Vodafone in

Sarla Buch
09 May, 2018
New York City

Henkel profit and sales fell on negative currency effects and persistent problems in supply chain. Fraport recorded 14.4 million passenger count. TUI net loss narrowed and travel services operator estimated solid demand for summer booking. Vodafone agreed to buy assets of Liberty Global

[R]4:00 PM Frankfurt – Henkel profit and sales fell on negative currency effects and persistent problems in supply chain. Fraport recorded 14.4 million passenger count in the first-quarter. TUI net loss narrowed and travel services operator estimated solid demand for summer booking. Vodafone agreed to buy assets of Liberty Global for €18.4 billion.[/R]

In London trading, FTSE 100 index advanced 78.24 or 1% to 7,645.22 and in Frankfurt the DAX index rose 19.48 or 0.2% to 12,932.18.

In Paris, CAC 40 index edged up 5.40 to 5,527.28.

Fraport AG Frankfurt jumped 2.5% to €84.26 after Germany-based airports operator said group revenues in the first-quarter ending in March surged 15% from a year ago to €681.7 million.

Net profit in the quarter jumped 4.3% to €19.6 million from €18.8 million in a year ago period and diluted earnings per share advanced to €0.25 from €0.20.

The airport operator said passenger growth in the quarter jumped 10% to 14.4 million passengers.

Henkel AG & Co KgaA slipped 1.2% to €104.45 after Germany-based chemical and consumer goods maker reported sales in the first-quarter ending in March declined 4.5% from a year ago to €4.8 billion.

Net profit in the quarter plunged 9.7% to €548 million from €607 million in a year ago period and diluted earnings per share slumped to €1.24 from €1.37.

The consumer goods maker estimated currency volatility is likely to persist and and raw materials prices and packaging costs are expected to rise compared to the previous year.

Henkel reaffirmed fiscal 2018 sales forecast between 2% and 4% and operating profit to increase more than 17.5% and earnings per share to jump between 5% and 8%.

TUI AG decreased 1.5% to €19.69 after Germany-based leisure, travel and tourism services provider said revenues in the first-half ending in March jumped 7.2% from a year ago to €6.8 billion.

Net loss in the period narrowed to €200.2 million from €245.5 million in a year ago period and diluted loss per share dropped to €0.46 from €0.51.

The tourism services provider said summer bookings are in-line with expectations and summer 2019 travel bookings are in strong demand for Spain, Turkey, North Africa and Greece.

The leisure and travel services provider forecasted fiscal 2018 operating profit to jump at least 10% and estimated “strong earnings growth and cash generation.”

Vodafone Group Plc increased 1.1% to 209.85 pence after the U.K.-based telecom conglomerate agreed to acquire some assets of domestic cable operator Liberty Global Plc in Germany, the Czech Republic, Hungary and Romania for an enterprise value of €18.4 billion or $22.5 billion in cash.

""We agreed on a price. It''s that simple,"" said chief executive officer of Liberty Global Mike Fries.