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Market Update

BioMerieux Lifts Sales Outlook, Looking Ahead Petrofac Slices Dividend


Author: Sarla Buch
ticker.com
Last Update: 10:49 AM ET August 30 2017

4:00 PM Frankfurt BioMerieux lifted fiscal 2017 sales forecast. Baloise Holding first-half profit soared 34%. James Fisher estimated strong growth in the year after sales in the first-half jumped 13%. Petrofac profit surged but revenues plunged 21%.


In London trading, FTSE 100 index increased 34.89 or 0.5% to 7,372.36 and in Frankfurt the DAX index gained 68.46 or 0.6% to 12,014.26.

In Paris, CAC 40 index advanced 25.38 or 0.5% to 5,057.30.

BioMerieux SA soared 7.4% to 200.45 after France-based in-vitro diagnostics centers operator reported revenues in the first-half ending in June surged 13.3% from a year ago to 1.1 billion.

Net income in the period jumped 18% to 101 million from 86 million in a year ago six-month period and diluted loss per share jumped to 2.57 from 2.17.

BioMerieux said gross profit in the period advanced 53.3% to 605 million and operating profit increased 15.4% to 172 million.

The diagnostics centers operator revised its fiscal 2017 sales forecast to between 9% and 10% and operating profit in the range of 330 million to 345 million.

Baloise Holding Ltd gained 0.9% to 151 Swiss francs after Switzerland-based insurance and retirement solutions provider said total revenues in the first-half ending in June jumped 6.1% from a year ago to 5.2 billion francs.

Net income in the period soared 33.7% to 299 million francs from 223.6 million francs in a year ago six-month period and diluted loss per share increased to 6.26 francs from 4.80 francs.

James Fisher & Sons Plc advanced 2.1% to 1,580 pence after the U.K.-based marine freight and logistic services provider said group revenues in the first-half ending in June jumped 13% from a year ago to 235.8 million.

Net profit in the period fell 1.3% to 14.6 million from 14.8 million in a year ago six-month period and diluted earnings per share slid to 28.5 pence from 29.4 pence.

Petrofac Limited rose 0.7% to 426.20 pence after the Jersey-based oil and gas producer said revenues in the first-half ending in June plunged 20.5% from a year ago to $3.1 billion.

Net profit in the period surged to $70 million from a loss of $12 million in the same period a year ago.

Petrofac reduced its dividend in the period to 12.7 cents from 22 cents in the same period a year ago.

Petrofac forecasted fiscal 2017 operating profit in the range of $80 million to $100 million.

Siemens AG increased 0.6% to 109.35 after Germany-based industrial conglomerate agreed to acquire the Netherland-based self-driving software developer Tass International for an undisclosed financial terms.

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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