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Market Update

Europe Earnings: BSkyB, Lloyds, Rolls-Royce, Shire, Serco Group


Author: Nigel Thomas
ticker.com
Last Update: 11:25 AM ET May 01 2014

4:00 PM Frankfurt Ė BSkyB net declined 15% to £623 million and itís available on Sonyís PlayStation 4 from this summer. Lloyds soared despite profit tumbled 25% to £1.2 billion and revenue declined 7%. Rolls-Royce expected revenue and profit for the year to be flat. Shire net surged to $230 million.

In London trading, FTSE 100 index gained 0.3% or 23.65 to 6,803.68 and in Frankfurt the DAX index rose 0.2% or 19.11 to 9,603.23.

In Paris, CAC 40 index fell 0.2% or 10.29 to 4,487.39.

British Sky Broadcasting Group Plc climbed 2.8% to 904.50 pence after the U.K.-based pay-TV broadcaster reported revenue in the third-quarter jumped 5.4% to £5.67 billion from £5.38 a year ago.

Profit for the period declined 15.3% to £623 million compared to £736 million and diluted earnings per share slipped to 39.5 pence from 44.9 pence a year earlier.

The broadcaster said in the quarter it added 764,000 new paid for subscription and added 74,000 net new TV customers, more than double from a year ago period.

Lloyds Banking Group Plc soared 5.2% to 79.26 pence after the U.K.-based financial services provider said total revenue in the first-quarter ending in March declined 7% to £4.53 billion from £4.89 a year ago.

Profit for the period tumbled 24.7% to £1.16 billion compared to £1.54 billion and diluted earnings per share dropped to 1.6 pence from 2.2 pence a year earlier.

Rolls-Royce Holdings Plc slipped 1.7% to 1,031.80 pence after the U.K.-based power systems provider expect revenue and profit for the full year to be flat with free cash flow similar to 2013.

Shire Plc gained 1.9% to 3,443 pence after the U.K.-based biopharmaceutical company reported total revenues in the first-quarter ending in March climbed 18% to $1.35 billion from $1.14 billion a year ago.

Net income in the quarter surged to $230.4 million compared to $64.8 million and diluted earnings per share jumped to $1.17 from 37 cents a year earlier.

Serco Group Plc slid 0.1% to 339.70 pence after the U.K.-based outsourcing services provider lowered its adjusted revenue for the year forecasted in the range of £4.7 billion to £4.9 billion at constant currency and estimated that the group revenue on a reported basis would be reduce to £0.2 billion.

The company expected adjusted operating profit for the year would be in the range of £220 million to £250 million.

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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