The week ahead September 5 2011 results meetings and trading updates

Post on: 2011-09-05 By: admin

Morrisons' first-half results will be closely watched, not just by supermarket
analysts, but economists trying to divine how bad the economy is in the
crucial months running up to Christmas.So far this year, Morrisons has proved to be one of the most reliable of
performers posting better sales growth than its bigger competitors, but how
much has trading slowed in recent months?
Analysts are forecasting that Morrisons' first half like-for-like sales growth
could be anything from flat to 2.4pc. If it hits 2pc, that would be a clear
signal that not only is it taking market share, but the British shopper is
in possibly in better shape than many fear. First(OTC BB: FSTC.OB - news) -half pre-tax profit is
expected to climb from £410m to about £433m.
Morrisons has been helped by the fact that it sells a far greater proportion
of food than its rivals, which have moved increasingly into clothing and
electricals areas where consumers are cutting back on.
Also, from May 398 of its 439 stores extended their opening hours. Analysts
will want to know how much of its sales growth has been driven by these
=The week kicks off with the release of the PMI for the UK's massive services
sector, the last of the monthly round of surveys which offer a snapshot of
the economy's health. The results will be closely watched after the PMI for
manufacturing showed that the sector has gone into reverse, contracting for
the second month in a row.
The Bank of England is expected to keep interest rates at their record 0.5pc
low on Thursday, after all nine members of its Monetary Policy Committee
last month backed that course of action amid the continued barrage of
worrying economic data.
Friday then sees finance ministers and central bankers from the Group of Seven
major economic powers gathering in Marseille for a scheduled meeting. A US
Treasury spokesman this week said the delegates will "discuss the need
for a reinvigorated global effort to support growth, jobs and financial
Brady(NYSE: BRC - news) , Fyffes(Irish: FQ3.IR - news) , Goals Soccer Centres, Hydrogen Group(Berlin: J1O.BE - news) , Pennant International
Markit / CIPS services PMI
Meetings
Berkeley Group (AGM), Creston (LSE: CRE.L - news) (AGM), Quintain Estates and Development (AGM)=
Tuesday
=• Genus(Xetra: 762548 - news) , which provides bull sperm and breeding pigs to the agricultural
sector, will update the market on its full-year results. At its trading
update in July, Genus said that its markets had remained "generally
favourable" and trading had been in line with expectations. Last month,
analysts at Panmure Gordon said they were expecting annual pre-tax profit to
rise by 16.3pc to £38.3m. "We expect Genus to reiterate that it
continues to stretch the genetic superiority of its products versus its
rivals in both Bovine and Porcine," said the broker.
• The construction and office fit-out company Interior Services Group is
expected to secure a rise in annual revenues and profits despite the
uncertain British economy. Analysts are forecasting revenues will rise from
£972m to £1bn for the 12 months to June 30, with pre-tax profits rising from
£8.7m to £11.5m. The company, which has just won a contract to manage
construction of the temporary 2012 Olympic venues, said in a pre-close
trading update in July that demand from financial services clients was
boosting its fit-out business.
• Rockhopper shareholders will be happy with repeated confirmation of the
group's oil discovery off the Falkland Islands. However, they may want to
keep an eye on executive remuneration and ask questions about the political
situation now that Brazil has stopped Falklands boats docking in solidarity
with Argentina's claims on the islands.
Full-year results
Allocate Software(LSE: ALL.L - news) , City of London Investment Group, Dechra Pharmaceuticals,
Genus, Interior Services Group, McBride(LSE: MCB.L - news)
Interim results
Havelock Europa(Other OTC: HLCKF.PK - news) , Hyrdo International, Johnson Service Group, Lupus Capital(LSE: LUP.L - news) ,
Total Produce(Other OTC: TTPPF.PK - news)
Trading update
Ashtead, Betfair, DS Smith
Economics
Donald Kohn, external Financial Policy Committee (FPC) member, gives speech on
transparency and stability
Meetings
ACM Shipping Group (AGM), African Consolidated Resources (AGM), Ashtead (AGM),
Daisy (AGM), Greene King(Other OTC: GRKGF.PK - news)(AGM), Invista Foundation Property Trust (AGM),
Rockhopper Exploration (AGM), DS Smith (AGM)=
A&J Mucklow Group, Thorntons(LSE: THT.L - news)
Interim results
Alliance Pharma(LSE: APH.L - news) , Alkane Energy(Other OTC: ALKAF.PK - news) , Advanced Medical Solutions, Belgravium
Technologies, Corero Network Security, IQE(LSE: IQE.L - news) , IS Solutions(LSE: ISL.L - news) , Vindon Healthcare(LSE: VDN.L - news) ,
Williams Grand Prix Holdings
Trading update
Dixons Retail(Other OTC: DSITF.PK - news) , Supergroup(LSE: SGP.L - news) , Sports Direct International
Economics
UK industrial and manufacturing output figures; Federal Reserve issues the
Beige Book, its summary of economic conditions
Meetings
Dixons Retail (AGM), Eredene Capital(Munich: A0D9KT - news)(AGM), Workplace Systems International
=• Steve Morgan's Redrow (Xetra: 906188 - news) will post annual results this week, with analysts keen
for the house builder's prediction for the autumn housing market and views
on the UK economy. Redrow last updated the market on July 1, when it sold
its Scottish business for £49m in order to focus on expanding in London and
South East. The consensus from analysts is that for the year to June 30
revenues will rise 11pc to £439m and pre-tax profits will grow from £0.7m to
Falkland Oil and Gas, Wm Morrison Supermarkets, Tikit, 32Red
Trading update
Home Retail, Premier Farnell(Other OTC: PIFLF.PK - news)
Economics
Bank of England and European Central Bank interest rate announcements, OECD
publishes Interim Economic Outlook
Meetings
Assura Group(LSE: AGR.L - news)(AGM), Aortech International (AGM), WS Atkins(Other OTC: WATKF.PK - news)(AGM), Avisen(Berlin: G7Z.BE - news)
(AGM), Carpetright (Xetra: 904879 - news) (AGM), City of London(LSE: CIN.L - news)(AGM), Dart Group(LSE: DTG.L - news)(AGM), Falkland
Island Holdings (AGM), Flybe (AGM), Hampson Industries(Other OTC: HPIDF.PK - news)(AGM)=
HMV, SThree(Berlin: S8T.BE - news)
Economics
UK producer price data, G7 finance ministers and central bank governors meet
Circle Oil(Xetra: A0DNH5 - news)(AGM), Latchways (LSE: LTC.L - news) (AGM)
More finance stories from telegraph.co.uk
Independent Inv Tst - Interim Management Statement- AFX CNF
Invest In Companies Whose Products You Love- Fool.co.uk
Motive Television - Re Contract Update- AFX CNF
Greene King PLC - re: Capital Pubs Acquisition- AFX CNF
News Corporation - SEC Form 4- AFX CNF
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