The Week Ahead: Asos will be in the spotlight on Wednesday
Monday 31 March 2014
Asos will be in the spotlight on Wednesday, hoping to rebound from its weak second-quarter numbers.
The online fashion retailer reports first-half results mid-week, with investors looking for assurance that UK trading is recovering and China is still a viable prospect.
Simon French at Panmure Gordon says: “Management guidance is for around 30 per cent of full-year profit to be generated in the first half and we therefore forecast £19.5m pre-tax profit, compared to £25.7m in the prior year.”
Before then, the technology group Quindell will kick off the week with its finals on Monday. City consensus is pre-tax profits will have more than doubled to £125m.
The City stalwarts Icap and Aberdeen Asset Management both give trading updates on Tuesday. Both have been under pressure, with a reduction in trading by banks hitting Icap and concerns over emerging markets hurting Aberdeen. Sheridan Admans at The Share Centre gives both a hold rating.
Mid-week will see Domino’s Pizza serve up trading guidance. Numis predicts a strong update, driven by “improving consumer confidence in the UK (still an immature market), improving product range, increased marketing/advertising scale and successful bundle sales.”
Investors will be looking for some reassurance from Office2Office on Wednesday. The office supplies group, which is delivering final numbers, is facing a shareholder rebellion from its third biggest investor, the American money manager Nicholas D Gerber.
Thursday brings a third-quarter trading update from the home furnishings retailer Dunelm. Last time we heard from it, like-for-like sales had fallen despite its first TV campaign.
The sugar giant Tate & Lyle also reports on trading on Thursday. Numis is expecting “no surprises” after the company’s calamitous last statement in February. Tate & Lyle warned that it would miss City expectations with its full-year numbers and was instead aiming for flat profits around £329m.
The budget airlines Aer Lingus and easyJet will both serve up traffic numbers for March on Friday.
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