DAX index gained 84.16 or 0.7% to 12,429.78.

In Paris, CAC 40 index increased 27.16 or 0.5% to 5,295.89.

For the week, FTSE 100 index gained 0.5%, the DAX index advanced 0.7% and the CAC 40 index advanced 0.7%.

Altice gained 0.7% to €8.12 after the Netherlands-based telecoms services provider reported revenues in the year ending in December fell 0.4% from a year ago to €14.7 billion and operating profit were flat at €5.8 billion from a year ago period.

The telecom services provider forecasted fiscal 2018 Altice Europe (post-split) to generate operating free cash flow between €2.4 billion and €2.6 billion and Altice France may generate operating free cash flow in the range of €1.6 billion to €1.7 billion.

Altice confirmed that it intends to sell its telecommunications towers in France and Portugal.

Deutsche Bank AG increased 1.1% to €12.91 after Germany-based banking and financial services provider reported revenues in the year ending in December declined 12% from a year ago to €26.4 billion.

Net loss in the year narrowed to €735 million from €1.4 billion in a year ago period and diluted loss per share dropped to €0.53 from €1.08.

The bank forecasted fiscal 2018 revenues to be higher than in 2017.

Fraport AG slumped 3.2% to €82.66 after Germany-based airport services provider said revenues in the year ending in December soared 13.5% from a year ago to €2.9 billion.

Net profit in the year declined 12% to €330.2 million from €375.4 million in a year ago period and diluted loss per share dropped to €3.57 from €4.07.

Fraport Group said revenue from retail and real estate in the year jumped 5.6% to €521.7 million from a year ago which was driven by improved passenger traffic numbers and higher proceeds from land sales.

The Frankfurt airport operator said operating profit in the year slumped 4.8% to €1 billion and as of December 31, 2017 net debt surged 49.1% to €3.5 billion from €2.4 billion in the same period a year ago.

J D Wetherspoon Plc dropped 3.9% to 1,245 pence after the U.K.-based pubs & hotels operator stated revenues in the first-half ending in December advanced 3.6% from a year ago to £830.4 million.

Net profit in the period jumped 36.6% to £41.4 million from £30.3 million in a year ago period and diluted earnings per share advanced to 39.2 pence from 27.2 pence.