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Market Update

BT, Novo Nordisk Net Climb; Diageo, Vedanta Sales Plunge

Author: Nigel Thomas
Last Update: 11:04 AM ET January 30 2015

4:00 PM Frankfurt BT Group profit surged 12% to 694 million but revenues dropped 3%. Novo Nordisk net profit jumped 8% to 6.53 billion kronor. Vedanta Resources third-quarter EBITDA tumbled 44% to 346 million.

In London trading, FTSE 100 index fell 0.2% or 12.73 to 6,797.87 and in Frankfurt the DAX index slid 0.1% or 14.54 to 10,723.33.

In Paris, CAC 40 index slipped 0.4% or 17.94 to 4,613.49.

BT Group Plc dropped 2% to 420.50 pence after the U.K.-based communications service provider reported revenues in the third-quarter ending in December fell 3% to 4.75 billion from 4.60 billion a year ago period.

Profit in the quarter surged 12% from a year ago to 694 million compared to 617 million and diluted earnings per share rose to 6.9 pence from 6.3 pence.

For the year, BT Group forecasted earnings before interest, tax, depreciation and amortization, excluding exceptional items of between 6.2 billion and 6.3 billion.

Novo Nordisk A/S fell 0.6% to 298 kronor after the Denmark-based pharmaceutical products maker reported sales in the fourth quarter ending in December climbed 13.3% to 24.59 billion kronor from 21.70 billion kronor a year ago period.

Net profit in the quarter jumped 7.9% from a year ago to 6.53 billion kronor compared to 6.05 billion kronor and diluted earnings per share increased to 2.51 kronor from 2.27 kronor.

For the year, sales soared 6% to 88.8 billion kronor and net profit increased 5% to 26.5 billion kronor and diluted earnings per share jumped 8% to 10.07 kronor.

The company forecasted sales for the year in the range of 6% to 9% in local currencies and a net loss of about 5 billion kronor.

Vedanta Resources Plc rose 0.5% to 372.70 pence after the India-focused diversified metals and mining company said revenues in the third-quarter ending in December plunged 30% to 565 million from 804 million and EBITDA tumbled 44% to 346 million from 615.7 million a year ago period.

The company reported group revenues in the quarter rose 1% to 3.36 billion compared to 3.34 billion and EBITDA plummeted 11% to 1.01 billion from 1.14 billion in the same period a year ago.

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