The Week Ahead: Greene King hopes to give cheer to investors

 

Today

Investors will be hoping they can raise a glass to Greene King today after the pubs group announces its pre-close trading update. With like-for-like sales in its managed estate having risen 4.7 per cent during the first nine months of the year, Numis Securities' Douglas Jack is predicting that this part of the group will have seen no growth over the fourth quarter due to tough conditions, as well as the same period 12 months ago being particularly impressive.

The analyst also believes Greene King's own-brewed volumes, as well as earnings from its tenanted pubs, will have remained strong, while overall he expects pre-tax profit for the year of £152m, a rise of 9 per cent.

Results/Updates: Greene King and Imperial Innovations.

Tomorrow

The sugar side of its operations, and not its Primark clothes chain, will be the focus of Associated British Food's interim results on Tuesday, according to Deutsche Bank. The broker's analysts are expecting profit from the business to be up more than 60 per cent from the same period a year ago, although they warn that the company's "other divisions are likely to show margin deterioration".

Results/Updates: ARM Holdings, Associated British Foods, Carpetright, Filtrona, Lidco, Next Fifteen Communications, Reed Elsevier, Smiths News and Surgical Innovations.

Wednesday

The Square Mile is already braced for Talvivaara's first-quarter figures on Wednesday, with the Finnish miner admitting last week that disappointing production coupled with lower nickel prices meant it would post an operating loss for the period – an announcement which saw the stock slump 15 per cent in just one session.

Results/Updates: Bodycote, Capital Shopping Centres, DS Smith, Fenner, GlaxoSmithKline, International Ferro Metals, Johnston Press, Polymetal International, Premier Foods, Sports Direct International, Stagecoach, Standard Life, Talvivaara, UBM and Virgin Media.

Thursday

Consumer goods giant Unilever will reveal how its financial year has started on Thursday as it releases its first-quarter figures. JP Morgan Cazenove's analysts note they are among the more bullish in the Square Mile with their prediction that like-for-like sales will have jumped 7.7 per cent, and they expect both volumes and pricing to be strong.

The transport firms received a shock last month after FirstGroup warned its UK bus margins were on course to drop by over a third. The market will therefore be eager to hear Go-Ahead's comments on the issues suffered by its rival when it announces its third-quarter update this Thursday.

The scribblers from Deutsche Bank – who believe the problems of FirstGroup are "incremental and unique" – are not too worried however, saying that while Go-Ahead is likely to "paint a cautious outlook, we think the continued roll-out of smartcard initiatives will keep volume growth sufficiently strong for there to be minimal change to consensus earnings".

Results/Updates: Admiral, ASOS, AstraZeneca, Barclays, British American Tobacco, Camellia, Cobham, Colt Group, Croda International, Fortune Oil, Go-Ahead, Howden Joinery, Kazakhmys, McBride, Mecom, Meggitt, Royal Dutch Shell, Segro, Senior, Shire, Taylor Wimpey, Unilever and Whitbread.

Friday

The advertising sector is set for a busy rest of the year, with the Olympics, Euro 2012 and the US presidential election all coming up. Before that, rivals WPP and Aegis both release first-quarter figures on Friday, and the former is expected to announce organic sales growth of at least 4 per cent, says UBS's Tamsin Garrity.

She argues that the City believes Aegis's organic growth will be up7.8 per cent, adding that its outlook statement could result in upgrades to full-year forecasts.

Pearson is also releasing figures for the same period, which – notes Numis's Paul Richards – "is seasonally a very small quarter" for the publisher. As a result, the analyst points out it is "highly unlikely we will get any change to guidance or forecasts at this early stage".

Results/Updates: Aegis, AZ Electronic Materials, Pearson, Ultra Electronics and WPP.

Economics Diary

TODAY Eurozone PMI.

TOMORROW Eurozone industrial new orders; Public sector finances; US consumer confidence; US house price index; US new home sales.

