The business week ahead
Monday 14 April 2014
Tesco is fast becoming the black sheep of the City and its chief executive, Philip Clarke, will have a tough job convincing investors things are moving in the right direction when the supermarket delivers full-year results on Wednesday.
The numbers should hold few surprises after updates in January and February – analysts are forecasting a 6 per cent fall in annual profits.
But the shares are trading near 10 year lows and, as Barclays’ James Anstead says, Mr Clarke will have to “convince the market that progress is being made with the core UK business and that this is resonating with customers”.
It’s a quiet start to the week on Monday, with half-year numbers from the animal feed-to-engineering group Carr’s Milling Industries and 2013 figures from the palm oil producer MP Evans.
Tuesday brings full-year figures from JD Sports and a trading statement from Debenhams. The struggling department store issued a post-Christmas profits warning and Andrew Wade at Numis thinks 2014 could mark the fourth year of consecutive earnings decline in the UK.
Investors will be looking for signs of growth in SABMiller’s emerging market operations when the Peroni and Fosters brewer releases a trading statement on Tuesday.
The generator-for-hire operator Aggreko will let investors know how 2014 has been going so far on Tuesday, and we’ll also see first-quarter updates from the recruiter Michael Page and car engineering group GKN, as well as production figures from the mining major Rio Tinto.
Come Wednesday, investors will be keen to hear incoming chief executive Christopher Bailey’s plans for Burberry when the luxury brand updates on first-quarter performance.
The Russian steel maker Evraz will also hand in numbers for the first three months of the year on Wednesday and the consumer goods major Reckitt Benckiser will issue a trading statement.
Before the City shuts down for the Easter holiday weekend, we’ll have trading updates on Thursday from the drinks giant Diageo, iron ore producer Ferrexpo and housebuilder Taylor Wimpey.
- 1 Cyclist who knocked down three-year-old girl says his life has been 'destroyed'
- 2 Chelsea victory parade: Chelsea mocked on Twitter as 'tens of fans' pack the streets of London
- 3 US warned by Chinese media to stop meddling or 'war will be inevitable'
- 4 Woman, 21, dies after taking contraceptive pill that 'caused fatal blood clot'
- 5 Isis burns woman alive for refusing to engage in 'extreme' sex act, UN says
Cyclist who knocked down three-year-old girl says his life has been 'destroyed'
US warned by Chinese media to stop meddling or 'war will be inevitable'
How China's richest man Li Hejun lost $15bn in an hour - and made a fortune
Isis burns woman alive for refusing to engage in 'extreme' sex act, UN says
Snoop Dogg on why he doesn't regret displaying misogyny towards women
As a white man, I'm surprised more women aren't tweeting the hashtag #KillAllWhiteMen
Scotland may have to leave the EU even if it votes to stay in, David Cameron confirms
The day that Britain resigned as a global power
SNP fury as HS2 finds 'no business case' for taking fast train service to Scotland
A nation of inequality: How the UK is failing to feed its most vulnerable people
EU referendum: David Cameron to deny EU migrants and under-18s the chance to vote
iJobs Money & Business
£40-50K: Guru Careers: We are seeking an experienced Software / C# Developer w...
£45,000 - £55,000: Neil Pavier: Are you looking for your next opportunity for ...
£45,000 - £55,000: Sheridan Maine: Are you a newly qualified ACA/ACCA/ACMA qua...
£50,000 - £60,000: Laura Norton: Are you looking for an opportunity within a w...