The Week Ahead: City eager to weigh up strength of Mitie

Today

It's Monday and it's time for the City to welcome the mighty Mitie to the stage. Facilities management and outsourcing is certainly not an exciting sector but last month the group was quite a mover after analysts at Merrill Lynch upgraded it to buy from underperform. Today the midcap company will update the City on trading and, if Merrill is to be believed, it will have been benefiting from steady growth and a gradually improving economic outlook in the UK.

The group, run by Ruby McGregor-Smith, gets about two fifths of its business – around £800m in revenues – from government contracts such as supplying guards for the English and Welsh law courts. Analysts at Peel Hunt are concerned about the costs of its purchase of care home business Enara but expect the first-quarter trading update to be better even though they are still "cautious" about the business. Peel predicts the group is on track for 2014 pre-tax profit of £113.4m, up from £105.5m for the year to March 2013.

Results/Updates: BATM Advanced Communications, Delcam, Mitie, Prudential, SVG Capital.

Tomorrow

Who is hiring and who is firing? Recruitment specialist Michael Page needs to know, and tomorrow its investors expect to hear how the group has managed declining fees. It has been making cuts from it own staff to keep costs down. Analysts at Numis think the group may have turned a corner and expect it to report that the UK market may have shown signs of improvement in the face of continued difficulties in Europe and Australia. Numis, which predicts earnings to have dropped to £32.6m, thinks the group is worth a buy because it is the "most geographically diverse portfolio of all of the UK staffers, and we remain positive on the outlook".

Results/Updates: Caledonia Mining, EnQuest; Mears, Michael Page, Resolution, Synthomer, 1Spatial,Tribal.

Wednesday

Balfour Beatty gets a chance to defend itself after a pretty bad year – the construction and infrastructure group has been hit by government cutbacks, and is likely to continue to sell off various projects and businesses. On Friday, it sold facilities management business WorkPlace for £190m to pay down debt. It said it will eventually use some cash to invest in new businesses, but analysts at Investec think the half-year results on Wednesday will produce a £50m profit shortfall in UK construction and a weaker professional services outturn. They predict the second half will "have to be an extremely buoyant trading period" to keep the group on track. Numis analysts reduced their forecasts and now expect Balfour to report a pre-tax profit for the full year 2013 of around £193m.

Results/Updates: Amara Mining, Balfour Beatty, Capital & Regional, Centamin Egypt, CLS, Eurasian Natural Resources, Interserve, Lookers, Rentokil Initial, Subsea 7.

Thursday

Will investors take a drag on Imperial Tobacco? Investec thinks they should pile in to Imps, over rival British American Tobacco. It doesn't expect third-quarter results to be good but predicts that "potential catalysts" in the form of a new finance boss, non-core disposals and an eventual potential take-out will make it more attractive. Panmure Gordon analysts expect a modest improvement in volumes and stable price mix performance in the quarter – and expect it to reveal a 1 per cent decline in net tobacco revenue, compared with the 2 per cent decline in the first half.

The hot summer may have put people off trips to the pictures and Cineworld's half-year results may show a deterioration in sales. But Oriel Securities analysts think "it is wrong to pay much attention to trading over short periods of time", and says profit growth will be strong. Analysts expect adjusted pre-tax profit of £46m – up from £39m.

Results/Updates: AZ Electronic Materials, Cineworld, Derwent London, Gem Diamonds, Imperial Tobacco, Rank, Ophir Energy, PV Crystalox Solar, SIG.

Friday

Analysts say India is focusing on improving its energy market to encourage investment and reduce shortages that have plagued parts of the country. Scribblers at Citi reckons Essar Energy will be a key beneficiary of this. They point out that it has a "high-potential growth portfolio", and upgrade to buy with an 180p price target ahead of a trading update.

Results/Updates: Essar Energy.

