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Market Update

Adecco Net Soars, E.ON Net Swings to Loss


Author: Nigel Thomas
ticker.com
Last Update: 11:21 AM ET March 11 2015

4:00 PM Frankfurt Adecco net soared 14% to 638 million. Deutsche Post profit dropped 1% to 2.1 billion. Domino Printing agreed to be acquired by Japan-based Brother for 1 billion. E.ON net swung to a loss of 3.2 billion on 7% decline in revenues. MAN SE swung to profit 254 million.

In London trading, FTSE 100 index edged up 5.82 to 6,708.66 and in Frankfurt the DAX index climbed 1.8% or 208.84 to 11,709.22.

In Paris, CAC 40 index jumped 1.8% or 89 to 4,970.95.

Adecco SA climbed 3.8% to Sfr78.40 after the Switzerland-based outsourcing services provider said revenues in the year ending in December jumped 3% to 20 billion from 19.50 billion a year ago period.

Net profit in the year soared 14% from a year ago to 638 million compared to 557 million and diluted earnings per share advanced 17% to 3.61 from 3.08.

The company forecasted to achieve EBITA margin target for fiscal 2015 of more than 5.5%.

Deutsche Post AG declined 3.4% to 29.23 after the Germany-based logistics services provider reported revenues in the year ending in December climbed 3.1% to 56.63 billion from 54.91 billion a year ago period.

Net profit in the year dropped 1% from a year ago to 2.07 billion compared to 2.09 billion and diluted earnings per share decreased to 1.64 from 1.66.

The company forecasted operating profit to jump for the fiscal 2015 between of 3.05 billion and 3.2 billion.

For the fiscal 2016, the Deutsche Post forecasted operating profit to increase in the range of between 3.7 billion and 3.7 billion.

Domino Printing Sciences Plc surged 31.1% to 946 pence after the U.K.-based industrial printing equipments maker agreed to be acquired by Japan-based office equipments maker Brother Industries Ltd.

The deal valued for about 1 billion in cash or 915 pence per share, represents a 27% premium to the yesterday close.

E.ON SE gained 1.4% to 14.06 after the Germany-based energy solutions provider said revenues in the year ending in December declined 7% to 111.55 billion from 119.69 billion a year ago period.

Net in the year swung to a loss from a year ago to 3.16 billion compared to profit of 2.09 billion and diluted loss per share swung to a 1.64 from diluted earnings per share of 1.10.

The company estimated EBITDA for the fiscal 2015 to be between 7 billion and 7.6 billion and underlying net income between 1.4 billion and 1.8 billion.

MAN SE fell 0.2% to 95.62 after the Germany-based engineering equipments maker stated revenues in the year ending in December plunged 10% to 14.29 billion from 15.86 billion a year ago period.

Net in the year swung to profit from a year ago to 254 million compared to a loss of 524 million and diluted earnings per share swung to 0.88 from diluted loss per share of 1.47.

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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