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Market Update

Just Eat, Prudential Net Advance; Ladbrokes Net Plunges


Author: Nigel Thomas
ticker.com
Last Update: 11:16 AM ET August 12 2014

4:00 PM Frankfurt BAE Systems secured a contract worth 348 million from the U.K. government. Just Eat profit surged after revenue climbed 58% to 70 million. Ladbrokes profit plunged 50% to 24 million. Serco net swung to a loss to 6 million. Prudential profit soared 215% to 1.2 billion.

In London trading, FTSE 100 index fell 0.1% or 7.86 to 6,624.96 and in Frankfurt the DAX index dropped 0.6% or 57.63 to 9,123.11.

In Paris, CAC 40 index slipped 0.6% or 23.51 to 4,174.19.

BAE Systems Plc gained 0.6% to 431.10 pence after the U.K.-based defense, aerospace and security services provider secured a contract worth 348 million from the U.K. government to build three Offshore Patrol Vessels.

Just Eat Plc surged 9.4% to 240.25 pence after the U.K.-based food services provider said revenue in the first-half ending in June climbed 58% to 69.8 million from 44.1 million a year ago period.

Profit in the period surged from a year ago to 6.1 million compared to 2.1 million and diluted earnings per share jumped to 1.1 pence from 0.4 pence.

Ladbrokes Plc slipped 0.5% to 129.90 pence after the U.K.-based betting and gaming company said group revenue in the first-half ending in June jumped 4% to 589.3 million from 566.5 million a year ago period.

Profit in the period plunged 49.8% from a year ago to 23.7 million compared to 47.2 million and diluted earnings per share declined to 2.6 pence from 5.1 pence.

Serco Group Plc jumped 2.1% to 335.70 pence after the U.K.-based outsourcing service provider reported revenue in the first-half ending in June dropped 4.5% to 2.02 billion from 2.11 billion a year ago period.

Net in the period swung to a loss from a year ago to 6.4 million compared to profit of 84.2 million and diluted loss per share swung to a 1.27 pence from earnings of 17.18 pence.

Prudential Plc gained 1.3% to 1,357.05 pence after the U.K.-based insurer reported total revenue in the first-half ending in June 30.6 billion from 22.4 billion a year ago period.

Profit in the period soared 215% from a year ago to 1.15 billion compared to 365 million and diluted earnings per share climbed to 44.9 pence from 14.3 pence.

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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