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Market Update

Europe Earnings: Bilfinger, Kewill, Prudential, Telekom Austria


Author: Nigel Thomas
ticker.com
Last Update: 10:10 AM ET August 12 2013

4:00 PM Frankfurt Bilfinger revenues flat and net declined 58% and the German construction company revised annual outlook. Prudential Plc said first-half profit plunged 59% to 365 million. Telekom Austria revenue fell but net surged 34%.

In London trading, FTSE 100 index fell 0.4% or 24.54 to 6,559 and in Frankfurt the DAX index slid 0.3% or 25.87 to 8,312.

In Paris, CAC 40 index inched lowered 0.2% or 9.04 to 4,068.

Bilfinger SE jumped 2.9% to 74.15 after the German construction company said revenue in the first-half were nearly flat at 3.99 billion from 3.97 billion. Net profit for the period declined 58% to 68 million compared to 162 million and diluted earnings per share slumped 1.54 pence from 3.87 pence a year ago.

Bilfinger anticipates strong sales, orders and earnings in the second-half and expects output volume to jump to 8.7 billion of the year.

Kewill Plc unchanged at 109.75 pence after the UK based freight and logistics software developer agreed to acquire Hyderabad, India based Four Soft Limited for $43.5 million or Rs 261 crore.

On Mumbai stock exchange, shares of the Four Soft surged 5% to Rs 19.

Prudential Plc gained 2.5% to 1,214.10 pence after the UK based insurance company reported total revenue in the first-half dropped 4.3% to 22.4 billion from 23.4 billion. Net profit for the period plunged 58.9% to 365 million compared to 887 million and diluted earnings per share declined 14.3 pence from 34.9 pence a year ago.

Telekom Austria AG, slipped 1.8% to 5.62 after the Austria based communications provider said group revenue in the first-half fell by 1.2% to 2.09 billion from 2.12 billion a year ago period. Net profit for the period surged 33.5% to 108 million compared to 80.9 million.

Group EBITDA for the first-half dropped 8.1% to 667.2 million from 726.2 million.

The Telekom Austria Group expects group revenues for the year nearly 4.1 billion were confirmed.

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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