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Caribbean Global Market Update

Bpost Plunges on Weaker Profit Outlook, Rheinmetall Net Surges 50%

Author: Sarla Buch
Islandjournal.net
Last Update: 9:33 AM EST December 04 2018


4:00 PM Frankfurt Bpost plunged 21% after the delivery service company estimated profit at the lower end of outlook. Elior said annual are expected to be in-line with estimate. IG Group lowered revenues forecast. Rheinmetall profit surged 50%. Victrex reported strong annual results.

In London trading, FTSE 100 index decreased 28.73 or 0.4% to 7,034.35 and in Frankfurt the DAX index slumped 69.78 or 0.6% to 11,395.68.

In Paris, CAC 40 index slipped 23.12 or 0.5% to 5,030.82.

Bpost SA plunged 21% to 8.95 after Belgium-based postal and parcel services provider forecasted fiscal 2018 operating profit at the low end of the 560 million to 600 million range and declared interim dividend of 1.06 per share.

Elior Group SA declined 7.1% to 11.99 after the France-based commercial catering and food service provider reported revenues in the year ending in September jumped 4.2% from a year ago to 6.7 billion.

Net profit in the period tumbled 80% to 34 million from 114 million in a year ago period and diluted earnings per share slumped to 0.84 from 1.02.

IG Group Plc plunged 7.8% to 561 pence after the U.K.-based online trading services provider lowered revenue growth forecast in the first-half ending in May 2019 of about 6% from a year ago period.

The online trader said new OTC clients trading for the first time declined to 14,600 from 18,027 in the same period a year ago as a result revenue from the U.K. and Europe is estimated to drop 20%, offset by 9% jump in revenue from Asia-Pacific.

Ryanair Holdings Plc slipped 1.3% to 11.48 after Ireland-based low-cost airliner said total traffic in November jumped 11% to 10.4 million from a year ago month driven by lower fares and the successful launch of winter schedules.

Load factor in the month was flat at 96% from a year ago month.

The airline operated more than 56,000 scheduled flights in November with 88% of its flights arriving on time.

Rheinmetall AG declined 3.8% to 84.04 after Germany-based defense contractor reported revenues in the nine-month period ending in September slid 0.2% from a year ago to 4.16 billion.

Net profit in the period surged 49.5% to 154 million from 103 million in a year ago period and diluted earnings per share advanced to 3.59 from 2.40.

The defense contractor forecasted fiscal 2018 revenues to increase 5% from 5.9 billion in a year ago period.

However, Rheinmetall lowered sales growth forecast in automotive business to between 2% to 3% from the earlier estimate of 3% to 4% and also lowered sales growth forecast in the defense segment to between 6% and 7% or 3.2 billion from the earlier estimate of 12% increase.

Victrex Plc fell 0.4% to 2,503 pence after the U.K.-based polymer pipes and components maker said revenues in the year ending in September soared 12% from a year ago to 326 million.

Net income in the year jumped 11.2% to 110.6 million from 99.5 million in a year ago period and diluted earnings per share increased to 128.2 pence from 116.2 pence.

The polymer supplier said group sales in the year surged 10% to 4,407 tons from 3,992 tons and gross profit jumped 13% to 208 million from a year ago period.


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