The Week Ahead: Analyst wheys up Dairy Crest profits

 

Today

Feeling peckish? Or a bit parched? Well your appetite might be sated today with updates from fizzy-drinks firm AG Barr, cheese to milkshake company Dairy Crest and cake maker Finsbury Food. Peel Hunt’s Charles Hall smacked his lips at Dairy Crest’s cheese operations when he visited it recently which he says gave him “insight into the £40m investment in whey and the cheese operations”.

He thinks profits from whey could provide material upside to group earnings and he expects to hear more about that today at  the company’s investor day. Mr Hall increased his target price to 600p “to reflect the opportunity in whey” ahead of today’s update. But Charles Pick at Numis is less keen because he is concerned about margins, tough trading and Dairy Crests’s debt levels that will rise with investment.

Results/Updates: AG Barr, Aberdeen Asset Management, Dairy Crest, Finsbury Food, Haynes Publishing.

Tomorrow

The gold price shot up again last week but not enough to make a difference to pawn brokers like Albemarle & Bond which will report tomorrow. It issued a profit warning in April and analysts expect the company  will have come under further pressure. Numis’s Andrew Wade thinks it is “suffering from a fundamental shift in the supply/demand equilibrium across the industry” because of too many shops, fewer items of gold in circulation and less purchases as well as a fall in the gold price since its height. It is likely the full-year profit could be around £8.8m, but  Mr Wade is concerned that for the full year 2014 it could end up just breaking even which would “leave the business little headroom on its net debt covenants”.

Results/Updates: Augean, Albemarle & Bond, Close Brothers, Cupid, CVS, Dolphin Capital, Euromoney Institutional Investor, Hargreaves Services, Netcall, ReThink.

Wednesday

From food to pawn brokers and now to fake tan and soap. PZ Cussons – owner of St Tropez and Imperial Leather – will update on trading, and although it is still experiencing problems in Africa that may flare up again, analysts expect it to report continued profit improvement. Analysts also expect good things from its acquisition of baby-food brand Rafferty’s Garden. In addition, the brand has been investing in its beauty division such as its Sanctuary Spa products, advertised by dancer Darcey Bussell.

Results/Updates: Acta, Animalcare, Avingtrans, Clinigen, Daily Mail & General Trust, Havelock Europa, Instem, Iofina, Nationwide Accident Repair Services, Origin Enterprises, PZ Cussons, S&U.

Thursday

Time for a bit of holiday planning on Thursday. Both Thomson owner Tui Travel and Thomas Cook will produce trading updates with most analysts expecting them to meet forecasts. Things haven’t run smoothly for either of the groups as civil unrest in Turkey and Egypt have been concerns. Analysts at Jefferies and Panmure Gordon both prefer Thomas Cook over Tui because Tui has “less self-help opportunities”. They think Thomas Cook is making headway on its cost-cutting plan. Consensus forecasts for Thomas Cook’s earnings for 2013 are £560m while Tui’s is around £544m.

Results/Updates: Compass, Faroe Petroleum, Inditherm, Indigovision, Tui Travel, Thomas Cook.

Friday

The end of the week is pretty quiet with just a handful of companies reporting. Brokerage Icap unveils a trading update on Friday and there are rumours that a fine is coming this week after an investigation into its alleged role in the Libor-rigging scandal by US and British regulators. Whether or not that happens, analysts will pour over the company’s  trading update. It recently reported August electronic figures which were somewhat below the May, June and July’s growth rates. However, analysts expect Icap’s update to be broadly in line with expectations. Analysts at Bank of America Merrill Lynch think that the broker will be hit by changes in legislation which are to be introduced next month. Alterations in US rules on swap-execution facilities, due to come into effect on 2 October, will have a wider scope than first expected which will create risks for Icap, Bank of America says.

Results/Updates: Harvey Nash, Filtronic, Icap, Produce Investments.

