The Week Ahead: Icelandair hovers as easyJet faces turbulence

The cut-price airline industry is no longer enjoying the exponential growth that it once did. With ever-increasing competition, high aviation fuel costs and cuts to routes, easyJet faces a much more sceptical audience when it releases its interims tomorrow.

The cut-price airline industry is no longer enjoying the exponential growth that it once did. With ever-increasing competition, high aviation fuel costs and cuts to routes, easyJet faces a much more sceptical audience when it releases its interims tomorrow. Its rival Ryanair announced on Friday that it would introduce four new destinations, including Gatwick to Knock in Ireland as well as increasing its existing services to Cork and Shannon to counter the threat of easyJet's new Irish routes.

The market is looking for full-year pre-tax profit from easyJet of £75.4m, but investors were warned in September that yields would remain under pressure for the foreseeable future. It is likely that yields will have improved slightly, but analysts are not expecting anything exciting in tomorrow's figures.

The Williams de Broe analyst Stephen Clapham says that "our forecast for 2005 remains a stab in the dark, and that is unlikely to change with these results".

Among those watching the easyJet numbers most closely will be Icelandair, which has recently built a 10.1 per cent stake in the company.

Rumours were rife last week that it will launch a full bid for easyJet, as the chief executive of Icelandair admitted his company would need to look outside Iceland if it is to grow further. Signs of a little weakness at easyJet may provide Icelandair with an opportunity to do just that, while signs of serious problems might put it off.

MONDAY: Results: Full year - Braemar Seascope; Cambridge Antibody Technology; Cardpoint; Care UK; Fountains; Get Group; Innovation Group; Nord Anglia Education. Interims - Torotrak; UBC Media; Workspace.

TUESDAY: InterContinental Hotels has come a long way in a short period of time since demerging from Bass. In fact, so have the shares, doubling in value over the same time period. The company returned £750m to shareholders in September and sacked its chief executive, Richard North, into the bargain.

The company is in the process of selling hotels and turning itself into a franchising and management group. Most analysts expect to see a small increase in third-quarter numbers, but more interest will be taken in news of further disposals.

Results: Full year - Abacus; API; easyJet; Enodis; RM Group; SCS Upholstery. Interims - CML Microsystems; Detica Group; Great Portland Estates; GWR; Mice Group; Printing.com; Tribal Group; Trifast; Veridian. Third quarter - Acambis; InterContinental Hotels; iTouch; Signet.

WEDNESDAY: The City favourite Icap, the securities, derivatives and money broking company, reports interims, and as usual the market will be looking for a strong set of figures based on increasing activity in the equity markets.

The stock, which traded as low as 37.5p in 2000, closed on Friday at 257.75p, valuing the company at more than £1.2bn.

Icap warned in July that activity had been hit by lower activity in the bond markets, but the strong bull run which has seen the FTSE 100 rise to almost 5,000 in recent sessions should mean that the company at least meets analysts' forecasts.

Results: Full year - 2 Ergo Group; Euromoney Institutional Investor; Gladstone. Interims - Abbeycrest; Avocet Mining; Icap; Imagination Technologies; Intelek; Speedy Hire; Victoria. Third quarter - Tomkins.

THURSDAY: A detailed trading update given in September should mean few surprises from Johnson Matthey, the chemical and coatings group, which provides the market with interim results.

It is likely that high precious metal prices will have underpinned performance, which Johnson said in September would be ahead of last year in all four divisions.

However, many analysts believe the company already has much of the good news included in the price, so if there are any surprises they are likely to be nasty ones.

The market is expecting pre-tax profits to be in the range of £100 - £104m.

Results - Full year - Capital Radio; lastminute.com; Lonmin; Paragon. Interims - Accident Exchange; Babcock International; Halfords; Investec; Jarvis; Johnson Matthey; London Clubs International; London Merchant; Pillar Property; TRL Electronics; United Utilities.

