Casino Groupe Organic Revenues Rise, Telenor Profit Surges

Sarla Buch
17 Jul, 2018
New York City

Groupe Casino organic revenues accelerate but negative currency effects dragged total sales down. Hella reported strong annual sales and profit. Telenor profit surged and telecom services provider reaffirmed fiscal outlook. Schibsted net tumbled 68%.

[R]4:00 PM Frankfurt – Groupe Casino organic revenues accelerate but negative currency effects dragged total sales down. Hella reported strong annual sales and profit. Telenor profit surged and telecom services provider reaffirmed fiscal outlook. Schibsted net tumbled 68%.[/R]

In London trading, FTSE 100 index increased 37.04 or 0.5% to 7,636.85 and in Frankfurt the DAX index jumped 114.62 or 0.9% to 12,675.67.

In Paris, CAC 40 index rose 15.01 or 0.3% to 5,425.20.

Groupe Casino jumped 2.9% to €34.87 after France-based super and hypermarkets operator reported preliminary sales in the second-quarter ending in June declined 3% from a year ago to €8.9 billion but same store sales jumped 3.2%.

The food retailer said sales in Latin America surged 9.7% to €3.8 billion, same store sales advanced 4.4% and total domestic sales increased 1.6% to €5.2 billion and same store sales increased 2.1%.

Hella KGaA Hueck & Co advanced 2.9% to €50.75 after Germany-based automobile parts maker said preliminary sales in the year ending in June soared 7.2% from a year ago to €7.1 billion and pretax profit surged 8.8% to €581 million from €534 million in the same period a year ago.

Telenor ASA declined 4.2% to $19.33 after Norway-based telecom services provider reported revenues in the first-half ending in June dropped 2.3% from a year ago to 54.6 billion kroner.

Net income in the period surged 90% to 7.6 billion kroner from 4 billion kroner in the same period a year ago and diluted earnings per share jumped to 4.56 kroner from 1.93 kroner.

The telecom services provider said mobile subscriptions increased to 2.1 million from 2 million in the same period a year ago.

Telenor reaffirmed fiscal 2018 subscription and traffic revenue growth forecast between 1% and 2% and operating profit growth in the range of 2% to 3% and capital expenditure excluding licenses and spectrum costs between 17 billion kronor and 18 billion kronor.

Schibsted ASA surged 7.8% to $31.48 after Norway-based newspapers publisher said revenues in the first-half ending in June jumped 7.6% from a year ago to 8.9 billion kroner.

Net income in the period tumbled 67.6% to 454 million kroner from 1.4 billion kroner in the same period a year ago and diluted earnings per share slumped to 1.90 kroner from 6.20 kroner.

The media publisher said domestic revenues in the quarter soared 17% and revenues in France surged 21%, in Spain jumped 17% but in Sweden fell 4%.