3:20 PM Frankfurt – Britvic wins merger approval with A.G. Barr. Dialight first-half revenue soared 50%. Ocado Group jumped on market rumors of a tie-up with Marks & Spencer. Prada first quarter revenue and profit climbed 14%. Remy profit for the year soared 18%.
In London trading, FTSE 100 index declined 1.6% or 100.84 to 6,300 and in Frankfurt the DAX index dropped 1.7% or 138.96 to 8,169.
In Paris, CAC 40 index plummeted 1.8% or 67.73 to 3,797.
slipped 1.7% to 492 pence after the UK based soft drinks maker said competition commission has provisionally approved the merger proposal with A.G. Barr Plc.
plunged 12.6% to 1,169.68 pence after the light emitting diodes solution provider reported lighting segment revenues in the first-half soared 50% and expects full year revenues again to exceed 50% growth.
The company said group profit in the first-half will be adversely affected by lower sales in signals unit.
Ocado Group Plc
jumped 4.1% to 324.70 pence after the media report suggested a possible tie-up with Marks & Spencer for online food delivery business.
slumped 1.3% to HK$73.25 after the Italy based leather goods and clothing revenue in the first quarter ending in April jumped 13.9% to €782.3 million from €686.7 million a year earlier. Net income in the quarter climbed 13.5% to €138.2 million from €121.7 million.
Sales in Asia Pacific soared 24.8% and in the Americas surged 23%.Market condition for sales in Europe were unchanged but sales in Japan rose 12.2%.
Revenue from the Prada brand jumped 18% and revenue from Miu Miu rose 5%, Church’s increased 2.8%.
Remy Cointreau SA
slid 0.9% to € 85.93 after the France based wines and spirits maker reported sales in the year ending in March surged 16.3% to €1.19 billion. Net profit soared 17.7% to €130.4 million compared to €110.8 million.
Rémy Martin brand sales advanced 21.5% to €719.8 million and liqueurs & spirits division sales increased 10.8% to €239.1 million. Partner brand sales grew 7.6% to €234.4 million.
Operating profit jumped 18.1% to €245.4 million and operating margin climbed 20.6%.
Separately, Rémy Cointreau signed an agreement with Nordic group, Altia, to buy Larsen Cognac.