The Week Ahead: Travel companies deliver updates
Monday 24 March 2014
We’ll get a sneak peek at Britain’s holiday plans this week as a raft of travel companies deliver updates.
Kicking things off on Tuesday are easyJet and the cruise operator Carnival, with trading updates.
Numis expects Carnival to raise its forecasts, saying: “Anecdotal evidence suggests a strong ‘wave’ booking season and Carnival chief executive Gerry Cahill has been quoted as saying that bookings at the Carnival brand rose 17 per cent in January.”
On Wednesday TUI Travel also publishes a trading statement. The travel agent was the subject of a recent upbeat note from Barclays, but the bank expects TUI to reveal first-half losses in line with last year.
Then On Thursday rival Thomas Cook will also let shareholders know how bookings have been going. Last time we heard from the company’s chief executive, Harriet Green, she revealed the firm had managed to jump from a first-quarter loss of £56m in 2013 to a £10m profit.
Elsewhere, the Egyptian gold miner Centamin delivers full-year numbers today. Gold prices slid last year and the situation in Egypt has been uncertain, but Cailey Barker at Numis thinks that the miner will still have managed to eke out growth thanks to higher production.
Irn-Bru and Rubicon owner AG Barr and B&Q owner Kingfisher both deliver preliminary numbers tomorrow. Sheridan Admans at The Share Centre says Kingfisher investors will be keen to see if the Government’s Help to Buy mortgage scheme has had a trickle-down effect at its DIY chain.
Finals are on the cards for the online gambling group 888 tomorrow. Numis is predicting earnings before exceptionals of $74m (£44m).
The suit hire specialist Moss Bros delivers its 2013 report on Wednesday. The company hit an eight-year high in January after the chief executive, Brian Brick, said it was set to finish the year ahead of expectations.
Mid-week also sees updates from the housebuilder Bellway and construction-equipment provider Speedy Hire. The company recently warned that the impact of accounting improprieties discovered last year would be worse than first thought.
Finally, on Friday the sugar and sweetener giant Tate & Lyle and broker-dealer Icap will both update investors on trading. Numis reckons Michael Spencer’s Icap will say trading has remained weak.
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