Suggested Topics
Start your day with The Independent, sign up for daily news emails
Voices
Barn owls are among species that could be affected
charity appeal
News
Sarah Silverman (middle) with sister Reform Rabbi Susan Silverman (right) and sister actress Laura Silverman (left) at Jerusalem's Western Wall for feminist Hanuka candle-lighting ceremony
peopleControversial comedian stages pro-equality Hanukkah lighting during a protest at Jerusalem's Wailing Wall
Arts and Entertainment
The Bach Choir has been crowned the inaugural winner of Sky Arts’ show The Great Culture Quiz
arts + ents140-year-old choir declared winner of Sky Arts' 'The Great Culture Quiz'
Sport
After another poor series in Sri Lanka, Alastair Cook claimed all players go through a lean period
cricketEoin Morgan reportedly to take over ODI captaincy
PROMOTED VIDEO
ebooks
ebooksA year of political gossip, levity and intrigue from the sharpest pen in Westminster
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Carlton Senior Appointments: Private Banking Manager - Intl Bank - Los Angeles

$200 - $350 per annum: Carlton Senior Appointments: Managing Producer – Office...

Carlton Senior Appointments: San Fran - Investment Advisor – Ind Advisory Firm

$125 - $225 per annum: Carlton Senior Appointments: San Fran - Investment Advi...

Sheridan Maine: Commercial Finance Manager

Up to £70,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...

Sheridan Maine: Regulatory Reporting Accountant

Up to £65,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...

Day In a Page

Homeless Veterans appeal: 'You look for someone who's an inspiration and try to be like them'

Homeless Veterans appeal

In 2010, Sgt Gary Jamieson stepped on an IED in Afghanistan and lost his legs and an arm. He reveals what, and who, helped him to make a remarkable recovery
Could cannabis oil reverse the effects of cancer?

Could cannabis oil reverse effects of cancer?

As a film following six patients receiving the controversial treatment is released, Kate Hilpern uncovers a very slippery issue
The Interview movie review: You can't see Seth Rogen and James Franco's Kim Jong Un assassination film, but you can read about it here

The Interview movie review

You can't see Seth Rogen and James Franco's Kim Jong Un assassination film, but you can read about it here
Serial mania has propelled podcasts into the cultural mainstream

How podcasts became mainstream

People have consumed gripping armchair investigation Serial with a relish typically reserved for box-set binges
Jesus Christ has become an unlikely pin-up for hipster marketing companies

Jesus Christ has become an unlikely pin-up

Kevin Lee Light, aka "Jesus", is the newest client of creative agency Mother while rival agency Anomaly has launched Sexy Jesus, depicting the Messiah in a series of Athena-style poses
Rosetta space mission voted most important scientific breakthrough of 2014

A memorable year for science – if not for mice

The most important scientific breakthroughs of 2014
Christmas cocktails to make you merry: From eggnog to Brown Betty and Rum Bumpo

Christmas cocktails to make you merry

Mulled wine is an essential seasonal treat. But now drinkers are rediscovering other traditional festive tipples. Angela Clutton raises a glass to Christmas cocktails
5 best activity trackers

Fitness technology: 5 best activity trackers

Up the ante in your regimen and change the habits of a lifetime with this wearable tech
Paul Scholes column: It's a little-known fact, but I have played one of the seven dwarves

Paul Scholes column

It's a little-known fact, but I have played one of the seven dwarves
Fifa's travelling circus once again steals limelight from real stars

Fifa's travelling circus once again steals limelight from real stars

Club World Cup kicked into the long grass by the continued farce surrounding Blatter, Garcia, Russia and Qatar
Frank Warren column: 2014 – boxing is back and winning new fans

Frank Warren: Boxing is back and winning new fans

2014 proves it's now one of sport's biggest hitters again
Jeb Bush vs Hillary Clinton: The power dynamics of the two first families

Jeb Bush vs Hillary Clinton

Karen Tumulty explores the power dynamics of the two first families
Stockholm is rivalling Silicon Valley with a hotbed of technology start-ups

Stockholm is rivalling Silicon Valley

The Swedish capital is home to two of the most popular video games in the world, as well as thousands of technology start-ups worth hundreds of millions of pounds – and it's all happened since 2009
Did Japanese workers really get their symbols mixed up and display Santa on a crucifix?

Crucified Santa: Urban myth refuses to die

The story goes that Japanese store workers created a life-size effigy of a smiling "Father Kurisumasu" attached to a facsimile of Our Lord's final instrument of torture
Jennifer Saunders and Kate Moss join David Walliams on set for TV adaptation of The Boy in the Dress

The Boy in the Dress: On set with the stars

Walliams' story about a boy who goes to school in a dress will be shown this Christmas