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Market Update

AVEVA, Carlsberg Net Plunge; Serco Issues Fourth Profit Warning


Author: Nigel Thomas
ticker.com
Last Update: 10:39 AM ET November 10 2014

4:00 PM Frankfurt AVEVA net plummeted 46% to 10.7 million on 21% decline in revenues. Carlsberg profit dropped 5% to 2.10 billion kronor. Kabel Deutschland net swung to profit to 67 million. Serco announced fourth full-year profit warning. Telefonica Deutschland net swung to a loss.

In London trading, FTSE 100 index increased 0.5% or 30.75 to 6,597.99 and in Frankfurt the DAX index rose 0.1% or 7.80 to 9,299.63.

In Paris, CAC 40 index gained 0.2% or 7.21 to 4,197.10.

AVEVA Group Plc soared 5.3% to 1,469 pence after the U.K.-based engineering software provider said revenues in the first-half ending in September plunged 21% to 85.9 million from 108.5 million a year ago period.

Profit in the period plummeted 46.01% from a year ago to 10.69 million compared to 19.80 million and diluted earnings per share slumped to 16.70 pence from 29.59 pence.

Carlsberg A/S climbed 4.9% to 562.50 kronor after the Denmark-based beer and soft drinks maker reported sales in the third-quarter ending in September 4% to 18.12 billion kronor from 17.42 billion kronor a year ago period.

Profit in the quarter dropped 5% from a year ago to 2.10 billion kronor compared to 2.21 billion kronor and earnings per share slipped to 13.7 kronor from 14.4 kronor.

Kabel Deutschland Holding AG gained 1.8% to 109.90 after the Germany-based cable network operator said revenues in the second-quarter ending in September jumped 6% to 500 million from 471 million a year ago period.

Net in the quarter swung to profit from a year ago to 67 million compared to a loss of 129 million and diluted earnings per share swung to 0.75 per share from a loss per share of 1.46.

Serco Group Plc tumbled 33.1% to 212 pence after the U.K.-based outsourcing service provider announced its fourth full-year profit warning and estimated net to be between 130 million to 140 million and also lowered its outlook for 2015.

The company scheduled 550 million rights issue in the first-quarter of next year and the offering is expected to be underwritten by Bank of America, Merrill Lynch and J.P. Morgan Cazenove.

Serco plans to cancel final-year dividend payouts for the year and warned fiscal 2016 may be difficult.

Telefonica Deutschland Holding AG increased 1.2% to 3.93 after the Germany-based communication service provider said revenues in the third-quarter ending in September slid 0.5% to 1.22 billion from 1.22 billion a year ago period.

Net in the quarter swung to a loss from a year ago to 15 million compared to profit of 9 million and loss per share swung to 1 euro cent from earnings per share of 1 euro per share.

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