Europe Movers: Burberry Group, BT Group, Deutsche Bank, EasyJet, Premier Foods, Royal Mail

Bridgette Randall
18 May, 2023
Frankfurt

Burberry Group Plc decreased 5.7% to 2,377.0 pence after the UK-based luxury apparel and accessories company reported same store sales increased 16% from a year ago. 

Revenue in the fiscal year ending on April 1, 2023 increased 10% to £3.0 billion from £2.8 billion a a year ago. 

Profit after-tax increased 24% to £634 million from £511 million and diluted earnings per share expanded 29% to 126.3 pence from 97.7 pence a year ago. 

For the year comparable store sales rose 7% and the 13% jump in Mainland China lifted comparable store sales to 16% in the fourth quartet. 

The company reiterated its high single digit annual growth rate target for the fiscal year 2024 and adjusted operating margin of 20% in constant currencies. 

BT Group Class A plunged 7.3% to 137.25 pence despite the UK-based telecom group reporting 5% increase in adjusted annual core earnings. 

The telecom company also announced a plan to eliminate 55,000 jobs. 

Revenue in the financial year ending in March 2023 declined 1% to £20.6 billion and after-tax profit soared 50% to £1.9 billion from £1.2 billion a year ago. 

The company held its dividend payout at 7 pence a share and capital expenditure declined 4% to £5.0 billion.  

Deutsche Bank AG increased 3.5% to €9.72 after Germany's largest bank settled a lawsuit for $75 million brought by women who alleged that the bank facilitated sex trafficking activities of the late Jeffrey Epstein. 

EasyJet Plc increased 0.8% to 524.60 pence after the deep discount airline operator narrowed its first-half loss on rising international traffic. 

The company said passengers transported increased 41% to 33.1 million in the first-half from 23.1 million in the corresponding period a year ago. 

Revenue in the first-half increased to £2.7 billion from £1.5 billion and pre-tax loss shrank to £411 million from £545 million a year ago. 

International Distribution Services Plc declined 0.7% to 220.60 pence after the parent of Royal Mail reported an annual adjusted operating loss of £419 million. 

Premier Foods Plc advanced 3.9% to 134.64 pence after the company posted strong annual profit and increased its dividend. 

Revenue in the first quarter increased 6% to £197 million from £185.9 million a year ago. 

The company reiterated its full-year outlook.