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Market Update

Europe Earnings: Ashtead, Consort Medical, Whitbread, Xaar

Author: Nigel Thomas
Last Update: 11:09 AM ET June 17 2014

4:00 PM Frankfurt Ashtead Group profit jumped 68% to 231 million on 24% increase in revenues. Consort Medical net plunged 47% to 13 million. Whitbread jumped after sales surged 14.6% to 323 million. Xaar lowered revenue outlook and gross profit margin.

In London trading, FTSE 100 index inched up 0.07% or 4.90 to 6,759.54 and in Frankfurt the DAX index rose 0.4% to 9,922.60.

In Paris, CAC 40 index gained 0.5% or 22.65 to 4,532.70.

Ashtead Group Plc declined 5.4% to 839.50 pence after the U.K.-based investment company reported revenue in the year ending in April climbed 24% to 1.63 billion from 1.36 billion a year ago.

Profit in the year jumped 67.8% to 231.2 million compared to 137.8 million and earnings per share increased to 45.8 pence from 27.1 pence a year earlier.

Consort Medical Plc slid 0.6% to 875 pence after the U.K.-based healthcare company stated revenue in the year ending in April jumped 5.2% to 100 million from 95 million a year ago.

Profit in the year plunged 46.7% to 12.9 million compared to 24.2 million and diluted earnings per share rose to 46.2 pence from 36.8 pence a year earlier.

Whitbread Plc jumped 2.3% to 4,262 pence after the U.K.-based coffee shop, hotels and restaurants operator reported total sales in the first-quarter ending on May 29 climbed 12.7% and same-store sales in the quarter jumped 6.9%.

The company said worldwide system sales surged 14.6% to 323 million and franchise system sales climbed 13.1% to 126.5 million.

The hotelier said total sales in Premier Inn, including UK & International jumped 14.2% and total revenue per available room soared 8.8% and total occupancy rose by 4.2 percentage points to 80.7% from a year ago.

In the year, the company plans to open 300 net new stores and 600 Costa Express units.

Xaar Plc tumbled 24.7% to 558 pence after the U.K.-based industrial inkjet print-heads supplier lowered its revenue forecast for the year to 130 million from 134.1 million a year ago and lowered gross profit margin percentage than previously anticipated for 2014.

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