The Week Ahead: Balfour Beatty hopes to build on better results

Fears over the global economy were knocking Balfour Beatty's share price even before the markets slumped, and the latest fall has caused Britain's largest infrastructure services company to drop by around a quarter since March.

The group will be hoping it can reverse the trend, starting this Wednesday when it releases its interim results. At the start of July Balfour issued a trading statement for the first half of the year – during which time it finished work on the Aquatics Centre in east London for the 2012 Olympics – in which it said it was on track to meet its targets.

Citigroup expects Balfour's results to be "solid", and the broker's analyst David Phillips is predicting its earnings before interest, tax and amortisation to come in at around £140m. This would be roughly 7 per cent lower than the previous year, although he points out that, without one-off issues, it would have been level.

Mr Phillips notes that Balfour has suggested the usual weighting of its full-year results towards the second six months will be higher than usual, and he expects the rest of the year to end up providing around 60 per cent of its profits.

Therefore its forward-looking comments are likely to be more important than ever, and Howard Seymour of Numis Securities believes Balfour will "point to [a] challenging outlook in its major geographic markets", although he notes that this would be "in line with previous... expectations".

Mr Seymour is still positive, however, saying that "even with the threat of UK public sector cutbacks to take place, we believe that Balfour Beatty has the potential to maintain earnings at current levels organically" as well as "significant potential for bolt-on growth in its major overseas markets."



Today

With Michael Page issuing a trading update in July, it seems unlikely there will be too much new information from the recruiter when it releases its interim results on Monday. Peel Hunt'sanalysts expect most of the attention will focus on the company's comments on the economic climate as well as on signs of how it has been performing since the period covered by its last announcement. They predict "a relatively subdued outlook for Europe, offset by continuing strength in the overseas businesses".

Results and updates: Michael Page and Mitie.



Tomorrow

The reporting season for the insurance sector has largely drawn to a close, but Resolution still has its first-half results to announce on Tuesday. Given the buy-out vehicle's acquisition of Axa's UK life business last year, Citigroupexpects the group – whose other businesses include Bupa Health Assurance and Friends Provident – to reveal IFRS earnings for the six months of £372m, which would be more than double those for the same period the previous year.

Results and updates: Pennon andResolution Group.



Wednesday

In a quiet week for results, Eurasian Natural Resources is one of just a few blue chips updating the market; it is due to announce its first-half figures on Wednesday. Earlier in the month, the miner released a productionupdate in which it said iron volumes had fallen over the second quarter,although its output of saleable ferrochrome – which contributes around half its earnings – had risen.

Also releasing figures is Henderson, which recently published a trading statement forecasting that underlying profits for the first half of the year would rise by around 80 per cent to as much as £87m. The fund manager claimed the boost came from retail investors, and David McCann of Numis Securities says he will be focusing on its dividend as well as assets under management and revenue margins.

Results and updates: Balfour Beatty, Eurasian Natural Resources, Henderson and Talvivaara.



Thursday

Savills releases its interim results on Thursday, with UBS predicting it could provide the spark for the estate agent's share price to rally.

Unsurprisingly in the housing market, the broker expects Savills to announce that its operations in London have been strong, predicting its performance in the capital – especially with regards to residential – should "offset any weakness elsewhere."

The analysts from UBS are forecasting its profits before tax to be just over £18m – a year-on-year increase of 6 per cent – and they add that Savills should be helped by the continuing worldwide real estate recovery, pointing out that more than 40 per cent of thecompany's revenues come from the Asia-Pacific region.

Results and updates: Savills.



Friday

Results and updates: Jupiter FundManagement.

Start your day with The Independent, sign up for daily news emails
Voices
There will be a chance to bid for a rare example of the SAS Diary, collated by a former member of the regiment in the aftermath of World War II but only published – in a limited run of just 5,000 – in 2011
charity appealTime is running out to secure your favourite lot as our auction closes at 2pm tomorrow
Arts and Entertainment
James May, Jeremy Clarkson and Richard Hammond in the Top Gear Patagonia Special
tv
News
Claudia Winkleman and co-host Tess Daly at the Strictly Come Dancing final
people
Arts and Entertainment
Caroline Flack became the tenth winner of Strictly Come Dancing
tvReview: 'Absolutely phenomenal' Xtra Factor presenter wins Strictly Come Dancing final
PROMOTED VIDEO
Arts and Entertainment
The Apprentice finalists Mark Wright and Bianca Miller
tvBut who should win The Apprentice?
News
news
News
Elton John and David Furnish will marry on 21 December 2014
peopleSinger posts pictures of nuptials throughout the day
Sport
SPORT
Life and Style
A still from the 1939 film version of Margaret Mitchell's 'Gone with the Wind'
life
Arts and Entertainment
J Jefferson Farjeon at home in 1953
booksBooksellers say readers are turning away from modern thrillers and back to golden age of crime writing
ebooks
ebooksA year of political gossip, levity and intrigue from the sharpest pen in Westminster
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Carlton Senior Appointments: Private Banking Manager - Intl Bank - Los Angeles

