Home Builder Kier Report Record Orders, Rocket Internet Swings to Profit

Sarla Buch
20 Sep, 2018
New York City

Kier Group reported higher-than-expected revenues. Rio Tinto plans to return $3.2 billion through share through buy back. Rocket Internet swung to profit. Tom Tailor tumbled on profit warning.

[R]4:00 PM Frankfurt – Kier Group reported higher-than-expected revenues. Rio Tinto plans to return $3.2 billion through share through buy back. Rocket Internet swung to profit. Tom Tailor tumbled on profit warning.[/R]

In London trading, FTSE 100 index increased 25.69 or 0.4% to 7,356.81 and in Frankfurt the DAX index advanced 106.05 or 0.9% to 12,325.07.

In Paris, CAC 40 index jumped 56.26 or 1% to 5,449.99.

Argenx SE slumped 2.7% to €69.90 after the Belgium-based antibody therapeutic drug maker raises $300.6 million in gross proceeds in the U.S. public offering from the sale of 3,475,000 American Depositary Shares at a price of $86.50 per ADS.

The offering is expected to close on September 21.

Kier Group Plc jumped 3.7% to 1,078 pence after the U.K.-based residential property developer said revenues in the year ending in June jumped 5% from a year ago to £4.5 billion.

Net income in the period surged to £87.5 million from £11.8 million in the same period a year ago and diluted earnings per share jumped to 88.8 pence from 11.1 pence.

As of June 30, the residential property developer reported record construction and services orders of about £10.2 billion or $13 billion from £8.9 billion a year earlier.

Rio Tinto Plc jumped 2.2% to 3,803.50 pence after the U.K.-based metals and mining products producer intends to return about $3.2 billion through a share buy-back program for up to 41.2 million shares after it completes the sale of its Australian coal assets.

Rocket Internet SE gained 1.6% to €27.28 after Germany-based diversified investor reported revenues in the first-half ending in June soared 31.7% from a year ago to €23.7 million.

Net in the period swung to profit €297 million from a loss of €25.4 million in the same period a year ago and diluted earnings per share swung to €1.84 from diluted loss per share of €0.15.

Revenues in global fashion group segment surged 20% to €535 million and revenues in the Africa-based Jumia business jumped 67% to €315 million with the active customer base increased to 2.8 million, 79% surge from a year ago period.

Revenues in online home and living business Westwing soared 22% to €121 million and revenues in HelloFresh business surged 41% with a significant reduction in loss.

Tom Tailor Holding AG tumbled 15.1% to €4.24 after Germany-based fashion retailer forecasted fiscal 2018 total revenues between €840 million and €860 million and operating margin growth between 7.5% and 8.5%.

The fashion retailer said lower revenues were driven by the exceptionally hot and long summer and weak demand.