BHP Net Tumbles, Persimmon Net Surge on Strong Deliveries

Sarla Buch
21 Aug, 2018
New York City

BHP Billiton profit tumbled but revenues surged. Dermapharm reaffirmed fiscal outlook. Persimmon profit soared on strong delivery and price. Polymetal profit soared on higher production and prices. John Wood net swung to a loss but revenues surged.

[R]4:00 PM Frankfurt – BHP Billiton profit tumbled but revenues surged. Dermapharm reaffirmed fiscal outlook. Persimmon profit soared on strong delivery and price. Polymetal profit soared on higher production and prices. John Wood net swung to a loss but revenues surged.[/R]

In London trading, FTSE 100 index decreased 25.40 or 0.3% to 7,565.86 and in Frankfurt the DAX index gained 42.53 or 0.3% to 12,373.83.

In Paris, CAC 40 index increased 38.25 or 0.7% to 5,417.86.

BHP Billiton Plc slipped 1.3% to 1,624.20 pence after the U.K.-based mining, metals and petroleum products producer reported total revenues in the year ending in June surged 20% from a year ago to $43.6 billion.

Net income in the year tumbled 37.9% to $3.7 billion from $5.9 billion in the same period a year ago and diluted earnings per share plunged to 69.4 cents from $1.10.

BHP Billiton said pretax profit in the year soared 33.3% to $14.8 billion from the same period a year ago.

“Somewhat cautious about the short-term outlook as we monitor closely the trade and geopolitical developments,” said chief executive officer Andrew Mackenzie.

BHP forecasted fiscal 2019 and 2020 capital and exploration expenditure at below $8 billion per year.

Dermapharm Holding SE gained 0.3% to €29.27 after Germany-based patent-free pharmaceutical products maker said revenues in the first-half ending in June soared 19.7% from a year ago to €280.3 million.

Group operating profit in the period surged 22.9% to €67.1 million from €54.6 million in the same period a year ago.

The pharmaceutical products maker reaffirmed fiscal 2018 revenues growth between 20% and 25% and operating profit to increase between 22% and 27% from a year ago period.

Persimmon Plc edged up 0.1% to 2,446 pence after the U.K.-based home builder reported total group revenues in the first-half ending in June advanced 5% from a year ago to £1.8 billion.

Net profit in the period soared 13.6% to £418.9 million from £368.6 million in a year ago six-month period and diluted earnings per share advanced to 130.1 pence from 243.1 pence.

The home builder said new home sales in the period jumped 4% to 8,072 units with an average selling price of £215,813, increase of 1% form £213,262 in the same period a year ago. New land secured in the period of about 11,072 plots.

Polymetal International Plc increased 1.5% to 656.20 pence after the Russia-focused said revenues in the first-half ending in June soared 16% from a year ago to $789 million.

Net income in the period jumped 46% to $175 million from $120 million in the same period a year ago and diluted earnings per share advanced to 40 cents from 28 cents.

The gold producer forecasted fiscal 2018 production of about 1.55 million ounces at a price range of $875 to $925 per gold equivalent ounce.

John Wood Group Plc surged 7.4% to 710.40 pence after the U.K.-based oilfield services provider reported total revenues in the first-half ending in June jumped 158% from a year ago to $4.9 billion.

Net in the period swung to a loss of $51.8 million from profit of $5.5 million in the same period a year ago and diluted loss per share swung to 7.9 cents from diluted earnings per share of 1.1 cents.