Diageo Plans

Sarla Buch
10 Aug, 2018
New York City

Bechtle profit and revenues surged. Diageo plans to launch share buyback for up to

[R]4:00 PM Frankfurt – Bechtle profit and revenues surged. Diageo plans to launch share buyback for up to £1.4 billion. Innogy profit declined on higher commodity prices. K+S missed fiscal 2018 operating profit forecast. TUI net loss narrowed on strong revenues and higher summer bookings.[/R]

In London trading, FTSE 100 index dropped 76.39 or 1% to 7,665.18 and in Frankfurt the DAX index plummeted 250.32 or 1.9% to 12,425.79.

In Paris, CAC 40 index declined 99.81 or 1.8% to 5,402.43.

Bechtle AG jumped 4.1% to €82.30 after Germany-based hardware and software services provider said revenues in the first-half ending in June surged 18.2% from a year ago to €1.9 billion.

Net profit in the period soared 17% to €55.6 million from €47.5 million in the same period a year ago and diluted earnings per share advanced to €1.32 from €1.13.

Bechtle said revenues in the domestic business jumped 16.2% to €1.3 billion and revenues in the international segment surged 22.4% to €609.6 million from a year ago period.

Diageo Plc gained 0.6% to 2,813.50 pence after the U.K.-based alcoholic beverages producer plans to launch first tranche of the share buyback for up to £1.4 billion through January 31, 2019.

Innogy SE slipped 0.6% to €37.52 after Germany-based renewable energy services provider said revenues in the first-half ending in June dropped 4.8% from a year ago to €20.7 billion.

Net profit in the period jumped 4% to €850 million from €817 million in the same period a year ago and diluted earnings per share increased to €1.53 from €1.47.

Innogy said operating profit in the period declined to €701 million from a year ago period.

K&S AG plunged 8.1% to €20.80 after Germany-based salt and specialty fertilizers producer forecasted fiscal 2018 operating profit between €660 million and €740 million from €577 million reported in the same period a year ago.

TUI AG jumped 2.3% to €17.54 after Germany-based travel and tourism services provider reported revenues in the first-half ending in June soared 6.3% from a year ago to €11.8 billion.

Net loss in the period narrowed to €124.2 million from €315.2 million in the same period a year ago and diluted loss per share were flat at €0.28 from a year ago period.

The travel and tourism services provider said summer bookings advanced by 4% despite the heat wave in Europe.