LVMH Plunges on Trade War Worries, PageGroup Says Brexit Non-Event

Sarla Buch
10 Oct, 2018
New York City

Ahlers net tumbled on weak revenues. Luxury goods conglomerate LVMH sales jumped after strong business in fashion and leather goods. PageGroup gross profit soared 20%.

[R]4:00 PM Frankfurt – Ahlers net tumbled on weak revenues. Luxury goods conglomerate LVMH sales jumped after strong business in fashion and leather goods. PageGroup gross profit soared 20%.[/R]

In London trading, FTSE 100 index fell 74.60 or 1% to 7,163.34 and in Frankfurt the DAX index slumped 172.53 or 1.4% to 11,804.69.

In Paris, CAC 40 index declined 75.51 or 1.4% to 5,243.04.

Ahlers AG slipped 1.9% to €3.05 after Germany-based men''s fashion products maker said revenues in the nine-month period ending in September declined 6.5% from a year ago to €168 million.

Net income in the period tumbled 95.1% to €0.2 million from €4.1 million in the same period a year ago.

Men''s fashion products maker said profit decline was driven by weak sales in the suits and jackets business and gross profit declined by 7.1%.

Ahlers forecasted fiscal 2018 revenues of about €235.9 million and operating profit of about €3.5 million.

Consus Real Estate AG fell 0.1% to €3.05 after Germany-based real estate developer said revenues in the first-half ending in September surged from a year ago to €242.4 million.

Net loss in the period widened to €8.1 million from €4.2 million in the same period a year ago and diluted loss per share increased to €0.10 from of €0.19.

LVMH Moet Hennessy Louis Vuitton SE plunged 7.9% to €263 after France-based luxury goods maker reported total revenues in the nine-month period ending in September soared 11% from a year ago to €33.1 billion.

The luxury goods conglomerate added revenues in the fashion and leather goods business surged 14% to €13.1 billion and revenues in the perfumes and cosmetics segment jumped 14% to €4.4 billion.

Revenues in the watches and jewelry segment soared €3 billion and in the wines and spirits segment advanced 7% to €3.6 billion.

PageGroup Plc dropped 2.2% to 533 pence after the U.K.-based recruitment services provider said gross profit in the third-quarter ending in September soared 19.7% from a year ago to £207.7 million.

PageGroup said profit in the U.K. rose 1%

“We’re not seeing a large number of jobs moving to Europe and not really seeing, beyond the talk, any significant move yet,” said chief executive officer Steve Ingham.