The Week Ahead: Results set to signal recovery at Reckitt - Business Analysis & Features - Business - The Independent

The Week Ahead: Results set to signal recovery at Reckitt


It is fair to say results from the consumer-goods sector have been mixed recently. Both US giant Procter & Gamble and France's Danone issued profit warnings in June, while last week Marmite owner Unilever's latest numbers came in better than expected.

Today it is the turn of Reckitt Benckiser, with the maker of Vanish and Dettol announcing its first-half figures. Bernstein's Andrew Wood is expecting the group's recent performance to be "reasonable, not excellent", but he points out that "this should still represent another step towards sustained recovery in performance."

Meanwhile, Panmure Gordon's analysts believe "the bears of Reckitt will be disappointed with the... results, with no profit warning or change of view", and predicted a 4 per cent rise in its like-for-like sales.

HSBC is also releasing its interim results, and UBS analyst Alastair Ryan is expecting a pre-tax profit for the first-half of the year of $11.9bn (£7.55bn). At the same time, the Square Mile will be eager to hear the latest from bosses on the money-laundering scandal.

Results/Updates: Fidessa, Gem Diamonds, Hiscox, HSBC, Keller, National Grid, Reckitt Benckiser and Ultra Electronics.


Last week Drax slumped 15 per cent in one session after the government finally announced its proposals for green-energy subsidies, with investors disappointed by the support for biomass.

However, the power-station operator responded by welcoming the proposals and saying plans to convert its plants to burn more of the eco-friendly fuel were still on track, so the market will be looking for further reassurance on Tuesday when it announces its half-year results.

Results/Updates: Allocate Software, BP, Brammer, Capital & Counties Properties, Creston, Devro, Dignity, Drax Group, Elementis, Fresnillo, Future, GKN, Greencore, Inchcape, Petra Diamonds, Polymetal International, Rotork, Tullett Prebon, Vedanta Resources, Weir Group, Wolfson Microelectronics and Xstrata.


The fact the sun has stayed away for much of the summer has not been good news for the clothing retailers, with shoppers unwilling to splash out on new wardrobes. On Wednesday, Next will reveal how much it has been knocked by the weather as Lord Wolfson's chain unveils its figures for the second quarter.

Analysts from Bernstein expect the company to announce that like-for-like retail sales dropped by 4 per cent over the period, although they do highlight recent industry data showing it has been outperforming its rivals on the high street.

Results/Updates: Antofagasta, Avocet Mining, Eurasian Natural Resources, F&C Asset Management, Filtrona, Jupiter Fund Management, Next, Rexam, Rightmove, Shire, Standard Chartered, StatPro, Taylor Wimpey, WS Atkins and Xchanging.


RSA announces its interim results on Thursday, and the insurer has already said it expects the UK's recent heavy rain and flooding to have cost it at least £50m. It also estimated losses from the Italian earthquakes earlier in the year will total £35m, and the two will combine to overshadow a "positive, underlying underwriting performance", according to JPMorgan Cazenove.

Results/Updates: 4imprint, Aggreko, BAE Systems, Hyder Consulting, Ladbrokes, Management Consulting Group, Millennium & Copthorne Hotels, Robert Walters, RPS, RSA Insurance, Schroders, Segro, Smith & Nephew, Spirent Communications, Thomas Cook and Trinity Mirror.


The recent run of updates from the banking sector comes to an end on Friday as Royal Bank of Scotland unveils its interim results. Oriel Securities' scribes are expecting the group to have managed an operating profit of £1,982m over the six months, hindered by a £979m loss from its remaining non-core businesses.

Results/Updates: Diploma, Inmarsat, International Consolidated Airlines, Novae, Rentokil Initial and Royal Bank of Scotland.

Economics diary

Today: CBI realised sales; Consumer credit data; Mortgage approvals.

Tomorrow: Eurozone CPI; Eurozone unemployment rate; US Chicago PMI; US consumer confidence data.

Wednesday: British Retail Consortium shop price index; Eurozone manufacturing PMI; Manufacturing PMI; US construction spending; US Federal Open Market Committee interest rate statement; US ISM manufacturing; US MBA mortgage approvals.

Thursday: Bank of England asset purchase facility; Bank of England interest rate announcement; Construction PMI; European Central Bank interest rate announcement and press conference; US factory orders; US unemployment claims.

Friday: Eurozone retail sales; Services PMI; US ISM Non-Manufacturing PMI; US non-farm payroll figures.

