Publicis Acquires Czech-based Kindred, Ted Baker Plunges on Fraser Woes

Sarla Buch
04 Oct, 2018
New York City

BTG soared on the upbeat fiscal forecast. Electrocomponents jumped on improved pretax profit estimates. EasyJet passenger traffic in September surged. Ted Baker plunged on weaker-than-expected results and weak forecast.

[R]4:00 PM Frankfurt – BTG soared on the upbeat fiscal forecast. Electrocomponents jumped on improved pretax profit estimates. EasyJet passenger traffic in September surged. Ted Baker plunged on weaker-than-expected results and weak forecast.[/R]

In London trading, FTSE 100 index dropped 64.21 or 0.9% to 7,446.07 and in Frankfurt the DAX index advanced 44.03 or 0.4% to 12,330.65.

In Paris, CAC 40 index slumped 55.47 or 1% to 5,435.93.

BTG Plc soared 5.3% to 589 pence after the U.K.-based healthcare products maker lifted fiscal 2018 sales growth in the vascular and oncology products between 15% and 17% from the earlier estimate of 13% to 15% increase.

The healthcare products maker forecasted full-year sales in pharmaceuticals division “around the upper end” from the earlier estimate of “flat-to-single digit decline.”

Electrocomponents Plc jumped 3.4% to 743 pence after the U.K.-based industrial and electronics products distributor forecasted pre-tax profit to soar 27% to £100 million from a year ago period.

The industrial products distributor estimated fiscal 2018 digital revenue growth of about 10%, led by strong growth of 12% in its own-brand business RS Pro.

EasyJet Plc slipped 0.7% to 1,208.50 pence after the U.K.-based low-cost airline operator said passenger traffic in September surged 14.2% to 8.82 million and load factor increased 0.8 percentage point to 92.8% from the same month a year ago.

Publicis Groupe SA rose 0.2% to €52.28 after France-based advertising, marketing and communications services provider today announced that it had acquired Czech Republic-based independent digital communications group of Kindred Group without disclosing financial terms.

Ted Baker Plc plunged 8.7% to 2,108 pence after the U.K.-based luxury fashion retailer said group revenues in the first-half ending on August 11 rose 3.5% from a year ago to £306 million.

Net income in the period fell 1.2% to £19 million from £19.3 million in the same period a year ago and diluted earnings per share decreased to 42.7 pence from 43.1 pence.

The fashion retailer said weak profit was driven by £0.6 million, one-time charge associated with the administration of department-store chain House of Fraser.

The 544-store retail chain sales increase in the first-half period declined to 11% from 13.9% in the same period a year ago and the retailer said retail environment in the U.K. is expected to “challenging.”