Yahoo Finance The week ahead in business and finance
Monday March 27
Full-year results:Eleco, Bank of Cyprus Holdings, Inspired Energy, X5 Retail Group
Interim results: You Gov
Trading update: Toople
Economics: GfK consumer climate (GER), private loans y/y (EU), M3 money supply y/y (EU)
Tuesday March 28
In its maiden full-year results as a newly merged group, British bookmaker Ladbrokes Coral is expected to post earnings before interest and tax in the range of £275m-£285m despite reporting poor sporting results in December. In January, the mid-cap company said fourth quarter revenues across its digital platforms continued to grow. In the three months to December 31 last year, Ladbrokes.com's revenue increased by 17pc compared to the previous year, while Coral.co.uk was up 13pc over the same period.
Although the full-year results may be complicated by investors needing to absorb the new reporting structure, Ivor Jones, of Peel Hunt, said: “We expect the tone to be very positive in relation to trading as the Cheltenham Festival was strong for bookmakers year over year.” Investors will also be keen to hear management’s detailed thoughts on the opportunities for the merged group.
Full-year results:Ladbrokes Coral Group, Card Factory, Ergomed, Instem, LiDCO Group, Ebiquity, Cloudcall Group, Silence Therapeutics, Yu Group, AA, Barr (AG), Gulf Marine Services, Personal Group Holdings, Quarto Group, Clarke (T), Hostelworld, Time Out Group, S&U
Interim results: Inland Homes, Moss Bros Group, Wolseley, Artilium,
Trading update: United Utilities, Thomas Cook, Carnival, IHS Markit
AGM: Chenavari Capital Solutions
Economics: Preliminary wholesale inventories m/m (US), goods trade balance (US), Richmond manufacturing index (US), CB consumer confidence (US)
Wednesday March 29
Investors hope British transport company Stagecoach will provide an update on its attempt to retain control of the East Midlands rail franchise when it publishes its third quarter results. Although the London-listed group has held the franchise since 2007, earlier this month it said the contract would be contested as part of a timetabled government tender process. The new franchise is due to start next year.
The group, which runs bus and train services in Britain, is also expected to leave its annual earnings outlook unchanged after doing so when it published its half-year results in December. At the time, the group said it planned to lift its dividend to reflect its confidence in the business, despite reporting a 7.4pc fall in profits in its UK bus division.
Full-year results: Johnston Press, Jackpotjoy, Saga, Cambridge Cognition Holdings, Alliance Pharma, Centaur Media, Faron Pharmaceuticals, Gresham House
Interim results: James Halstead, Allergy Therapeutics, Transense Technologies, Game Digital
Trading update: Stagecoach Group
AGM: Angus Energy
Economics: Mortgage approvals (UK), net lending to individuals m/m (UK), M4 money supply m/m (UK), pending home sales (US)
Thursday March 30
Meat-packing company Hilton Food will report that full-year results are slightly ahead of the board’s expectations, thanks to favourable foreign exchange rate moves and its expanded contract with Tesco. The group should also enjoy a boost from growth in its Australian division and additional business with Woolworths. Full-year sales are forecast to rise from £1.09bn in 2015 to £1.20bn, while expectations point to adjusted pre-tax profits of £27.9m, compared to £33m in the previous year.
Charles Hall, of Peel Hunt, says the company’s new contracts point to 50pc profit growth over the next five years. In its pre-close trading statement, Hilton Food said its outlook for this year remains positive, with growth prospects underpinned by confirmed expansion plans in Portugal and Queensland, Australia.
Full-year results: Anglo Pacific Group, Booker Group, SciSys, Amryt Pharma, Genel Energy, Tribal Group, Hilton Food Group, Polypipe Group
Interim results: DFS Furniture
Trading update: Booker Group, RPC Group, CMC Markets
AGM: Milestone Group, Cathay International Holdings
Economics: GfK consumer confidence (UK), nationwide HPI m/m (UK), unemployment claims (US), final GDP q/q (US), import prices m/m (GER)
Friday March 31
CVS, Britain’s largest provider of veterinary services for small companion animals, horses and livestock, is forecast to post half-year earnings before interest, tax, depreciation and amortisation of £19.6m, up from £15.2m in the previous year. In September last year, the Aim-listed group, which was founded in 1999, reported full-year revenue growth of 30.4pc to £218.1m and announced a final dividend of 3.5p per share. In December, CVS raised £30m, and investors will be keen to find out where the funds will be put to work.
Ahead of the interim results, Charles Hall, of Peel Hunt, noted that consolidation within the industry is accelerating, following the acquisitions of IVC by PE and VCA by Mars. He said: “Acquisition prices for practices are continuing to increase, but still represent excellent value given the synergies available.”
Full-year results: Starcom, Arria, Management Resource Solutions, Chesnara, IPSA Group, Cloudcall Group
Interim results: Pantheon Resources, Touchstone Innovations, CVS Group
AGM: Santander UK
Economics: Revised business investment q/q (UK), index of services 3m/3m (UK), final GDP q/q (UK), current account (UK), personal income m/m (US), Core PCE price index m/m (US), personal spending m/m (US), Chicago PMI (US), revised UoM consumer sentiment (US), revised UoM inflation expectations (US), retail sales m/m (GER), unemployment change (GER), CPI flash estimate y/y (EU), unemployment rate (EU), PPI m/m (EU)
