The Week Ahead: Pig meat producer Cranswick can bring home the bacon
Monday 25 November 2013
Investors will be hoping the pig meat producer Cranswick can bring home the bacon when it reveals first-half results.
Higher meat costs have been a concern despite strong sales growth. If Cranswick has been able to pass on raw costs to retailers, its results shouldn’t look too bad. Numis expects pre-tax profit of £22.2m.
The property company Quintain will also deliver a first-half update today. The Wembley specialist is expected to report a solid increase in property values. Barclays notes the stock trades at a 30 per cent discount to the bank’s “sum-of-the-parts price target”, and predicts: “London residential prices will continue to drive higher.” Peel Hunt thinks values will have risen but expects earnings to remain low given the high costs of running its development sites, which produce limited income for now.
Britvic unveils full-year results tomorrow. The maker of Robinsons, Fruit Shoot and J2O is expected to report an operating profit above its most recent guidance of around £131m. Panmure Gordon’s analysts expect a 19 per cent rise in operating profit growth to £134m, and they think Britvic will deliver “further strong earnings growth from a combination of good revenue momentum and cost savings”.
Most of the pub companies updated last week, but it is Punch Taverns’ turn on Wednesday. Panmure Gordon expects that first-quarter sales will be flat. The pubs group plans to start a capital restructuring but Panmure is concerned there is “too much risk to warrant owning the shares at the current price”. It rates the shares a sell with a 7p target price ahead of the update.
On Thursday, DIY retailer Kingfisher will report its trading update, and analysts at Jefferies expect its UK business to be holding up well while its French arm is struggling. Jefferies predicts the third quarter will show year-on-year trading profit growth of 6 per cent with a boost from a “stronger UK housing backdrop”. It also points out that “macroeconomically little has changed in France” so its trading is unlikely to have improved. But its Polish business should have made “decent progress”.
- 1 Benedict Cumberbatch says Hollywood is better for black British actors
- 2 Man who held up 'hire me' sign at Waterloo station returns a year later with 'I'm hiring' sign
Rowan Atkinson to sell £10 million McLaren 'supercar' he crashed into a tree and a lamppost
UK weather: Snow to fall in the coming week with sub-zero temperatures to last until early February
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
US blames Russia after rocket attacks in Ukraine kill at least 30
Warriors in ancient Iraq suffered Post-Traumatic Stress Disorder more than 3,000 years ago, say researchers
Nigel Farage: NHS might have to be replaced by private health insurance
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
George Galloway condemns 'racist, Islamophobic, hypocritical rag' Charlie Hebdo at freedom of speech rally
British Muslim school children suffering a backlash of abuse following Paris attacks
Islamic history is full of free thinkers - but recent attempts to suppress critical thought are verging on the absurd
iJobs Money & Business
£30000 - £32000 per annum + benefits : Ashdown Group: A highly successful, int...
£18000 - £20000 per annum: Recruitment Genius: This rapidly expanding business...
Negotiable: Recruitment Genius: A Tax Assistant is required to join a leading ...
£16000 - £25000 per annum: Recruitment Genius: This is an exciting opportunity...