The Week Ahead: Has Barr-Britvic deal bubble burst?

Tuesday

Investors in Irn Bru maker AG Barr will quiz management on why they're only sipping on the caffeinated, carbonated drink when they could quench their thirsts with a Fruit Shoot or a barley water. AG Barr holds its annual meeting at a time when Robinsons owner Britvic has started to distance itself from a merger that has come under close scrutiny from the Competition Commission (CC).

Last week, Britvic chief executive Simon Litherland outlined a £30m cost-cutting strategy that was not predicated on securing a deal with AG Barr, making the £40m of savings made through a merger less attractive.

The CC will announce its findings in July but Britvic, publicly, seems less convinced by the merits of the deal than it was previously. Market chatter does suggest there are plans to resuscitate a combination that would create one of Europe's biggest drinks companies. AG Barr investors will want to know if those rumours reflect the true intentions of both groups.

Results/Updates: Victrex, Volex Group and Westminster Group.

Wednesday

The floor-covering specialist Topps Tiles is set to highlight tough trading conditions in the home improvement sector by posting a sharp fall in half-year profits.

Along with the DIY giants Wickes and B&Q, Topps Tiles has been hit by the squeeze on big-ticket purchases and the extended wintry weather.

The 320-store chain has already guided towards pre-tax profits of £4.3m over the six months to the end of March, down from £5.6m last year. John Stevenson, the analyst at Peel Hunt, said the retailer's update on current trading will provide "clarity on any recovery although against tougher comparatives [in 2011-12], sales are likely to be trending short of our second-half target".

He added: "The risk to estimates remains on the downside." Topps' like-for-like revenue is expected to have decreased by 0.3 per cent over the 26 weeks. It's a busy week for the home improvement sector – B&Q owner Kingfisher, which has 1,025 stores in eight countries, updates on its first-quarter trading on Thursday.

Results/Updates: Brewin Dolphin, De La Rue, Scapa, Telford Homes, Topps Tiles and Torotrak.

Thursday

Results from Severn Trent will be little more than a sideshow on Thursday as the City licks its lips at a £5.3bn potential bid for one of the UK's last remaining listed water companies. Canada's Borealis, the Kuwait Investment Authority and the Universities Superannuation Scheme, a UK pension fund, are circling Trent, which supplies water to more than 4.2 million households in the UK, and thought to be willing to pay up £23 a share. The board is busy bidding up the price, saying the offer "completely fails" to appreciate the value of the firm although Takeover Panel rules mean the bidders have until June 11 to make an offer. The results will be coy on the takeover activity although profits are likely to be flat at £504.6m as business water use declines and costs rise.

Analysts aren't expecting much, meanwhile, from B&Q owner Kingfisher as Britain's bitterly cold spring chills sales. Deutsche Bank is braced for a 13 per cent fall in retail profits to £140m although Credit Suisse is are looking on the bright side: "Spring is simply one month late and, given the softness of comps, much of the lost sales can be caught up."

Results/Updates: Kingfisher, Severn Trent and Tate & Lyle.

Friday

It's a quiet end to the week in terms of results, although there are be figures from LondonMetric.

The mid-cap real estate investment trust, formed by a merger of London & Stamford and Metric Property Investments, is unleashing its final results, and Numis Securities' Chris Spearing expects the group to have seen a "modest decline in NAV to 111p largely as a result of a modest decline in value of the non-London and retail assets".

The analyst only has a "hold" recommendation on the company despite noting it has "significantly underperformed" its peers recently. He adds that he continues "to see more upside elsewhere in the sector over the next few months".

Results/Updates: LondonMetric.

News
i100
News
Netherlands' goalkeeper Tim Krul fails to make a save from Costa Rica's midfielder Celso Borges during a penalty shoot-out in the quarter-final between Netherlands and Costa Rica during the 2014 FIFA World Cup
newsGoalkeepers suffer from 'gambler’s fallacy' during shoot-outs
News
people
Arts and Entertainment
Standing the test of time: Michael J Fox and Christopher Lloyd in 'Back to the Future'
filmReview: A week late, Secret Cinema arrives as interactive screening goes Back to the Future
PROMOTED VIDEO
Travel
travel
Arts and Entertainment
Sydney and Melbourne are locked in a row over giant milk crates
artCultural relations between Sydney and Melbourne soured by row over milk crate art instillation
Arts and Entertainment
Adèle Exarchopoulos and Léa Seydoux play teeneage lovers in the French erotic drama 'Blue Is The Warmest Colour' - The survey found four times as many women admitting to same-sex experiences than 20 years ago
filmBlue Is The Warmest Colour, Bojack Horseman and Hobbit on the way
Arts and Entertainment
Preparations begin for Edinburgh Festival 2014
Edinburgh festivalAll the best shows to see at Edinburgh this year
News
Two giraffes pictured on Garsfontein Road, Centurion, South Africa.
i100
Environment
View from the Llanberis Track to the mountain lake Llyn
Du’r Arddu
environmentA large chunk of Mount Snowdon, in north Wales, is up for sale
News
ebookA unique anthology of reporting and analysis of a crucial period of history
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