FRIDAY: Results: Full year - Brewin Dolphin; Countryside Properties. Interims - Plasmon; Telecom Plus; Ten Alps Communications; Tops Estates; Workplace System.

Start your day with The Independent, sign up for daily news emails
News
The cartoon depicts the UK (far left) walking around a Syrian child refugee
newsIn an exclusive artwork for The Independent, Ali Ferzat attacks Britain's lack of 'humanity'
Life and Style
Man taking selfie in front of car
health
Sport
footballManager attacks Sky Sports pundit Jamie Redknapp after criticism of Diego Costa's apparent stamping
Life and Style
food + drink
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

Recruitment Genius: Web Developer - PHP

£16500 - £16640 per annum: Recruitment Genius: This fast growing Finance compa...

Ashdown Group: Client Services Manager - Relationship Management - London

£30000 - £32000 per annum + benefits : Ashdown Group: A highly successful, int...

Recruitment Genius: Credit Controller / Customer Service

£18000 - £20000 per annum: Recruitment Genius: This rapidly expanding business...

Guru Careers: In-House / Internal Recruiter

£25 - 28k + Bonus: Guru Careers: An In-house / Internal Recruiter is needed to...

Day In a Page

Greece elections: In times like these, the EU has far more dangerous adversaries than Syriza

Greece elections

In times like these, the EU has far more dangerous adversaries than Syriza, says Patrick Cockburn
Holocaust Memorial Day: Nazi victims remembered as spectre of prejudice reappears

Holocaust Memorial Day

Nazi victims remembered as spectre of prejudice reappears over Europe
Fortitude and the Arctic attraction: Our fascination with the last great wilderness

Magnetic north

The Arctic has always exerted a pull, from Greek myth to new thriller Fortitude. Gerard Gilbert considers what's behind our fascination with the last great wilderness
Homeless Veterans appeal: Homeless in Wales can find inspiration from Daniel’s story

Homeless Veterans appeal

Homeless in Wales can find inspiration from Daniel’s story
Front National family feud? Marine Le Pen and her relatives clash over French far-right party's response to Paris terror attacks

Front National family feud?

Marine Le Pen and her relatives clash over French far-right party's response to Paris terror attacks
Pot of gold: tasting the world’s most expensive tea

Pot of gold

Tasting the world’s most expensive tea
10 best wildlife-watching experiences: From hen harriers to porpoises

From hen harriers to porpoises: 10 best wildlife-watching experiences

While many of Britain's birds have flown south for the winter, it's still a great time to get outside for a spot of twitching
Nick Easter: 'I don’t want just to hold tackle bags, I want to be out there'

'I don’t want just to hold tackle bags, I want to be out there'

Nick Easter targeting World Cup place after England recall
DSK, Dodo the Pimp, and the Carlton Hotel

The inside track on France's trial of the year

Dominique Strauss-Kahn, Dodo the Pimp, and the Carlton Hotel:
As provocative now as they ever were

Sarah Kane season

Why her plays are as provocative now as when they were written
Murder of Japanese hostage has grim echoes of a killing in Iraq 11 years ago

Murder of Japanese hostage has grim echoes of another killing

Japanese mood was against what was seen as irresponsible trips to a vicious war zone
Syria crisis: Celebrities call on David Cameron to take more refugees as one young mother tells of torture by Assad regime

Celebrities call on David Cameron to take more Syrian refugees

One young mother tells of torture by Assad regime
The enemy within: People who hear voices in their heads are being encouraged to talk back – with promising results

The enemy within

People who hear voices in their heads are being encouraged to talk back
'In Auschwitz you got used to anything'

'In Auschwitz you got used to anything'

Survivors of the Nazi concentration camp remember its horror, 70 years on
Autumn/winter menswear 2015: The uniforms that make up modern life come to the fore

Autumn/winter menswear 2015

The uniforms that make up modern life come to the fore