Established 1999
     
8,000 companies from USA and India.  
   
Search over 25,500 news articles and 8,000 companies earnings    
 
Market Update : 
Deutsche Post, Standard Life Net Soar; Pandora Plunges 11%
Author: Sarla Buch
123jump.com
Last Update: 11:28 AM ET August 08 2017



Email article | Print article

 
4:00 PM Frankfurt Bellway forecasted strong growth in revenues. Deutsche Post profit jumped. Pandora reaffirmed revenue estimate but missed earnings estimates. Paddy Power Betfair net swung to profit. Standard Life profit soared 29% ahead of Aberdeen merger this month.

In London trading, FTSE 100 index slid 4.60 to 7,527.34 and in Frankfurt the DAX index decreased 44.97 or 0.4% to 12,211.50.

In Paris, CAC 40 index fell 7.90 or 0.2% to 5,200.31.

Bellway Plc gained 1.2% to 3,212 pence after the U.K.-based home builder forecasted housing revenues in the year ending in July to jump 13% from a year ago to 2.5 billion and volumes continue to soared 11% to 9,644 completions from 8,721 units in a year ago.

The operating margin is estimated to be flat and orders surged 16% to 1.3 billion, including reservations of 900 million compared to the 846 million.

The average home selling price jumped 2.9% to a record 260,000 from 252,793 in the same period a year ago.

Deutsche Post AG increased 1.3% to 34.60 after Germany-based postal and parcel services provider reported revenues in the first-half ending in June jumped 5.8% from a year ago to 29.7 billion.

Net income in the period advanced 4.7% to 1.23 billion from 1.18 billion in a year ago six-month period and diluted earnings per share rose to 1 from 0.94.

The postal services provider said as of June 30, net debt surged 58.1% to 3.6 billion from 2.3 billion in the same period a year ago.

Deutsche Post reaffirmed operating profit forecast in fiscal 2017 of about 3.75 billion and postal group also reaffirmed its operating profit estimate to jump more than 8%.

Pandora A/S tumbled 11% to 669.50 Danish kronor despite Denmark-based jewelry retailer reporting group revenues in the first-half ending in June soared 10% from a year ago to 9.98 billion kronor.

Net income in the period fell 2.8% to 2.46 billion kronor from 2.53 billion kronor in a year ago six-month period and diluted earnings per share slid to 21.9 kronor from 21.8 kronor.

The retailer said gross margin in the period slightly decreased to 73.6% from the 75% in a year ago period and comparable store sales in the period soared 10%.

Pandora reaffirmed full-year revenue estimate of about 23 billion kroner to 24 billion kroner and an operating profit of about 38%.

Separately the jeweler said it will pay 110 million to buy the distribution rights for its jewelry in Spain, Gibraltar and Andorra.

Paddy Power Betfair Plc, formerly Paddy Power Plc, the U.K.-based privately held betting services provider said revenues in the first-half ending in June soared 9% from a year ago to 827 million.

Net in the period swung to profit 86.4 million from a loss of 165 million in a year ago six-month period and diluted earnings per share swung to 1.02 pence from diluted loss per share of 0.68 pence.

Betting services provider said pretax profit in the period swung to 102.3 million from a loss of 45.9 million in a year ago period.

The Paddy Power forecasted fiscal 2017 operating profit between 445 million and 465 million.

Standard Life Plc fell 0.6% to 442.70 pence after the U.K.-based insurance and investment services provider reported total revenues in the first-half ending in June declined 3.9% from a year ago to 7.4 billion.

Net income in the period soared 29.2% to 292 million from 226 million in a year ago six-month period and diluted earnings per share jumped to 14.8 pence from 11.4 pence.

The insurer raised its interim dividend by 8.2% to 7 pence from 6.47 pence in a year earlier. Assets under administration increased 1% to 361.9 billion.

Standard Life said it plans to complete its 3.8 billion or $5 billion acquisition of Aberdeen Asset Management Plc on August 14.




  1 More: Market Update Archive

 


 
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites.
Market data: BATS Exchange. Inc.

350 Fund Managers Interviews - 10-year Annual earnings on 4,600 U.S. companies - 20-quarter Earnings on 3,800 U.S. companies - 3,200 U.S. IPO Prospectuses
- 2,100 Economic data releases from U.S., EU, UK, India, HK and Australia. 10-year Annual reports on 3,500 U.S. companies -
U.S. Earnings Calendar with 4,800 companies - 90,000 10-K reports - 26,000 Global markets news archive - 2,200 Earnings Conference Call Summaries

Other Sites:
1999-2017 123jump.com. All rights reserved