Allianz 3 Profit Rises

Financial services company Allianz Group (AZSEY.PK) Friday reported that its third-quarter net income attributable to shareholders increased to 1.94 billion euros from 1.57 billion euros last year.

Earnings per share were 4.54 euros, higher than 3.52 euros a year ago.

Operating profit grew 20.6 percent to 2.99 billion euros from prior year’s 2.48 billion euros, mostly driven by our Property-Casualty business, which experienced lower claims from natural catastrophes, a better underlying claims development and a decreased expense ratio, as well as strong premium growth.

Total revenues increased 7.9 percent to 30.5 billion euros from last year’s 28.3billion euros. Internal revenue growth, which adjusts for currency and consolidation effects, amounted to 9.8 percent and was supported by all business segments.

Looking ahead, the company said it is confident to reach targets also for this year.

ITV 9-month Total Revenue Up 5%

ITV Plc (ITV.L) said Wednesday that total revenue for the nine months ended 30 September 2018 rose 5 percent from the year-ago period and the company’s overall performance for the period was in line with its expectations.

For the nine months ended 30 September 2018, ITV’s total revenue grew 5 percent to 2.62 billion pounds from 2.49 billion pounds in the year-ago period. Total external revenue rose 6 percent from last year to 2.26 billion pounds, with continued growth across all parts of the business.

While Broadcast & Online revenues increased 2 percent to 1.51 billion pounds, ITV Studios revenues rose 10 percent to 1.11 billion pounds. ITV Studios organic revenue increased 7 percent.

Looking ahead to the full year 2018, ITV said it expects to deliver good growth in total ITV Studios revenues and profit in line with its expectations. Organic revenue growth for ITV Studios is expected to be around 3 percent over the full year.

However, ITV added it is seeing some softening in ITV Family NAR in the fourth quarter due to the increasingly uncertain economic environment. As a result, it expects total advertising revenue to be down around 3 percent in the fourth quarter and broadly flat over the full year.

Marks & Spencer, Trading Conditions Challenging

Retailer Marks & Spencer Group Plc (MAKSY.PK, MAKSF.PK, MKS.L) reported Wednesday that its first-half profit before tax increased 7.1 percent to 126.7 million pounds from 118.3 million pounds last year.

Profit after tax was 89.8 million pounds, up 6.1 percent from 84.6 million pounds a year ago. Basic earnings per share were 5.4 pence, up 3.8 percent from 5.2 pence last year.

Adjusted profit before tax was 223.5 million pounds, compared to 219.1 million pounds a year earlier. Basic adjusted earnings per share were 10.6 pence, compared to 10.7 pence last year.

Group revenue dropped 3.1 percent to 4.97 billion pounds from 5.13 billion euros a year ago.

Clothing & Home revenue was down 2.7% impacted by store closures, with like-for-like sales down 1.1%. Online Clothing sales growth was ahead of market.

Food revenue was down 0.2% with like-for-like revenue down 2.9% reflecting tough trading.

Looking ahead, for fiscal 2019, the company said trading conditions remain challenging and the headwinds from the growth of online competition and the march of the discounters remain strong in all markets.

In Clothing & Home, the company now expects a space reduction of c.4% as at year end, compared to previously expected 5%.