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Market Update

PUMA Lifts Fiscal Outlook, WH Smith Profit Eases


Author: Sarla Buch
ticker.com
Last Update: 1:18 PM EDT April 12 2018

4:00 PM Frankfurt Gerresheimer profit surged but revenue forecast disappointed traders. Man Group plans to buy back as much as $100 million of stocks. PUMA jumped on improved forecast. WH Smith profit eased.

In London trading, FTSE 100 index edged down 5.2 to 7,252.06 and in Frankfurt the DAX index jumped 114.97 or 0.9% to 12,408.74.

In Paris, CAC 40 index increased 24.97 or 0.5% to 5,302.47.

Gerresheimer AG declined 4.2% to 64.25 after Germany-based packaging products maker said revenues in the first-quarter ending in February rose 0.4% from a year ago to 299.2 million.

Net profit in the quarter surged to 49.2 million from 13.3 million in a year ago period and diluted earnings per share jumped to 1.55 from 0.41.

Gerresheimer forecasted fiscal 2018 revenues growth to jump 40% to 1.4 billion and operating profit in the range of 305 million to 315 million.

Man Group Plc soared 7.4% to 188.52 pence after the U.K.-based investment manager said as of first-quarter ending in March assets under management advanced 3.3% to $112.7 billion from a year ago and net inflows in the quarter was about $4.8 billion.

PUMA SE jumped 5.2% to 431.50 after Germany-based athletic, casual footwear
apparels and accessories maker reported revenues in the first-quarter ending in March surged 21% from a year ago to 1.1 billion and operating profit soared 60% 112 million from 70 million in a year ago period

The footwear, apparel and accessories maker lifted fiscal 2018 revenues growth forecast to between 10% and 12% from the earlier estimate of 10% and operating profit in the range of 310 million to 330 million from the earlier estimate of 305 million and 325 million.

WH Smith Plc, the U.K.-based gift and stationery products retailer said group revenues in the first-half ending in February were flat from a year ago to 643 million.

Net profit in the period fell 2.9% to 67 million from 69 million in a year ago period and diluted earnings per share slid to 60.9 pence from 61.6 pence.

The retailer said travel segment delivered strong trading profit and jumped 5% to 41 million but retail segment profit declined 6% to 50 million from a year ago period.

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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