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Market Update : 
Burberry Suffers from Management Turmoil, Iliad Subscriber Base Crosses 6 M
Author: Sarla Buch
Last Update: 4:35 PM ET May 18 2017

4:00 PM Frankfurt Burberry said net dropped 8.5%. France based Iliad said revenues jumped on improved subscriber growth. Marston''s net jumped 26%. Royal Mail profit surged on parcel business. Germany based online pet food retailer Zooplus said profit declined 58%.

In London trading, FTSE 100 index declined 98.84 or 1.3% to 7,404.63 and in Frankfurt the DAX index slumped 57.41 or 0.5% to 12,575.42.

In Paris, CAC 40 index dropped 39.24 or 0.7% to 5,278.65.

Burberry Group Plc jumped 3.1% to 1,692 pence after the U.K.-based luxury goods manufacturer and retailer reported revenues in the year ending in March fell 2% from a year ago to 2.8 billion.

Net income in the year plunged 8.5% from a year ago to 287.7 million from 314.6 million and diluted earnings per share increased to 77.4 pence from 69.9 pence.

The retailer said pre-tax profit in the year tumbled 21% to 462 million after weak wholesale trading in the U.S.

""We have had a number of management transitions and we have a new chief executive starting in July, and ""we are considering the implications for Brexit,"" said chief finance officer Julie Brown.

Iliad SA slumped 3.6% to 225.15 after France-based Internet and telephony services provider reported total revenues in the first-quarter ending in March jumped 7% from a year ago to 1.2 billion and revenue in the mobile business surged 9% to 529 million and revenues in landline soared 5% to 697.8 million.

The communication services provider said it had booked 300,000 new landline and mobile subscribers during the quarter and approximately 60,000 new fiber subscribers.

The internet hosting services provider said its 4G subscribers reached to 6.3 million, representing an increase of 400,000 over the quarter and in the quarter, 4G data usage increased by more than 20%, with an average monthly data usage per 4G subscriber reached to 6 GB.

Marston''s Plc declined 4.4% to 137.72 pence after the U.K.-based pubs and bars operator said revenues in the year ending in March advanced 1.6% from a year ago to 451.5 million.

Net income in the year jumped 25.9% from a year ago to 30.1 million from 23.9 million and diluted earnings per share rose to 5.2 pence from 4.1 pence.

Separately today, the pub and bars operator agreed to acquire the brewing business of Charles Wells from the Charles Wells Group for about 55 million in cash.

Royal Mail Plc increased 2.1% to 440.20 pence after the U.K.-based postal services provider said revenues in the year ending in March rose 1% from a year ago to 9.8 billion.

Net income in the year surged 12.9% from a year ago to 272 million from 241 million and diluted earnings per share advanced to 27.3 pence from 24 pence.

The postal services provider said revenues in general logistics business surged 34% to 2.12 billion while revenues in the U.K. parcels, International and letters segment fell 0.2% to 7.66 billion.

Royal Mail said letters business revenues plunged 10% and revenues in print advertising segment declined 13% while parcel business delivery jumped 3% to 3.3 billion.

Schaltbau Holding AG slipped 0.9% to 39.08 after Germany-based transportation services provider said sales in the first-quarter ending in March declined 7.4% from a year ago to 110.6 million.

Net loss in the quarter widened from a year ago to 12.3 million from 2.6 million and diluted loss per share increased to 2 from 0.62.

Schaltbau said new orders in the quarter soared 14.9% to 170.8 million from 155.9 million in the same period a year ago.

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Sources: Data collected by and from company press releases, filings and corporate websites.
Market data: BATS Exchange. Inc.

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