Start your day with The Independent, sign up for daily news emails
Life and Style
A monstrous idea? Body transplants might no longer be science fiction
Science An Italian neurosurgeon believes so - and it's not quite as implausible as it sounds, says Steve Connor
Sport
Demba Ba (right) celebrates after Besiktas win on penalties
footballThere was no happy return to the Ataturk Stadium, where the Reds famously won Champions League
Arts and Entertainment
Natural beauty: Aidan Turner stars in the new series of Poldark
arts + ents
News
Mia Freedman, editorial director of the Mamamia website, reads out a tweet she was sent.
arts + ents
News
people
Arts and Entertainment
The write stuff: masters of story-telling James Joyce, left, and Thomas Hardy
arts + ents...begging to differ, John Walsh can't even begin to number the ways
News
Image from a flyer at the CPAC event where Nigel Farage will be speaking
news
ebooks
ebooksA special investigation by Andy McSmith
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

Recruitment Genius: Telesales / Marketing Executive - B2B - OTE £25,000

£17000 - £25000 per annum: Recruitment Genius: An opportunity to join this new...

SThree: Trainee Recruitment Consultant

£18000 - £21000 per annum + OTE £45,000: SThree: SThree Group have been well e...

SThree: Trainee Recruitment Consultant

£20000 - £25000 per annum + OTE £45,000: SThree: SThree Group have been well e...

Recruitment Genius: Business Control Manager

£36000 - £44000 per annum: Recruitment Genius: Encouraging more businesses to ...

Day In a Page

HIV pill: Scientists hail discovery of 'game-changer' that cuts the risk of infection among gay men by 86%

Scientists hail daily pill that protects against HIV infection

Breakthrough in battle against global scourge – but will the NHS pay for it?
How we must adjust our lifestyles to nature: Welcome to the 'Anthropocene', the human epoch

Time to play God

Welcome to the 'Anthropocene', the human epoch where we may need to redefine nature itself
MacGyver returns, but with a difference: Handyman hero of classic 1980s TV series to be recast as a woman

MacGyver returns, but with a difference

Handyman hero of classic 1980s TV series to be recast as a woman
Tunnel renaissance: Why cities are hiding roads down in the ground

Tunnel renaissance

Why cities are hiding roads underground
'Backstreet Boys - Show 'Em What You're Made Of': An affectionate look at five middle-aged men

Boys to men

The Backstreet Boys might be middle-aged, married and have dodgy knees, but a heartfelt documentary reveals they’re not going gently into pop’s good night
Crufts 2015: Should foreign dogs be allowed to compete?

Crufts 2015

Should foreign dogs be allowed to compete?
10 best projectors

How to make your home cinema more cinematic: 10 best projectors

Want to recreate the big-screen experience in your sitting room? IndyBest sizes up gadgets to form your film-watching
Manchester City 1 Barcelona 2 player ratings: Luis Suarez? Lionel Messi? Joe Hart? Who was the star man?

Manchester City vs Barcelona player ratings

Luis Suarez? Lionel Messi? Joe Hart? Who was the star man at the Etihad?
Arsenal vs Monaco: Monaco - the making of Gunners' manager Arsene Wenger

Monaco: the making of Wenger

Jack Pitt-Brooke speaks to former players and learns the Frenchman’s man-management has always been one of his best skills
Cricket World Cup 2015: Chris Gayle - the West Indies' enigma lives up to his reputation

Chris Gayle: The West Indies' enigma

Some said the game's eternal rebel was washed up. As ever, he proved he writes the scripts by producing a blistering World Cup innings
In Ukraine a dark world of hybrid warfare and murky loyalties prevails

In Ukraine a dark world of hybrid warfare

This war in the shadows has been going on since the fall of Mr Yanukovych
'Birdman' and 'Bullets Over Broadway': Homage or plagiarism?

Homage or plagiarism?

'Birdman' shares much DNA with Woody Allen's 'Bullets Over Broadway'
Broadchurch ends as damp squib not even David Tennant can revive

A damp squib not even David Tennant can revive

Broadchurch, Series 2 finale, review
A Koi carp breeding pond, wall-mounted iPads and a bathroom with a 'wellness' shower: inside the mansion of Germany's 'Bishop of Bling'

Inside the mansion of Germany's 'Bishop of Bling'

A Koi carp breeding pond, wall-mounted iPads and a bathroom with a 'wellness' shower