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Market Update

Elekta Net tumbles 52%; First Derivatives, Wolseley Profit Climb

Author: Nigel Thomas
Last Update: 1:02 PM ET June 02 2015

4:00 PM Frankfurt –British American Tobacco’s Canadian unit ordered to pay £5.5 billion in two class-action lawsuits. Elekta net tumbled. First Derivatives profit surged more than two-fold. Wolseley net soared 29% to £195 million.

In London trading, FTSE 100 index edged down 0.61 to 6,952.97 and in Frankfurt the DAX index slipped 0.7% or 82.82 to 11,353.23.

In Paris, CAC 40 index fell 0.2% or 9.01 to 5,016.29.

British American Tobacco Plc dropped 2.2% to 3,511.50 pence after the U.K.-based tobacco products maker’s Canadian subsidiary ordered to pay £5.5 billion or C$10.4 billion after a ruling in two class-action lawsuits filed by two smokers groups in Canada.

Elekta publ AB plunged 7.6% to 55.60 kronor after the Sweden-based radio-surgery provider reported net sales in the year ending in March increased 1% to 10.84 billion kronor from 10.69 billion kronor in a year ago period.

Net income in the year tumbled 51.5% from a year ago to 558 million kronor compared to 1.15 billion kronor and diluted earnings per share declined to 1.45 kronor from 3 kronor.

The company said decline in profit was mainly due to heavy decline in order book during the last quarter and even during the year from America, Europe and facing small loss from Asia Pacific regions.

The company forecasted negative growth in net sales to continue during the first-half of the next fiscal year but estimated positive growth during the second-half for the year.

First Derivatives Plc climbed 5.6% to 1,296 pence after the U.K.-based software and consulting services provider reported revenues in the year ending in February soared 19% to £83.2 million from £69.9 million in a year ago period.

Profit in the year surged 120% from a year ago to £15.9 million compared to £6.4 million and diluted earnings per share climbed to 70.6 pence from 29.7 pence.

Porvair Plc gained 1.6% to 339.75 pence after the U.K.-based filtration and separation equipment maker said underlying revenues in the first-half ending in May will be ahead of market expectation and interim profit also will be more than the reported in fiscal 2014.

Net cash at May, will be £7 million higher than the last year.

Wolseley Plc jumped 1.9% to 4,094.23 pence after the U.K.-based building materials provider reported revenues in the third-quarter climbed 16.6% to £3.30 billion from £2.83 billion in a year ago period.

Profit in the quarter soared 29.1% from a year ago to £195 million compared to £151 million.

The company said net debt in the quarter jumped to £1.13 billion from £914 million a year ago period and edged down from £1.22 billion in second-quarter.

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