John Travolta is a qualified airline captain and employed the pilot with his company, Alto
people'That was the lowest I’d ever felt'
Life and Style
healthIt isn’t greasy. It doesn’t smell. And moreover, it costs nothing
peopleThe report and photo dedicated to the actress’s decolletage has, unsurprisingly, provoked anger
Home body: Badger stays safe indoors
The programme sees four specialists creating what they believe are three perfect couples, based on scientific matchmaking. The couples will not meet until they walk down the aisle together
tvUK wedding show jilted
Arts and Entertainment
US pop diva Jennifer Lopez sang “Happy Birthday” to Gurbanguly Berdimuhamedow, president of Turkmenistan
musicCorporate gigs become key source of musicians' income
Arts and Entertainment
You've been framed: Henri Matisse's colourful cut-outs at Tate Modern
artWhat makes a smash-hit art show
ebooksAn unforgettable anthology of contemporary reportage
Arts and Entertainment
While many films were released, few managed to match the success of James Bond blockbuster 'Skyfall'
filmsDaniel Craig believed to be donning skis as 007 for first time
Mikel Arteta pictured during Borussia Dortmund vs Arsenal
champions league
Yes supporters gather outside the Usher Hall, which is hosting a Night for Scotland in Edinburgh
voicesBen Judah: Is there a third option for England and Scotland that keeps everyone happy?
Arts and Entertainment
Pulp-fiction lover: Jarvis Cocker
booksJarvis Cocker on Richard Brautigan
Arts and Entertainment
Robin Thicke and Pharell Williams in the video of the song, which has been accused of justifying rape
music...and he had 'almost no part' in writing it
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating

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

iJobs Job Widget
iJobs Money & Business

Sales Executive

£20 - 24k (Uncapped Commission - £35k Year 1 OTE): Guru Careers: We are seekin...

Payroll & Accounts Assistant

£20 - 24k + Benefits: Guru Careers: This is a great opportunity for an enthusi...

SQL Developer - Watford/NW London - £280 - £320 p/d - 6 months

£280 - £320 per day: Ashdown Group: The Ashdown Group have been engaged by a l...

Senior BA - Insurance **URGENT**

£400 - £450 Per Day: Clearwater People Solutions Ltd: **URGENT CONTRACT ROLE**...

Day In a Page

Mystery of the Ground Zero wedding photo

A shot in the dark

Mystery of the wedding photo from Ground Zero
His life, the universe and everything

His life, the universe and everything

New biography sheds light on comic genius of Douglas Adams
Save us from small screen superheroes

Save us from small screen superheroes

Shows like Agents of S.H.I.E.L.D are little more than marketing tools
Reach for the skies

Reach for the skies

From pools to football pitches, rooftop living is looking up
These are the 12 best hotel spas in the UK

12 best hotel spas in the UK

Some hotels go all out on facilities; others stand out for the sheer quality of treatments
These Iranian-controlled Shia militias used to specialise in killing American soldiers. Now they are fighting Isis, backed up by US airstrikes

Widespread fear of Isis is producing strange bedfellows

Iranian-controlled Shia militias that used to kill American soldiers are now fighting Isis, helped by US airstrikes
Topshop goes part Athena poster, part last spring Prada

Topshop goes part Athena poster, part last spring Prada

Shoppers don't come to Topshop for the unique
How to make a Lego masterpiece

How to make a Lego masterpiece

Toy breaks out of the nursery and heads for the gallery
Meet the ‘Endies’ – city dwellers who are too poor to have fun

Meet the ‘Endies’ – city dwellers who are too poor to have fun

Urbanites are cursed with an acronym pointing to Employed but No Disposable Income or Savings
Paisley’s decision to make peace with IRA enemies might remind the Arabs of Sadat

Ian Paisley’s decision to make peace with his IRA enemies

His Save Ulster from Sodomy campaign would surely have been supported by many a Sunni imam
'She was a singer, a superstar, an addict, but to me, her mother, she is simply Amy'

'She was a singer, a superstar, an addict, but to me, her mother, she is simply Amy'

Exclusive extract from Janis Winehouse's poignant new memoir
Is this the role to win Cumberbatch an Oscar?

Is this the role to win Cumberbatch an Oscar?

The Imitation Game, film review
England and Roy Hodgson take a joint step towards redemption in Basel

England and Hodgson take a joint step towards redemption

Welbeck double puts England on the road to Euro 2016
Relatives fight over Vivian Maier’s rare photos

Relatives fight over Vivian Maier’s rare photos

Pictures removed from public view as courts decide ownership
‘Fashion has to be fun. It’s a big business, not a cure for cancer’

‘Fashion has to be fun. It’s a big business, not a cure for cancer’

Donatella Versace at New York Fashion Week