The Week Ahead: Property the focus as builders and estate agents deliver results


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The Independent Online

Property is the focus this week as a range of housebuilders and estate agents deliver results.

Bovis Homes has full-year results today, followed by finals from Persimmon a day later, half-year numbers from Barratt Developments on Wednesday, finals from Derwent London, Covent Garden owner Capital & Countries Properties and estate agent Countrywide on Thursday, and full-year figures from Rightmove on Friday.

The City expects good things, with JPMorgan saying there is “little to derail the sector” this year, while warning that some companies, such as Persimmon, are starting to look a little overpriced.

It is a packed week for corporate earnings, beginning today with finals from Bunzl, HSBC, UNITE and XP Power. BHP Billiton and Dechra Pharmaceuticals have interim results. Croda, Elementis, GKN, Meggitt, Mondi, New World Resources and Provident Financial have finals tomorrow. Half-year numbers are due from AnimalCare, Ashmore Group, BHP Billiton, Genus and Gulf Marine Services.

The insurer Brit, which is about to be taken over, has finals on Wednesday, as do Henderson, International Personal Finance, Man Group, Petrofac, Plus500, SEGRO, St James’s Place, TSB Bank, Vitec and Weir. Hays has half-year figures, as do Kier Group, MJ Gleeson and Wilmington.

Thursday sees finals from Bodycote, British American Tobacco, Capita, Circassia Pharmaceuticals, CRH, Domino’s Pizza, Howden Joinery, Interserve, Jupiter Fund Management, Kaz Minerals, Merlin Entertainments, National Express, Playtech, Premier Oil, Reed Elsevier, Robert Walters, Royal Bank of Scotland, RPS, RSA Insurance, Spirent, STV Group, Synthomer and Xchanging. Ladbrokes issues a full-year update on Thursday. Berendsen has finals on Friday, along with IMI, Intu Properties, Lloyds Banking Group, Old Mutual, Pan African Resources, Pearson, Rentokil Initial, Restaurant Group, Spectris, UBM and William Hill. The British Airways owner International Consolidated Airlines also has finals, with investors keen for an update on its efforts to take over Irish flag carrier Aer Lingus.