Bollore, Deutsche Wohnen Profit Jump; Smiths Net Tumbles on Higher Costs

Sarla Buch
23 Mar, 2018
New York City

Bollore profit surged. Deutsche Wohnen profit soared 13% on 6% jump in revenues. Next Plc said online sales surged but retail sales declined. Smiths Group profit tumbled on higher research costs and the diversified engineering company lowered margins.

[R]4:00 PM Frankfurt – Bollore profit surged. Deutsche Wohnen profit soared 13% on 6% jump in revenues. Next Plc said online sales surged but retail sales declined. Smiths Group profit tumbled on higher research costs and the diversified engineering company lowered margins.[/R]

In London trading, FTSE 100 index fell 42.41 or 0.6% to 6,910.18 and in Frankfurt the DAX index dropped 220.69 or 1.8% to 11,879.39.

In Paris, CAC 40 index slumped 76.21 or 1.5% to 5,091.

For the week, FTSE 100 index declined 3.5%, the DAX index plunged 4.1% and the CAC 40 index dropped 3.6%.

Bollore SA dropped 2.8% to €4.23 after France-based transportation and logistics services provider reported group revenues in the year ending in December soared 82% from a year ago to €18.3 billion.

Net income in the year surged to €2.1 billion from €588 million in a year ago period and diluted earnings per share increased to €0.24 from €0.15.

Bollore said operating profit in the year jumped 79% to €1.1 billion, from a year ago which is including of €720 million contribution from Vivendi.

Net debt amounted to €4,841 million, an increase of €583 million after the acquisition of non-controlling interests in Havas representing a total financial investment of €1,601 million.

Deutsche Wohnen AG gained 1.1% to €36.45 after Germany-based residential property developer saied revenues in the year ending in December jumped 5.6% from a year ago to €744.2 million.

Net income in the year soared 12.5% to €1.8 billion from €1.6 billion in a year ago period and diluted earnings per share advanced to €4.74 from €4.43.

The home builder forecasted fiscal 2018 operating profit of about €470 million and disposals operating profit of about €615 million.

Next Plc surged 8.2% to 5,008 pence after the U.K.-based clothing, footwear and home products retailer said total group sales in the year ending in January fell 0.5% from a year ago to £4.1 billion.

Net profit in the period tumbled 65.7% to £104 million from £303 million in a year ago period and diluted earnings per share dropped to 25.7 pence from 75.6 pence.

The retailer said online sales jumped 9.2% to £1.9 billion but retail sales plummeted 7.9% to £2.1 billion and operating profit slumped 8.2% to £759.9 million from a year ago period.

Smiths Group Plc slumped 4% to 1,473.50 pence after the U.K.-based diversified engineering services provider reported revenues in the first-half period ending in December dropped 4% from a year ago to £1.5 billion.

Net profit in the period tumbled 65.7% to £104 million from £303 million in a year ago period and diluted earnings per share dropped to 25.7 pence from 75.6 pence.

Smiths Group said operating profit in the period declined 11% to £247 million and pretax profit plunged 12% to £217 million as operating margin fell to 16% from 17.1% and research costs in the period increased by 13% to 1.4% of sales.