Carlsberg Lifted Outlook; Henkel Lowers Earnings Forecast

Sarla Buch
16 Aug, 2018
New York City

Carlsberg lifted fiscal outlook after strong demand in Asia. Henkel net plunged and lowered earnings forecast. ICA Gruppen profit tumbled on higher operating costs as the retailer struggles with heat wave in Europe. Wirecard profit and revenues surged.

[R]4:00 PM Frankfurt – Carlsberg lifted fiscal outlook after strong demand in Asia. Henkel net plunged and lowered earnings forecast. ICA Gruppen profit tumbled on higher operating costs as the retailer struggles with heat wave in Europe. Wirecard profit and revenues surged.[/R]

In London trading, FTSE 100 index advanced 58.51 or 0.8% to 7,556.38 and in Frankfurt the DAX index increased 85.13 or 0.7% to 12,248.14.

In Paris, CAC 40 index jumped 49.74 or 0.9% to 5,354.95.

Carlsberg A/S jumped 3% to 786.80 Danish kronor after Denmark-based brewery producer reported revenues in the first-half ending in June slid 0.7% from year ago to 30.9 billion kronor.

Net profit in the period soared 6.3% to 2.9 billion kronor from 2.7 billion kronor in the same period a year ago and diluted earnings per share increased 16.2 kronor from 15.1 kronor.

The brewer lifted fiscal 2018 profit forecast after strong demand for Tuborg beer in Asian region.

Henkel AG & Co. KGaA slipped 1.5% to €105.90 after Germany-based chemical and consumer goods maker said revenues in the first-half ending in June fell 1.8% from a year ago to €9.9 billion.

Net profit in the period plunged 6.6% to €1.1 billion from €1.2 billion in the same period a year ago and diluted earnings per share slumped to €2.63 from €2.82.

The consumer goods maker estimated sales growth between 2% and 4% but lifted sales growth in the Adhesive Technologies business to between 4% and 5% from the earlier estimate of 2% to 4%.

Henkel estimated fiscal 2018 operating profit of about 18% from the earlier estimate of 17.5% and the consumer products maker lowered earnings per share growth forecast to between 3% and 6% from the earlier estimate of 5% to 8%.

ICA Gruppen AB declined 5.4% to Swedish kronor after Sweden-based grocery retailer reported revenues in the first-half ending in June jumped 5.2% from year ago to 56.4 billion kronor.

Net profit in the period tumbled 27.3% to 1.6 billion kronor from 2.2 billion kronor in the same period a year ago and diluted earnings per share slumped 8.08 kronor from 10.67 kronor.

The retailer said strong sales was driven by warmest month of July as demand surged for bottled water, soft drinks and ice cream but that also increased logistics costs.

“Doing a lot of orders to small stores in the countryside is much more costly for us than doing large orders to large stores,” said chief executive officer Per Stromberg.

Wirecard AG surged 8.6% to €175.10 after Germany-based online payments services provider said revenues in the first-half ending in June soared 45.8% from a year ago to €897.6 million.

Net profit in the period jumped 46.7% to €153.3 million from €104.5 million in the same period a year ago and diluted earnings per share advanced to €1.24 from €0.85.

The electronic payments services provider forecasted fiscal 2018 operating profit between €530 million and €560 million.