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Earnings Analysis: 
adidas Net Soars; Henkel Sales Rise
Author: 123jump.com Staff
123jump.com
Last Update: 5:10 PM ET August 04 2010



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adidas AG second quarter revenues increased 19% and net soared on World Cup. Axa SA said first half net declined 29%. Henkel AG sales increased 11.6%. Societe Genrale SA second quarter net soared and net banking income rose 17%.

 
10:00 PM Frankfurt adidas AG second quarter revenues increased 19% and net soared on World Cup. Axa SA said first half net declined 29%. Henkel AG sales increased 11.6%. Societe Genrale SA second quarter net soared and net banking income rose 17%.

adidas AG fell 0.14% to 41.86 after the sportswear and sports equipment maker reported second quarter revenues grew 19% to 2.91 billion from 2.45 billion in 2009. Net income soared 1300% to 126 million or 0.60 per share from 9 million or 0.06 per share a year ago.

The company stated second-quarter profit surged as sales momentum picked up owing to FIFA World Cup 2010 as well as resurgence of the Reebok brand in North America. The company also lifted its full-year outlook.

Axa SA declined 0.88% to 14.59 after the insurer reported first half total revenues rose 3.1% to 49.93 billion from 48.41 billion in the previous year. Net income declined 29% to 944 million from 1.32 billion last year. Earnings per share declined to 0.35 from 0.56 a year earlier.

Henkel AG & Co. KGaA gained 2.04% to 33.26 after the household consumer products maker said sales increased 11.6% to 3,890 millions with strong contribution from the adhesive technologies and cosmetics/toiletries business sectors.

Societe Generale SA rose 0.74% to 45.73 after the French bank reported second-quarter net income surged 249.5% to 1.08 billion from 309 million last year. Operating income soared 199.6% to 1.60 billion from 534 million a year ago. Net banking income for the quarter rose 16.8% to 6.68 billion from 5.72 billion in the previous year.
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