WEDNESDAY CBI industrial order expectations; First-quarter GDP (first estimate); Services index;US durable goods orders;US FOMC interest rate decision;US MBA mortgage applications.

THURSDAY BBA mortgage approvals; CBI Realised Sales;GfK Consumer Confidence;US pending home sales;US unemployment claims.

FRIDAY Eurozone retail PMI;US final University of Michigan consumer sentiment index;US GDP (advance).

Start your day with The Independent, sign up for daily news emails
  • Get to the point
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

SThree: Trainee Recruitment Consultant

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

Ashdown Group: IT Manager / Development Manager - NW London - £58k + 15% bonus

£50000 - £667000 per annum + excellent benefits : Ashdown Group: IT Manager / ...

Recruitment Genius: Sales Consultant / Telemarketer - OTE £20,000

£13000 - £20000 per annum: Recruitment Genius: Scotland's leading life insuran...

Ashdown Group: Training Programme Manager - City, London

£40000 - £45000 per annum + benefits : Ashdown Group: Training Programme Manag...

Day In a Page

Where the spooks get their coffee fix: The busiest Starbucks in the US is also the most secretive

The secret CIA Starbucks

The coffee shop is deep inside the agency's forested Virginia compound
Revealed: How the Establishment closed ranks over fallout from Loch Ness Monster 'sighting'

How the Establishment closed ranks over fallout from Nessie 'sighting'

The Natural History Museum's chief scientist was dismissed for declaring he had found the monster
One million Britons using food banks, according to Trussell Trust

One million Britons using food banks

Huge surge in number of families dependent on emergency food aid
Excavation at Italian cafe to fix rising damp unearths 2,500 years of history in 3,000 amazing objects

2,500 years of history in 3,000 amazing objects

Excavation at Italian cafe to fix rising damp unearths trove
The Hubble Space Telescope's amazing journey, 25 years on

The Hubble Space Telescope's amazing journey 25 years on

The space telescope was seen as a costly flop on its first release
Did Conservative peer Lord Ashcroft quit the House of Lords to become a non-dom?

Did Lord Ashcroft quit the House of Lords to become a non-dom?

A document seen by The Independent shows that a week after he resigned from the Lords he sold 350,000 shares in an American company - netting him $11.2m
Apple's ethnic emojis are being used to make racist comments on social media

Ethnic emojis used in racist comments

They were intended to promote harmony, but have achieved the opposite
Sir Kenneth Branagh interview: 'My bones are in the theatre'

Sir Kenneth Branagh: 'My bones are in the theatre'

The actor-turned-director’s new company will stage five plays from October – including works by Shakespeare and John Osborne
The sloth is now the face (and furry body) of three big advertising campaigns

The sloth is the face of three ad campaigns

Priya Elan discovers why slow and sleepy wins the race for brands in need of a new image
How to run a restaurant: As two newbies discovered, there's more to it than good food

How to run a restaurant

As two newbies discovered, there's more to it than good food
Record Store Day: Remembering an era when buying and selling discs were labours of love

Record Store Day: The vinyl countdown

For Lois Pryce, working in a record shop was a dream job - until the bean counters ruined it
Usher, Mary J Blige and Will.i.am to give free concert as part of the Global Poverty Project

Mary J Blige and Will.i.am to give free concert

The concert in Washington is part of the Global Citizen project, which aims to encourage young people to donate to charity
10 best tote bags

Accessorise with a stylish shopper this spring: 10 best tote bags

We find carriers with room for all your essentials (and a bit more)
Paul Scholes column: I hear Manchester City are closing on Pep Guardiola for next summer – but I'd also love to see Jürgen Klopp managing in England

Paul Scholes column

I hear Manchester City are closing on Pep Guardiola for next summer – but I'd also love to see Jürgen Klopp managing in England
Jessica Ennis-Hill: 'I just want to give it my best shot'

Jessica Ennis-Hill: 'I just want to give it my best shot'

The heptathlete has gone from the toast of the nation to being a sleep-deprived mum - but she’s ready to compete again. She just doesn't know how well she'll do...