$200 - $350 per annum: Carlton Senior Appointments: Managing Producer – Office...

Carlton Senior Appointments: San Fran - Investment Advisor – Ind Advisory Firm

$125 - $225 per annum: Carlton Senior Appointments: San Fran - Investment Advi...

Sheridan Maine: Commercial Finance Manager

Up to £70,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...

Sheridan Maine: Regulatory Reporting Accountant

Up to £65,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...

Day In a Page

The week Hollywood got scared and had to grow up a bit

The week Hollywood got scared and had to grow up a bit

Sony suffered a chorus of disapproval after it withdrew 'The Interview', but it's not too late for it to take a stand, says Joan Smith
From Widow Twankey to Mother Goose, how do the men who play panto dames get themselves ready for the performance of a lifetime?

Panto dames: before and after

From Widow Twankey to Mother Goose, how do the men who play panto dames get themselves ready for the performance of a lifetime?
Thirties murder mystery novel is surprise runaway Christmas hit

Thirties murder mystery novel is surprise runaway Christmas hit

Booksellers say readers are turning away from dark modern thrillers and back to the golden age of crime writing
Anne-Marie Huby: 'Charities deserve the best,' says founder of JustGiving

Anne-Marie Huby: 'Charities deserve the best'

Ten million of us have used the JustGiving website to donate to good causes. Its co-founder says that being dynamic is as important as being kind
The botanist who hunts for giant trees at Kew Gardens

The man who hunts giants

A Kew Gardens botanist has found 25 new large tree species - and he's sure there are more out there
The 12 ways of Christmas: Spare a thought for those who will be working to keep others safe during the festive season

The 12 ways of Christmas

We speak to a dozen people who will be working to keep others safe, happy and healthy over the holidays
Birdwatching men have a lot in common with their feathered friends, new study shows

The male exhibits strange behaviour

A new study shows that birdwatching men have a lot in common with their feathered friends...
Diaries of Evelyn Waugh, Virginia Woolf and Noël Coward reveal how they coped with the December blues

Famous diaries: Christmas week in history

Noël Coward parties into the night, Alan Clark bemoans the cost of servants, Evelyn Waugh ponders his drinking…
From noble to narky, the fall of the open letter

From noble to narky, the fall of the open letter

The great tradition of St Paul and Zola reached its nadir with a hungry worker's rant to Russell Brand, says DJ Taylor
A Christmas ghost story by Alison Moore: A prodigal daughter has a breakthrough

A Christmas ghost story by Alison Moore

The story was published earlier this month in 'Poor Souls' Light: Seven Curious Tales'
Marian Keyes: The author on her pre-approved Christmas, true love's parking implications and living in the moment

Marian Keyes

The author on her pre-approved Christmas, true love's parking implications and living in the moment
Bill Granger recipes: Our chef creates an Italian-inspired fish feast for Christmas Eve

Bill Granger's Christmas Eve fish feast

Bill's Italian friends introduced him to the Roman Catholic custom of a lavish fish supper on Christmas Eve. Here, he gives the tradition his own spin…
Liverpool vs Arsenal: Brendan Rodgers is fighting for his reputation

Rodgers fights for his reputation

Liverpool manager tries to stay on his feet despite waves of criticism
Amir Khan: 'The Taliban can threaten me but I must speak out... innocent kids, killed over nothing. It’s sick in the mind'

Amir Khan attacks the Taliban

'They can threaten me but I must speak out... innocent kids, killed over nothing. It’s sick in the mind'
Michael Calvin: Sepp Blatter is my man of the year in sport. Bring on 2015, quick

Michael Calvin's Last Word

Sepp Blatter is my man of the year in sport. Bring on 2015, quick