Bpost Plunges on Weaker Profit Outlook, Rheinmetall Net Surges 50%

Sarla Buch
04 Dec, 2018
New York City

Bpost plunged 21% after the delivery service company estimated profit at the lower end of outlook. Elior said annual are expected to be in-line with estimate. IG Group lowered revenues forecast. Rheinmetall profit surged 50%. Victrex reported strong annual results.

[R]4:00 PM Frankfurt – Bpost plunged 21% after the delivery service company estimated profit at the lower end of outlook. Elior said annual are expected to be in-line with estimate. IG Group lowered revenues forecast. Rheinmetall profit surged 50%. Victrex reported strong annual results.[/R]

In London trading, FTSE 100 index decreased 28.73 or 0.4% to 7,034.35 and in Frankfurt the DAX index slumped 69.78 or 0.6% to 11,395.68.

In Paris, CAC 40 index slipped 23.12 or 0.5% to 5,030.82.

Bpost SA plunged 21% to €8.95 after Belgium-based postal and parcel services provider forecasted fiscal 2018 operating profit at the low end of the €560 million to €600 million range and declared interim dividend of €1.06 per share.

Elior Group SA declined 7.1% to €11.99 after the France-based commercial catering and food service provider reported revenues in the year ending in September jumped 4.2% from a year ago to €6.7 billion.

Net profit in the period tumbled 80% to €34 million from €114 million in a year ago period and diluted earnings per share slumped to €0.84 from €1.02.

IG Group Plc plunged 7.8% to 561 pence after the U.K.-based online trading services provider lowered revenue growth forecast in the first-half ending in May 2019 of about 6% from a year ago period.

The online trader said new OTC clients trading for the first time declined to 14,600 from 18,027 in the same period a year ago as a result revenue from the U.K. and Europe is estimated to drop 20%, offset by 9% jump in revenue from Asia-Pacific.

Ryanair Holdings Plc slipped 1.3% to €11.48 after Ireland-based low-cost airliner said total traffic in November jumped 11% to 10.4 million from a year ago month driven by lower fares and the successful launch of winter schedules.

Load factor in the month was flat at 96% from a year ago month.

The airline operated more than 56,000 scheduled flights in November with 88% of its flights arriving on time.

Rheinmetall AG declined 3.8% to €84.04 after Germany-based defense contractor reported revenues in the nine-month period ending in September slid 0.2% from a year ago to €4.16 billion.

Net profit in the period surged 49.5% to €154 million from €103 million in a year ago period and diluted earnings per share advanced to €3.59 from €2.40.

The defense contractor forecasted fiscal 2018 revenues to increase 5% from €5.9 billion in a year ago period.

However, Rheinmetall lowered sales growth forecast in automotive business to between 2% to 3% from the earlier estimate of 3% to 4% and also lowered sales growth forecast in the defense segment to between 6% and 7% or €3.2 billion from the earlier estimate of 12% increase.

Victrex Plc fell 0.4% to 2,503 pence after the U.K.-based polymer pipes and components maker said revenues in the year ending in September soared 12% from a year ago to £326 million.

Net income in the year jumped 11.2% to £110.6 million from £99.5 million in a year ago period and diluted earnings per share increased to 128.2 pence from 116.2 pence.

The polymer supplier said group sales in the year surged 10% to 4,407 tons from 3,992 tons and gross profit jumped 13% to £208 million from a year ago period.