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Market Update

Europe Earnings: Ceres Power, Poundland, Unilever, Vestas Wind, Wolseley

Author: Nigel Thomas
Last Update: 11:27 AM ET October 01 2013

4:00 PM Frankfurt Ceres Power Loss in the year narrowed. Poundland profit surged 59%. Pure Wafer operating profit for the year surged. Unilever dropped after consumer products maker estimated third quarter sales growth not to exceed 3.5%. Wolseley annual profit surged to 305 million.

In London trading, FTSE 100 index fell 0.4% or 22.89 to 6,439 and in Frankfurt the DAX index rose 0.4% or 33.02 to 8,627.

In Paris, CAC 40 index increased 0.6% or 23.88 to 4,167.

Ceres Power Holdings Plc plummeted 6% to 8.93 pence after the UK based decentralized energy products developer reported revenue in the year ending in June surged 131% to 523,000 from 226,000 a year ago.

Loss in the year narrowed to 11.4 million compared to 14.9 million and loss per share dropped 3.88 pence from 17.28 pence a year ago period.

Poundland Limited, the UK based private single-price retailer reported total sales in the year ending in March soared 15% to 880 million compared to 765 million a year ago period.

Profit for the year surged 59% to 17 million compared to 10.7 million a year earlier.

The retailer said gross profit for the year climbed 14.6% to 323.4 million and underlying operating income jumped 15.6% to 45.4 million.

Pure Wafer Plc declined 5.9% to 8.59 pence after the UK based integrated circuits maker said group revenue in the year ending in June grew 3.3% to $37 million from $38.5 million and operating profit surged $3.1 million compared to $0.5 million a year ago.

Unilever Plc] declined 4% to 2,342.82 pence after the U.K. based consumer goods maker estimated underlying sales growth in the range of 3% to 3.5% in the quarter.

Vestas Wind Systems A/S surged 5.5% to 146.80 kronor and the wind power turbine maker received an order from Fingano S.A. for the Carape wind power plant to delivery in the second quarter of 2014 and the company expects to be debt free by 2015.

Wolseley Plc jumped 2.8% to 3,287 pence after the U.K. based plumbing and heating products distributor reported total revenue in the year ending in July slid 1.5% to 13.2 billion from 13.4 billion a year ago.

Profit for the year surged more than four-fold to 305 million compared to 57 million and diluted earnings per share soared to 105.2 pence from 21 pence a year earlier.

The distributor said revenue of the ongoing businesses in the year climbed 4.1% and comparable growth of 2.9% from a year ago. Operating income soared 10.7% to 725 million.

The group proposes capital return of 300 million through a special dividend and share buyback.

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