The Week Ahead: Hopeful travellers lead the week's results

The travel & leisure sector will be in focus in the days ahead, with both TUI Travel and Thomas Cook due to post updates this week.

TUI will go first, with third-quarter results on Wednesday. The numbers should give evidence of positive trends in pricing at the group's UK and continental European operations, according to UBS, owing to the discipline imposed by reductions in capacity throughout the market.

"We expect management to reiterate that they are on track to meet expectations for the full year," the broker said, adding that, beyond the numbers, it will be looking for guidance on the UK winter programme.

Any changes in management's views on next year are also likely to be of interest, according to Deutsche Bank. "On the positive side, the risks of a sharp rise in UK unemployment may have slightly reduced, and we would think that cost inflation is less of an issue," Deutsche said,

"On the negative side, we expect ongoing public concerns about swine flu will influence people's holiday decisions if the autumn does indeed see a rise" in the number of cases.

Thomas Cook will publish an interim management statement on Thursday. The key issue, according to Numis, will be guidance on bookings for the final quarter. "For the full year, we currently project earnings before interest and tax of £418m, which may require some slight downward revision to reflect recent currency movements. We also have some concerns that swine flu may have had some short term/exceptional impact on reported numbers," the broker said. Offsetting these concerns it is possible that late summer bookings in the UK may be seeing a beneficial impact from the downgraded summer weather forecast for the UK."



Today: Morgan Sindall's interims promise to meet expectations, according to Panmure Gordon, although the construction services group is likely to reiterate a cautious outlook. "As usual, the company released a fairly detailed first-half trading update in July. Overall trading was described as in line with expectations" the broker said,

"Fit-out markets remain tough; Construction's public sector focus has made it more resilient; Infrastructure is performing well; Affordable Housing is in line and Urban Regeneration is quiet."

Results/Updates: Harvey Nash and Morgan Sindall.



Tomorrow: International Power is due to post interim results and, thanks to the gas contract at the Saltend power station, UBS is looking forward to stronger-than-expected numbers from the UK: "Investor focus will be on the outlook for the full year," the broker said, adding that any comments on refinancing are also likely to be of interest ... International Power has £740m to refinance in the next two years, the majority of which is in 2010."

"Over the first half, [it] has removed all refinancing risk for the next three years, so the attention here is more on whether [it] will have to pay down debt to reduce leverage, or have excess cash to reinvest for growth." Also reporting tomorrow, Intercontinental Hotels is expected by Charles Stanley to post "a very weak set of interim results", reflecting tough conditions and high operational gearing.

"The focus will be on RevPAR [revenue per available room], and whether the performance has further deteriorated or improved on the first quarter," the broker said, forecasting a 14 per cent decline in the figure, in constant currency. "Growth in the number of rooms is central, but the rate is expected to have slowed, as the difficult environment has made it much harder to fund new hotel projects".

Results/Updates: Greggs, Collins Stewart, Friends Provident, Interserve, Intercontinental Hotels and International Power.



Wednesday: Results/Updates: Balfour Beatty, Micro Focus, TUI Travel and BHP Billiton.



Thursday: Tomkins is likely to report weak interims, say UBS, which cites the contraction in many of the group's end markets. The broker forecasts $2.274bn (£1.4bn) in sales, with organic growth down 16 per cent year on year. "Although reported numbers are likely to be uninspiring, we expect management to talk confidently on outlook with automotive markets likely to improve in the short term," UBS said. "Non-residential construction will be of interest too."

Results/Updates: Greencore, Tomkins, Thomas Cook and Prudential.



Friday: Results/Updates: Paypoint.

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
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
PROMOTED VIDEO
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
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
Kenny Ireland, pictured in 2010.
peopleBenidorm, actor was just 68
News
i100
Arts and Entertainment
arts + ents
News
ebookA unique anthology of reporting and analysis of a crucial period of history
News
Morrissey pictured in 2013
people
News
people
News
A scene from the video shows students mock rioting
newsEnd-of-year leaver's YouTube film features playground gun massacre
News
i100
Life and Style
The director of Wall-E Andrew Stanton with Angus MacLane's Lego model
gadgetsDesign made in Pixar animator’s spare time could get retail release
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

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...

Team Secretary - (Client Development/Sales Team) - Wimbledon

£28000 - £32000 per annum: Ashdown Group: Secretary (Sales Team Support) - Mat...

Accountant / Assistant Management Accountant

Competitive (DOE): Guru Careers: We are looking for an Assistant Management Ac...

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