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Market Update

Airbus in €1 B Deal with Kuwait; Partouche Sales Jumps


Author: Nigel Thomas
ticker.com
Last Update: 11:13 AM ET June 11 2015

4:00 PM Frankfurt – Airbus secured contract worth about €1 billion for 24 military helicopters to Kuwait. Partouche revenue climbed 4% to €205 million. Halma net fell 2% to £104 million. Home Retail’s Argos unit sales dropped 3%. Mulberry net swung to a loss on 9% decline in revenues.

In London trading, FTSE 100 index jumped 0.5% or 36.25 to 6,866.46 and in Frankfurt the DAX index climbed 1.5% or 164.68 to 11,430.69.

In Paris, CAC 40 index advanced 1.6% or 77.64 to 5,012.58.

Airbus Group SE advanced 2.4% to €61.96 after the France-based aerospace and defense products maker secured contract worth about €1 billion for the sale of 24 military helicopters to Kuwait.

Groupe Partouche SA soared 4.7% to €18.81 and France-based casinos operator said revenue in the first-half ending in April climbed 3.7% to €205.1 million from €197.9 million in a year ago period.

The company schedule to release earnings result for the first-half on June 24.

Halma Plc gained 0.9% to 764 pence after the U.K.-based hazard detection, life protection products maker reported revenues in the year ending in March declined 7% to £726.1 million from £676.5 million in a year ago period.

Net profit in the year dropped 2.2% from a year ago to £104 million compared to £106.3 million and diluted earnings per share slipped to 27.48 pence from 28.13 pence.

The company said three acquisitions during the year are completed for £84 million and acquisition pipeline remains healthy and one business disposal was completed with a small gain.

Home Retail Group Plc jumped 2.4% to 163.30 pence after the U.K.-based home improvement retailer said total sales in the first-quarter ending in May at Argos unit dropped 2.6% to £846 million mainly due to weak sales in electrical and seasonal products.

Comparable sales in the quarter declined 3.9%.

The general merchandise retailer added total sales in home improvement division Homebase slumped 1.6% to £438 million while comparable sales in the quarter soared 5.4%.

Mulberry Group Plc fell 0.4% to 901.70 pence after the U.K.-based apparel and accessories maker reported revenues in the year ending in March plunged 9% to £148.7 million from £163.5 million in a year ago period.

Net in the year swung to a loss from a year ago to £1.4 million compared to profit of £8.6 million and diluted loss per share swung to 2.3 pence from diluted earnings per share of 14.3 pence.

The company said retail sales dropped 9% £109.9 million and as expected wholesale in the year tumbled 29% to £38.8 million from the year ago period.

Petrofac Limited increased 2.2% to 916 pence after the U.K.-based oil and gas producer secured engineering and procurement contract for four-and-half year worth $900 million from Petroleum Development Oman to provide services for its Yibal Khuff Project.

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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