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Market Update

Europe Earnings: Associated British Foods, Ashmore, Bumi, Hays, SuperGroup

Author: Nigel Thomas
Last Update: 11:19 AM ET July 11 2013

3:20 PM Frankfurt Associated British Foods said group revenue jumped 9%. Ashmore fourth quarter net inflows recorded $4.5 billion. Hays said net fees in the fourth quarter grew 3%. SuperGroup revenue in the year climbed 15% to 360 million and profit jumped 17%.

In London trading, FTSE 100 index rose 0.6% or 38.05 to 6,543 and in Frankfurt the DAX index gained 0.9% or 71.46 to 8,138.

In Paris, CAC 40 index increased 0.5% or 20.82 to 3,861.

Associated British Foods Plc climbed 4.2% to 1,892 pence after the UK based grocery retailer reported group revenue year to date forty-week ending on June 22 jumped 9% and retail sales soared 22%. Sugar revenue rose 1% but revenue from the agriculture segment climbed 12%.

The grocery retailer said net debt as on June 22 was more than 250 million but lower than the half year, at 1.1billion.

Ashmore Group Plc surged 6.9% to 375.80 pence after the UK based investment manager said assets under management in the fourth quarter ending in June unchanged at $77.4 billion and net inflows of $4.5 billion.

Bumi Plc, the UK based privately held coal producer said in a press release that its chairman of the board Samin Tan agreed to buy stake of 23.8% in Indonesia based Bakrie family managed Ravenwood Pte Ltd.

The arrangement finalized entails the Bakrie Group purchasing the company''s interest in Bumi Resources for above $500 million in cash.

Hays Plc jumped 5.3% to 100.80 pence after the UK based recruitment group said net fees in the fourth quarter ending in June grew 3% and net fees from Asia Pacific region declined 13%. Net fees from United Kingdom & Ireland climbed 7%.

The Hays expects full-year operating profit in the range of 112.3 million to 125.5 million.

SuperGroup Plc soared 4.7% to 847.25 after the UK based clothing and accessory retailer said group revenue in the year ending on April 28 climbed 14.9% to 360.4 million from 313.8 million a year earlier. Net income for the year jumped 17.3% to 37.9 million compared to 32.3 million and diluted earnings per share slid 44.3 pence from 44.7 pence a year ago.

The retailer said, profit before income tax for the year rose 0.8% to 51.8 million and like-for-like retail sales increased 5.7%. E-commerce sales surged 27.8% and contribute 11.2% of Group revenue.

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