Business Information Service: This week

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The Independent Online
MONDAY: Final results from Asda, the troubled supermarket chain, are expected to halve from pounds 168.3m to pounds 83m in the year to April.

Annual figures from Scottish & Newcastle, the brewer, are expected to reflect the resilience of leisure operations plus the benefit of the 30 Stakis pubs acquired last year, with pre-tax profits up 3 per cent to pounds 223m for the year to April.

Tiphook, the container and trailer rental group, is forecast to report an increase in pre-tax profits from pounds 76.1m to pounds 95m for the year to April, aided mainly by its container division, where it continues to show strong growth.

The Group of Seven Economic Summit begins in Munich and continues until Wednesday.

UK credit business for May is believed to have remained weak, with a fall of about pounds 30m expected after a pounds 56m decline in April.

A string of German figures for May is expected during the course of this week. Key figures (for which release dates have not been announced) include: May manufacturing orders, which are expected to show a 0.2 per cent rise, while industrial production for the same month is expected to decline by 0.2 per cent. The retail sales figure is forecast to be 1.6 per cent down on a year ago, the same as in April. The trade current account figures should be released. A trade deficit of DM2.2bn is expected, while the current account is forecast to show a surplus of DM2bn.

TUESDAY: Seeboard is expected to have lost money at its supply division, but growth in business parks is expected to bolster pre-tax profits for the year to March by 43 per cent to pounds 97m.

Yorkshire Electricity, meanwhile, is expected to have experienced similar problems on the supply side, and is forecast to show an 18 per cent rise in pre-tax profits to pounds 138m.

The trend of rising unemployment in both West and East Germany is expected to have continued in June, with a seasonally adjusted rise of 20,000 expected in the West alongside a 25,000 (not adjusted) increase in the East.

WEDNESDAY: Year-end figures from Budgens, the food retailer, are expected to show some recovery with pre-tax profits of pounds 3m, up from pounds 13.7m taxable loss last time.

Dixons Group is forecast to show a fall in pre-tax profits to pounds 63m ( pounds 74.2m) for the year to April, hurt by its property division.

Eastern Electricity is expected to lift pre-tax profits to pounds 135m ( pounds 107m) for the year to March.

UK foreign secretary Douglas Hurd is to speak in France to mark Britain's assumption of the EC presidency.

In the US, consumer credit for May is forecast to show a decline of dollars 500m, having fallen by dollars 3.8bn in April.

THURSDAY: Half-year results from Rank Organisation are expected to show a slight reduction in pre-tax profits of about 6 per cent at pounds 90m for the period to April.

Power supplier Scottish Hydro is expected to achieve a rise in pre-tax profits from pounds 95.2m to pounds 115m.

The Halifax Building Society is due to publish the results of its second- quarter house price survey.

FRIDAY: Further good inflation news is expected with the publication of the June UK retail price index. A monthly rise of only 0.2 per cent is forecast. It would push down the year-on-year increase to 4.1 per cent, from 4.3 per cent in May.

Figures for US producer prices are expected to show a 0.3 per cent monthly rise, or 0.2 per cent excluding volatile food and energy prices.

Company results: County NatWest Woodmac. Median economic forecasts: MMS International.