Unilever Battles Volatile Prices and Currencies; ABB Wins More Orders

Sarla Buch
19 Jul, 2018
New York City

ABB profit surged 30%. Alstom revenues jump and new orders soared 38%. Publicis reported disappointed first-half results. SAP reported better-than-expected results. Unilever profit and revenues declined as the consumer products group faces price war, truck strike in Brazil and volatile currencies.

[R]4:00 PM Frankfurt – ABB profit surged 30%. Alstom revenues jump and new orders soared 38%. Publicis reported disappointed first-half results. SAP reported better-than-expected results. Unilever profit and revenues declined as the consumer products group faces price war, truck strike in Brazil and volatile currencies.[/R]

In London trading, FTSE 100 index edged up 2.36 to 7,678.64 and in Frankfurt the DAX index dropped 97.45 or 0.8% to 12,669.54.

In Paris, CAC 40 index slumped 31.83 or 0.6% to 5,414.67.

ABB jumped 3.9% to 22.84 Swiss francs after Switzerland-based diversified engineering services provider reported revenues in the second-quarter ending in June jumped 5% from a year ago to $8.9 billion.

Net income in the quarter surged 30% to $681 million from $525 million in the same period a year ago and diluted earnings per share advanced to 32 cents from 24 cents.

ABB said total new orders in the quarter soared 14% to $9.5 billion from a year ago period.

Alstom SA fell 0.2% to €38.37 after France-based rail transportation services provider said sales in the first-quarter ending in the June soared 14% from a year ago to €2 billion.

The rail services provider said as of June 30, new orders surged 38% to €2.64 billion from €1.91 billion in a year ago period.

Alstom forecasted fiscal 2018 sales to reach about €8 billion and operating margin growth of about 7% from a year ago period.

Publicis Groupe SA plunged 9.8% to €52.60 after France-based advertising services provider reported revenues in the first-half ending in June declined 7.8% from a year ago to €4.7 billion.

Net income in the period tumbled 22.2% to €301 million from €387 million in a year ago period and diluted earnings per share slumped to €1.30 from €1.69.

SAP SE slumped 3% to €101.54 after Germany-based business applications developer reported total revenues in the first-half ending in June rose 2% from a year ago to €11.3 billion.

Net income in the period jumped 20% to €1.4 billion from €1.2 billion in a year ago period and diluted earnings per share advanced to €1.20 from €0.99.

SAP lifted fiscal 2018 revenues forecast in the range of €21.03 billion to €21.25 billion from the earlier estimate of €20.85 billion to €21.25 billion and operating profit in the range of €7.40 billion to €7.5 billion from the earlier estimate of €7.35 billion to €7.50 billion.

Unilever NV advanced 2.9% to 4,325.50 pence after the Netherlands-based consumer goods maker reported revenues in the first-half ending in June slumped 5% from a year ago to €26.4 billion.

Net income in the period dropped 2.4% to €3.2 billion from €3.3 billion in a year ago period and diluted earnings per share slipped to €1.11 from €1.09.