TUESDAY 11.8.92: First-quarter results from British Airways are forecast to improve five-fold from the Gulf war-affected pounds 15m to pounds 90m pre-tax profit for the three months to June. Cost-cutting and increased traffic are seen as the main contributors to BA's performance.
Although underwriting losses and loan interest payments at General Accident are expected to have fallen, it is unlikely that the insurance company will report profits for the half-year to June. Pre-tax losses of pounds 31m are forecast, well down on the pounds 102m loss previously.
UK producer price figures are expected to show factory-gate inflation still falling. Output prices are forecast to rise 0.1 per cent, in line with recent trends, implying a year-on-year rise of 3.5 per cent compared with 3.6 per cent in June. The Input series is thought to be unchanged, depressed by weak oil and food prices together with a general weakness in sterling commodity prices, leaving input prices 1.4 per cent down on a year ago compared with a fall of 1.3 per cent in June.
WEDNESDAY 12.8.92: Interim figures from Commercial Union are expected to show a break-even position in the second quarter with underwriting losses further reduced for the half-year to June. Pre-tax losses are forecast to have been cut to pounds 19m (loss pounds 26m), while net asset value per share is expected to worsen to 444p (470p).
Heywood Williams, the aluminium, plastic and glass products manufacturer, is expected to have suffered in the second quarter as demand has fallen. Interim pre-tax profits are forecast to be a third lower at pounds 5.5m ( pounds 8.1m) for the period to 30 June.
Half-year results from Queens Moat Houses are expected to report a 17 per cent rise in pre-tax profits to pounds 42.4m for the period to June on sales of pounds 255m ( pounds 213.4m).
US producer prices are forecast to show a rise of 0.2 per cent for July, unchanged from June.
THURSDAY 13.8.92: Cost-cutting measures are expected to benefit Glynwed International, the consumer, building products and engineering group. Pre-tax profits are forecast to sharply increase from pounds 10.4m to pounds 15m in the half-year to June, despite a 7 per cent fall in turnover to pounds 470m.
Third-quarter pre-tax profits from Hanson, the Anglo-American conglomerate, are expected to be lower at pounds 325m ( pounds 379m).
The underwriting loss at Royal Insurance is forecast at pounds 320m ( pounds 361m), while estate agency losses are seen worsening to pounds 10m for the half-year to June. Pre-tax losses of pounds 81m (loss pounds 97m) are expected.
Unemployment figures for July are expected to have picked up again with a rise of 25,000 against 7,000 in June.
UK industrial production for June is forecast to show a 0.2 per cent fall over May, with manufacturing output unchanged.
In the US both retail sales and consumer prices are expected to show monthly rises of 0.3 per cent for July.
FRIDAY 14.8.92: UK retail price index for July is expected to remain unchanged from June, taking the year-on-year up from 3.9 per cent to 4.1 per cent. Since there were even sharper falls this time last year, excluding mortgage rates, the inflation rate is expected to remain unchanged at 4.8 per cent.
Industrial production in the US is expected to recover from the 0.3 per cent fall in June with an equivalent gain for July.
Company results: County NatWest Woodmac. Median economic forecasts: MMS International.Reuse content