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Market Update

Bechtle Profit Climbs 20%, Wetherspoon Net Rises 7%


Author: Nigel Thomas
ticker.com
Last Update: 11:39 AM ET March 13 2015

4:00 PM Frankfurt Bechtle, Germany based IT company said profit climbed 20% on 14% increase in revenues. BP agreed to divest its Australian bitumen business to Puma Energy. Dart surged after positive fiscal outlook. J D Wetherspoon net jumped 7%. Oxford BioMedica net loss narrowed.

In London trading, FTSE 100 index fell 0.2% or 13.85 to 6,747.22 and in Frankfurt the DAX index decreased 0.3% or 36.63 to 11,762.76.

In Paris, CAC 40 index slid 0.1% or 5.77 to 4,981.56.

Bechtle AG slid 0.05% to 73.56 after the Germany-based e-commerce trader said total group revenues in the year ending in December soared 13.5% to 2.58 billion from 2.27 billion a year ago period.

Net profit in the year climbed 20.2% from a year ago to 76.2 million compared to 63.4 million and diluted earnings per share jumped to 3.63 from 3.02.

BP Plc slipped 1.1% to 421.10 pence after the Dow Jones Newswires said oil and gas explorer agreed to divest its Australian bitumen business to Singapore-based Puma Energy without disclosing the financial terms of the sale.

The transaction is expected to close in the second-quarter.

Dart Group Plc soared 18.5% to 366.25 after the U.K.-based airline forecasted underlying operating profit for the year to be ahead of market expectations at 49.2 million in fiscal 2014.

J D Wetherspoon Plc declined 3.9% to 779.50 pence after the U.K.-based pubs and bars operator said revenues in the first-half ending on January 25 climbed 9% to 744.4 million from 683.2 million a year ago period.

Net profit in the period jumped 6.9% from a year ago to 27.8 million compared to 26 million and diluted earnings per share increased to 22.6 pence from 20.7 pence.

Oxford BioMedica Plc climbed 4.2% to 10.24 pence after the U.K.-based biopharmaceutical company said total revenues in the year ending in December soared 151.8% to 13.6 million from 5.4 million a year ago period.

Net loss in the year narrowed from a year ago to 8.7 million compared to 11.1 million and diluted loss per share dropped to 0.43 pence from 0.79 pence.

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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