Business Information Service: This Week

Click to follow
The Independent Online
MONDAY: Final pre-tax profits at John Menzies are predicted to rise by 14 per cent to pounds 29m after a healthy performance by distribution. The retail division will have been hindered by the pounds 500,000 loss at Hammicks Retail before its disposal, and dull volumes at H M Retail. However, Early Learning UK is forecast to turn in another star performance.

City opinion of MFI is that a very small pick-up in sales would transform the bottom line, such is its operational gearing and management control. Last year's final results, however, may show a 36 per cent drop in profits to pounds 43m. Turnover stabilised after Black Wednesday, but there was no real evidence of an upturn in 1992-3.

UK producer price data for June are expected to show the input series unchanged on the month and 7.3 per cent up on a year ago, down from 7.5 per cent in May.

Output prices are predicted to show a 0.2 per cent monthly rise, or 4 per cent annual rise - identical to May.

TUESDAY: A 0.2 per cent rise in UK manufacturing output is forecast for May, despite the strong 0.7 per cent gain in April. This would leave manufacturing output 3.1 per cent up on a year ago, compared to 2.4 per cent in April.

WEDNESDAY: Signs of continuing economic recovery should be provided by a 0.3 per cent rise in UK retail sales in June.

The retail price index for June should be up 0.2 per cent, pushing the annual rate to 1.5 per cent from 1.3 per cent in May. Excluding mortgage interest payments, the year-on-year rise is forecast at 3 per cent, up from 2.8 per cent in May.

The predicted range for H P Bulmer's final pre-tax profits is pounds 18.7m to pounds 20m, up from pounds 17.1m last time as young people take to cider instead of lager.

Analysts believe that Stanley Leisure, the casino, snooker and betting shops operator, will make final profits of between pounds 7.4m and pounds 8m, against pounds 7.8m last time.

THURSDAY: Interim results at Rank Organisation should show static pre-tax profits of between pounds 93m and pounds 94m. Analysts are not expecting any confirmation of the disposal of its Rank Xerox stake.

In Rank's UK operations, cinemas have been 10 per cent ahead in admissions and nightclubs 13 per cent ahead. Bookings for the second half in the holiday operations were up by 10 per cent. The US businesses have continued to share in the general economic revival.

The video distribution business, which lost pounds 15m in 1991-2, is now responding to treatment and Rank expects it to return to profitability in 1993.

FRIDAY: A pounds 5.2bn deficit for the June PSBR is expected. Average earnings growth for May is thought to be static at around 4 per cent.

Unit wage costs for the three months to May are forecast to be 2.8 per cent below the same period last year, compared to a fall of 2.6 per cent in April.

Results: NatWest Securities. Median economic forecasts: MMS International.

Comments