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Market Update

Aston Martin Sales Soar, Daily Mail and General Lowers Outlook


Author: Sarla Buch
ticker.com
Last Update: 11:05 AM ET May 25 2017

4:00 PM Frankfurt – Aston Martin wholesale and retail sales surged and luxury cars maker lifted revenues forecast. Card Factory said sales jumped 6%. Daily Mail and General Trust lowered weak fiscal outlook. Helical revenues plunged. Paypoint net swung to profit.

In London trading, FTSE 100 index rose 6.60 to 7,522.79 and in Frankfurt the DAX index slid 0.74 to 12,642.73.

In Paris, CAC 40 index edged up 6.03 to 5,347.37.

Aston Martin Lagonda Limited, the U.K.-based privately held luxury sports cars manufacturer said revenues in the first-quarter ending in March more than doubled from a year ago to £188.3 million.

Net in the quarter swung to profit of £4.8 million from a loss of £29.7 million in a year ago period.

Operating profit surged seven-fold to £43 million and cash flow soared to £55.7 million.

Wholesale sales soared 75% to more than 1,203 vehicles and retail sales jumped 100% from a year ago in the U.K. and China on strong orders for flagship DB11 model.

Aston Martin lifted its full-year revenues forecast to increase to more than £800 million and operating profit to jump to at least £170 million.

The luxury cars maker said it had successfully completed £550 million refinancing for better liquidity and reduce borrowing costs.

""The group has made a strong start to the year and delivering on our ''Second Century'' transformation program and building sustainable profitability,” said chief executive officer Andy Palmer.

Card Factory Plc gained 1.6% to 334.90 pence after the U.K.-based greeting cards, dressings and gifts retailer reported total group sales in the first-quarter ending in April jumped 6.1% from a year ago.

As of April 30, net debt in the quarter declined by £10.4 million to £125.4 million from £135.8 million reported on January 31.

Daily Mail and General Trust Plc declined 6.9% to 700 pence after the U.K.-based media and publishing company reported revenues in the first-half ending in March rose 1% from a year ago to £890 million.

Net profit in the period surged 195.2% from a year ago to £550.3 million from £186.4 million and diluted earnings per share jumped to 153.3 pence from 50.1 pence.

The published lowered fiscal 2017 forecast for DMG’s revenue growth rate in the low-single digits compared to the earlier estimated growth of mid-single digit.

Helical Plc slid 0.2% to 338.25 pence after the U.K.-based property developer stated revenues in the year ending in March declined 14.2% from a year ago to £99.9 million.

Net profit in the year plunged 62.7% from a year ago to £39.1 million from £104.9 million and diluted earnings per share slumped to 33.2 pence from 88 pence.

Mitie Group Plc fell 0.5% to 242.80 pence after the U.K.-based outsourcing services provider said its property management business was awarded a new 3-year contract with Maryhill Housing Association in Glasgow for repairs and maintenance works with an option for two-year extension.

Paypoint Plc dropped 2.4% to 963.56 pence after the U.K.-based payment and other services provider said revenues in the year ending in March slid 0.3% from a year ago to £211.9 million.

Net in the year swung to profit from a year ago to £59.6 million from a loss of £2.1 million and diluted earnings per share swung to 87.2 pence from diluted loss per share of 3.1 pence.

Paypoint said pretax profit in the year surged £69.1 million from £8.2 million in the same period a year ago.

Total dividends declared in the year to the end of March were £82.1 million or 120.6 pence per share, including the ordinary dividend of 45 pence 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