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Market Update

Europe Earnings: Asos, Deutsche Post, Domino’s, GSK, Marks and Spencer

Author: Nigel Thomas
Last Update: 6:50 AM ET April 02 2014

4:00 PM Frankfurt – Asos net declined 21% but revenue surged 34%. Deutsche Post lifted its earnings outlook. Domino''s Pizza Group March sales climbed 15% to £189 million and sales through online platforms surged 25%. Marks and Spencer plans to open 250 new stores outside the UK.

In London trading, FTSE 100 index increased 0.3% or 17.66 to 6,670.47 and in Frankfurt the DAX index rose 0.3% or 24.58 to 9,628.29.

In Paris, CAC 40 index gained 0.2% or 10.53 to 4,437.25.

Asos Plc rose 0.3% to 5,172.28 pence after the U.K.-based apparel and accessories retailer reported group revenue in the first-half ending in February surged 34% to £481.7 million from £359.7 million a year ago.

Profit in the period declined 21% to £15.3 million compared to £19.4 million and diluted earnings per share decreased 21% to 18.5 pence from 23.3 pence a year earlier.

Deutsche Post AG climbed 4.5% to €28.42 after the Germany-based logistics services provider estimated earnings growth of above 8% per year on average based on the 2013 earnings before interest and taxes of €2.86 billion. In 2015 EBIT targeted between €3.35 billion and €3.55 billion and remains unchanged.

The logistics company said earnings before interest and taxes will rise to as much as €5.22 billion or $7.2 billion by 2020.

Domino''s Pizza Group Plc fell 0.5% to 554.50 pence after the U.K. based pizza delivery company said system sales in the first-quarter ending in March climbed 14.8% to £188.5 million compared to £164.1 million a year ago.

The pizza delivery company has set a target of 40 to 50 new stores in 2014 as on strong demand for franchisee for new stores.

Domino’s added online sales surged 25% to £103 million from £82.4 million a year earlier. Sales through mobile devices were 34% compared to 25.2% a year ago.

GlaxoSmithKline Plc slid 0.6% to 1,583.84 pence after the U.K.-based healthcare company stopped late-stage trial of MAGE-A3 cancer vaccine and failed to meet the first or second co-primary stage.

Marks and Spencer Group Plc jumped 2.4% to 471 pence after the U.K.-based specialty retailer plans to open 250 new stores outside the UK in next three years as a part of global expansion.

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