Delivery Hero Shrinks and Delivers Profit, WM Morrison Net Drops

Sarla Buch
13 Sep, 2018
New York City

Delivery Hero net swung to profit after revenues surged 38%. Natixis sold several of its finance services units to parent company BPCE. WM Morrison profit declined. Rubis net declined but revenues surged.

[R]4:00 PM Frankfurt – Delivery Hero net swung to profit after revenues surged 38%. Natixis sold several of its finance services units to parent company BPCE. WM Morrison profit declined. Rubis net declined but revenues surged.[/R]

In London trading, FTSE 100 index edged down 0.51 to 7,312.85 and in Frankfurt the DAX index advanced 55.97 or 0.5% to 12,087.38.

In Paris, CAC 40 index increased 22.49 or 0.4% to 5,353.98.

Delivery Hero SE declined 5% to €44.16 after Germany-based online food-delivery service provider reported revenues in the first-half ending in June surged 38.1% from a year ago to €340 million.

Net in the period swung to profit €146.7 million from a loss of €221.4 million in the same period a year ago period and diluted earnings per share swung to €0.80 from diluted loss per share of €1.54.

The online food-delivery service provider said it plans to divest its business in Brazil, Australia, France, Italy and Netherlands in the second-half 2018.

Delivery Hero forecasted fiscal 2018 revenues between €760 million and €780 million and additional investments may negatively impact the adjusted operating profit up to €80 million.

Natixis SA jumped 3.3% to €5.97 after France-based insurance and financial services provider today said it sold off units of its finance services division to parent company Groupe BPCE for about €2.7 billion or $3.1 billion.

The transaction is expected to close by the end of first-quarter 2019.

Rubis SCA plunged 8.7% to €46.16 after France-based petroleum, gas, food and chemical storage service provider reported revenues in the first-half ending in June soared 21% from a year ago to €2.4 billion.

Net profit in the period declined 7.2% to €129 million from €139 million in the same period a year ago period and diluted earnings per share swung to €0.80 from diluted loss per share of €1.54.

Rubis said sales in Europe rose 3%, in Caribbean region surged 8% and in Africa increased 4%.

WM Morrison Supermarkets Plc slipped 1.4% to 262.05 pence after the U.K.-based supermarkets operator said revenues in the first-half ending on August 5 jumped 4.5% from a year ago to £8.8 billion.

Net income in the period tumbled 41.6% to £94 million from £161 million in a year ago period and diluted loss per share increased to 3.91 pence from 6.81 pence.

The supermarkets operator said pretax profit in the period declined 29% to £142 million from £200 million in the same period a year ago and the decline in profit was driven by costs of bond tendering and estimated inventory cost.

However, the retailer said comparable sales in the first-half advanced 4.9% and in second-quarter soared 6.3%.