Asos Reaffirms Outlook, Hammerson Received Revised Merger Proposal

Sarla Buch
11 Apr, 2018
New York City

Asos.com plans to increase capital spending in fiscal 2018. Barry Callebaut reported increase in profit after sales volume jumped 8%. Hammerson received revised proposal from France-based rival Klepierre. PageGroup profit soared 10%.

[R]4:00 PM Frankfurt – Asos.com plans to increase capital spending in fiscal 2018. Barry Callebaut reported increase in profit after sales volume jumped 8%. Hammerson received revised proposal from France-based rival Klepierre. PageGroup profit soared 10%.[/R]

In London trading, FTSE 100 index decreased 6.75 to 7,259.83 and in Frankfurt the DAX index slipped 91.27 or 0.7% to 12,306.05.

In Paris, CAC 40 index fell 27.06 or 0.5% to 5,279.42.

Asos.com Plc dropped 2.3% to 6,866 pence after the U.K.-based online fashion and beauty retailer reported revenues in the first-half ending in February soared 27% from a year ago to £1.2 billion.

Net profit in the period jumped 11.9% to £24.5 million from £21.9 million in a year ago period and diluted loss per share advanced to 29.2 pence from 26.3 pence.

The online fashion retailer reaffirmed fiscal 2018 sales to increase between 25% and 30% but capital expenditure to jump to between £230 million and £250 million.

Barry Callebaut AG plunged 6.5% to 1,786 Swiss francs after Switzerland-based chocolate and cocoa products maker reported revenues in the first-quarter ending in February rose 0.3% from a year ago to 3.5 billion francs.

Net profit in the period surged 21.7% to 173 million francs from 142.1 million francs a year ago period and operating profit 16% to 359.4 million francs.

The chocolate maker said as of February 28 net debt declined 16.9% to 1.2 billion francs from 1.4 billion francs in the same period a year ago.

Hammerson Plc slipped 0.8% to 521 pence after the U.K.-based real estate developer said it had received a revised takeover proposal from France-based rival Klepierre SA for about 635 pence per share comprising 50% in Klepierre new shares and 50% in cash.

On March 8, Klepierre SA made an unsolicited offer of 615 pence per share which was rejected by the company.

PageGroup Plc decreased 1.6% to 541.50 pence after the U.K.-based recruitment services provider said group profit in the first-quarter ending in March surged 10.3% from a year ago to £187.7 million.

Gross profit in France advanced 18%, in Germany surged 28% and in Greater China, jumped 17% and South East Asia soared 19%.

In the U.S. sales increased 17% and Latin America surged 26% but in the U.K. declined 7.1%.