UBS Profit Jumps 9%; AMS Net Swing to Profit, PSA Reports Record Profit

Sarla Buch
24 Jul, 2018
New York City

AMS reported higher than expected second-quarter results. Edenred forecasted strong profit growth in Europe and Brazil. Hochtief net soared 21%. PSA posted record profit after Opel-Vauxhall unit swung to profit. UBS jumped after net profit in the second-quarter soared.

[R]4:00 PM Frankfurt – AMS reported higher than expected second-quarter results. Edenred forecasted strong profit growth in Europe and Brazil. Hochtief net soared 21%. PSA posted record profit after Opel-Vauxhall unit swung to profit. UBS jumped after net profit in the second-quarter soared.[/R]

In London trading, FTSE 100 index jumped 68.66 or 0.9% to 7,724.45 and in Frankfurt the DAX index soared 162.95 or 1.3% to 12,713.74.

In Paris, CAC 40 index advanced 61.51 or 1.1% to 5,439.65.

AMS AG soared 8% to 75.52 Swiss francs after Austria-based sensor and chipmaker said revenues in the first-half ending in June surged 76.4% from a year ago to $685.5 million.

Net in the period swung to profit of $39.1 million from a loss of $34.6 million in the same period a year ago and diluted earnings per share swung to 45 cents from diluted loss per share of 40 cents.

The high performance sensor maker forecasted revenues growth in the third-quarter between 78% and 94% sequentially and 46% to 59% in a year ago period or $450 million to $490 million.

AMS also estimated record level of revenues in the second-half of 2018 driven by strong production and shipment expansion in the consumer business.

The chipmaker said new orders secure strong growth in the second-half.

Edenred SA surged 11.4% to €31.85 after France-based prepaid meal voucher and card provider reported revenues in the first-half ending in June rose 2.3% from a year ago to €665 million.

Net income in the period jumped 3.6% to €142 million from €137 million in the same period a year ago and diluted earnings per share were flat at €0.52 from a year ago period.

The meal voucher and card provider forecasted fiscal 2018 operating profit to jump between €440 million from €470 million compared to €429 million in the same period a year ago.

Hochtief AG increased 1.2% to €157.90 after Germany- based construction services provider said sales in the first-half ending in June grew 1.7% from a year ago to €11.2 billion.

Net income in the period soared 21.1% to €228.9 million from €189.1 million in the same period a year ago and diluted earnings per share advanced to €3.56 from €2.94.

The construction services provider said as of June 30 new orders declined 6.5% to €12.8 billion but total orders jumped 11% to €45.6 billion from a year ago period.

Hochtief forecasted fiscal 2018 net profit to increase between 4% and 15% or in the range of €470 million to €520 million.

PSA Group soared 13.5% to €23.13 after France-based automobile and motorcycle maker reported group revenues in the first-half ending in June surged 40.1% from a year ago to €38.6 billion.

Net income in the period jumped 15.4% to €1.5 billion from €1.3 billion in the same period a year ago and diluted earnings per share increased to €1.58 from €1.39.

PSA said revenues in the PCD Automotive division jumped 11.4% to €22.1 billion and operating profit soared 30% to €1.9 billion and revenues in the Opel-Vauxhall unit to €9.9 billion and operating profit of about €502 million from a year ago period.

UBS Group AG advanced 3.8% to 15.86 Swiss francs after Switzerland-based banking and financial services provider said total operating income in the second-quarter ending in June increased 4% from a year ago to 7.6 billion francs.

Net income in the quarter advanced 9.4% to 1.3 billion francs from 1.2 billion francs in the same period a year ago and diluted earnings per share increased to1.58 francs from 1.39 francs.