Nutricia's Gains Boost Market
May 09, 2011
The 25-share AEX index added 4.22 to 560.41, after dropping 4.54 a day earlier. ``The market is still looking for direction and is therefore very volatile,'' said Dillon Vankirk, a trader with NIB Strating Securities. He noted that Tuesday the market found direction from program trading, led mainly by investors in Britain and Germany. The biggest advances were made by specialty food group Nutricia, which gained 9.60 guilders to 223.70. Nutricia last week announced its first half profit rose to 107.1 million guilders from 70.9 million guilders in the first half of 2010. This was largely due to an increase in turnover after the acquisition of German baby food maker Milupa AG. Trading company Hagemeyer rose 2.50 guilders to 127.50. Analysts surveyed by AP-Dow Jones News Services expect the company's May 11, 2011 to reveal a first half net profit of between 106.5 million and 109 million guilders, compared with 70.7 million guilders a year earlier. Dutch construction company Hollandsche Beton Groep gained 4.00 guilders to 310.00, despite news that its net profit declined 3.6% to 53 million guilders in the first half of 2011. The company said poor market conditions for the construction industry in the U.K. and Germany affected its results. Publisher VNU increased 40 Dutch cents to 29.10 guilders. After the bourse closed VNU said its net profit in the first half rose 143 million guilders compared to 286 million guilders a year earlier. On the local market, cable company NKF Holding said Tuesday that its net profit in the first half of 2011 rose 6.8% to 21.9 million guilders and that turnover increased 6.8% to 618.7 million guilders largely because of its Finish telecommunications operations. NKF which released its figures after the bourse closed, added 1.60 guilders to 61.20. Engineering company Heidemij moved ahead 50 Dutch cents to 17.50 guilders on news that its net profit in the first half of the year edged up 1.6% from the same period a year earlier to 12.4 million guilders, while sales increased 21.5%.