Regulatory Reporting-MI-Bank-Cardiff-£300/day

£200 - £500 per day + competitive: Orgtel: I am currently working on a large p...

Trainee Recruitment Consultant - Birmingham - Real Staffing

£18000 - £23000 per annum + Commission: SThree: Real Staffing are currently lo...

Training Programme Manager (Learning and Development)-London

£28000 - £32000 per annum + benefits: Ashdown Group: Training Programme Manage...

1st Line Support Technician / Application Support

£20000 - £24000 per annum: Harrington Starr: A leading provider of web based m...

Day In a Page

Dress the Gaza situation up all you like, but the truth hurts

Robert Fisk on Gaza conflict

Dress the situation up all you like, but the truth hurts
Save the tiger: Tiger, tiger burning less brightly as numbers plummet

Tiger, tiger burning less brightly

When William Blake wrote his famous poem there were probably more than 100,000 tigers in the wild. These days they probably number around 3,200
5 News's Andy Bell retraces his grandfather's steps on the First World War battlefields

In grandfather's footsteps

5 News's political editor Andy Bell only knows his grandfather from the compelling diary he kept during WWI. But when he returned to the killing fields where Edwin Vaughan suffered so much, his ancestor came to life
Lifestyle guru Martha Stewart reveals she has flying robot ... to take photos of her farm

Martha Stewart has flying robot

The lifestyle guru used the drone to get a bird's eye view her 153-acre farm in Bedford, New York
Former Labour minister Meg Hillier has demanded 'pootling lanes' for women cyclists

Do women cyclists need 'pootling lanes'?

Simon Usborne (who's more of a hurtler) explains why winning the space race is key to happy riding
A tale of two presidents: George W Bush downs his paintbrush to pen father’s life story

A tale of two presidents

George W Bush downs his paintbrush to pen father’s life story
Restaurateur Mitch Tonks has given the Great Western Pullman dining car a makeover

The dining car makes a comeback

Restaurateur Mitch Tonks has given the Great Western Pullman dining car a makeover
Gallery rage: How are institutions tackling the discomfort of overcrowding this summer?

Gallery rage

How are institutions tackling the discomfort of overcrowding this summer?
Louis van Gaal has £500,000 video surveillance system installed to monitor Manchester United players

Eye on the prize

Louis van Gaal has £500,000 video surveillance system installed to monitor Manchester United players
Women's rugby: Tamara Taylor adds fuel to the ire in quest to land World Cup

Women's rugby

Tamara Taylor adds fuel to the ire in quest to land World Cup
Save the tiger: The day America’s love of backyard tigers led to a horrific bloodbath

The day America’s love of backyard tigers led to a horrific bloodbath

With only six per cent of the US population of these amazing big cats held in zoos, the Zanesville incident in 2011 was inevitable
Samuel Beckett's biographer reveals secrets of the writer's time as a French Resistance spy

How Samuel Beckett became a French Resistance spy

As this year's Samuel Beckett festival opens in Enniskillen, James Knowlson, recalls how the Irish writer risked his life for liberty and narrowly escaped capture by the Gestapo
We will remember them: relatives still honour those who fought in the Great War

We will remember them

Relatives still honour those who fought in the Great War
Star Wars Episode VII is being shot on film - and now Kodak is launching a last-ditch bid to keep celluloid alive

Kodak's last-ditch bid to keep celluloid alive

Director J J Abrams and a few digital refuseniks shoot movies on film. Simon Usborne wonders what the fuss is about
Once stilted and melodramatic, Hollywood is giving acting in video games a makeover

Acting in video games gets a makeover

David Crookes meets two of the genre's most popular voices