The Week Ahead: JJB problems to gather pace with FY loss

Today: Oil & gas assurance and quality control company Velosi is expected to announce an impressive set of first-half results this morning, showing that trading was better than expected. Last year's pre-tax profits increase of 30 per cent will most probably be replicated.

Analysts at Charles Stanley expect the positive trend to continue into 2010, bolstered by increased demand for quality assurance in the oil and gas industry, as environmental and safety concerns become priorities. In the first six months of the year, Velosi has secured its position by negotiating several lucrative new contracts as well as renewing existing ones. The analysts reckon: "We expect demand for the group's services to remain resilient."

Results/updates: Ideal Shopping Direct, Lighthouse Group, Millbrook Scientific Instruments, MP Evans, Velosi.



Tomorrow: Third-quarter results from the cruise operator Carnival are expected to show that the business has remained resilient despite the impact of the credit crunch and other nasties like swine flu. While ticket prices, especially in North America, have been forced down by the tough economic conditions, on-board spending, which accounts for 25 per cent of revenue, has remained broadly flat.

Bookings for Mexican cruises have recovered since the US lifted a travel warning for that country, though ticket prices there have nonetheless been forced down. Carnival has also benefited from a 43 per cent decline in the average price of fuel, as well as reductions in other costs, such as food. The experts at Charles Stanley describe Carnival as "still the number one player in a global duopoly," adding that it "has a strong balance sheet and cruising is a growth industry". They argue that returning consumer confidence in the US will be crucial for the business in the next six months.

Results/updates: Highland Gold Mining, Gulfsands Petroleum, Carnival, JD Sports Fashion, Savile Group, AI Claims, CVS Group.



Wednesday: Game Group is expected to post a profit before tax of £15.8m, which is at the upper end of predictions, even if it is down 57 per cent on last year. Retail analysts at KBC say: "The [video] game release schedule has affected profits though first-half results are largely irrelevant for a business like Game, which has only twice before posted a profit in the first half. " They add: "Game enjoys a strong market share which it can hope to increase still further going into the all-important second half, which includes Christmas."

KBC expects profits to keep falling, however. Competitor HMV has already observed that the UK video games market was down by over 30 per cent on last year, though high-profile releases such as Beatles Rock Band have boosted trade recently.

Another problem facing Game Group is competition from the supermarket giants such as Tesco and Asda, which have increased stocks of reduced price games and consoles, using them as loss leaders to entice customers into their stores.

Results/updates: Ceres Power Holdings, EG Solutions, Game Group, Charlemagne Capital.



Thursday: JJB Sports is expected to post a loss of £40 million for the half year. The chain was dogged by fears that it could go bust at the bottom of the market, and struggled to build up stock levels as suppliers were reluctant to do business with the group.

The results are expected to indicate a double-digit drop in sales compared to last year, while in-store stock levels remain a concern.

While JJB has proved its short-term viability, the company is struggling to acquire new stock quickly enough, as well as facing challenges in enticing customers back into its stores.

Another concern is store presentation, which some analysts have identified as a weakness in the company's model. The opening of a new flagship store at the Trafford centre in Manchester where lines are broken down by brand has gone some way to addressing concerns, though a nationwide roll out is not expected imminently.

JJB Sports and its larger competitor Sports Direct are still under investigation by the Serious Fraud Office for alleged price fixing, which has further hampered JJB's appeal to both customers and investors.

Results/Updates: S&U, JJB Sports, M&C Saatchi, Group NBT.



Friday: Results/Updates:Afren, Dillistone, Alexon, Mission Marketing.

Start your day with The Independent, sign up for daily news emails
News
Kim Wilde began gardening in the 1990s when she moved to the countryside
peopleThe singer is leading an appeal for the charity Thrive, which uses the therapy of horticulture
Sport
Alexis Sanchez celebrates scoring a second for Arsenal against Reading
football
Life and Style
health
Voices
An easy-peel potato; Dave Hax has come up with an ingenious method in food preparation
voicesDave Hax's domestic tips are reminiscent of George Orwell's tea routine. The world might need revolution, but we like to sweat the small stuff, says DJ Taylor
News
i100
News
Japan's population is projected to fall dramatically in the next 50 years (Wikimedia)
news
ebooks
ebooksA special investigation by Andy McSmith
  • 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

NHS struggling to monitor the safety and efficacy of its services outsourced to private providers

Who's monitoring the outsourced NHS services?

A report finds that private firms are not being properly assessed for their quality of care
Zac Goldsmith: 'I'll trigger a by-election over Heathrow'

Zac Goldsmith: 'I'll trigger a by-election over Heathrow'

The Tory MP said he did not want to stand again unless his party's manifesto ruled out a third runway. But he's doing so. Watch this space
How do Greek voters feel about Syriza's backtracking on its anti-austerity pledge?

How do Greeks feel about Syriza?

Five voters from different backgrounds tell us what they expect from Syriza's charismatic leader Alexis Tsipras
From Iraq to Libya and Syria: The wars that come back to haunt us

The wars that come back to haunt us

David Cameron should not escape blame for his role in conflicts that are still raging, argues Patrick Cockburn
Sam Baker and Lauren Laverne: Too busy to surf? Head to The Pool

Too busy to surf? Head to The Pool

A new website is trying to declutter the internet to help busy women. Holly Williams meets the founders
Heston Blumenthal to cook up a spice odyssey for British astronaut manning the International Space Station

UK's Major Tum to blast off on a spice odyssey

Nothing but the best for British astronaut as chef Heston Blumenthal cooks up his rations
John Harrison's 'longitude' clock sets new record - 300 years on

‘Longitude’ clock sets new record - 300 years on

Greenwich horologists celebrate as it keeps to within a second of real time over a 100-day test
Fears in the US of being outgunned in the vital propaganda wars by Russia, China - and even Isis - have prompted a rethink on overseas broadcasters

Let the propaganda wars begin - again

'Accurate, objective, comprehensive': that was Voice of America's creed, but now its masters want it to promote US policy, reports Rupert Cornwell
Why Japan's incredible long-distance runners will never win the London Marathon

Japan's incredible long-distance runners

Every year, Japanese long-distance runners post some of the world's fastest times – yet, come next weekend, not a single elite competitor from the country will be at the London Marathon
Why does Tom Drury remain the greatest writer you've never heard of?

Tom Drury: The quiet American

His debut was considered one of the finest novels of the past 50 years, and he is every bit the equal of his contemporaries, Jonathan Franzen, Dave Eggers and David Foster Wallace
You should judge a person by how they peel a potato

You should judge a person by how they peel a potato

Dave Hax's domestic tips are reminiscent of George Orwell's tea routine. The world might need revolution, but we like to sweat the small stuff, says DJ Taylor
Beige is back: The drab car colours of the 1970s are proving popular again

Beige to the future

Flares and flounce are back on catwalks but a revival in ’70s car paintjobs was a stack-heeled step too far – until now
Bill Granger recipes: Our chef's dishes highlight the delicate essence of fresh cheeses

Bill Granger cooks with fresh cheeses

More delicate on the palate, milder, fresh cheeses can also be kinder to the waistline
Aston Villa vs Liverpool: 'This FA Cup run has been wonderful,' says veteran Shay Given

Shay Given: 'This FA Cup run has been wonderful'

The Villa keeper has been overlooked for a long time and has unhappy memories of the national stadium – but he is savouring his chance to play at Wembley
Timeless drama of Championship race in league of its own - Michael Calvin

Michael Calvin's Last Word

Timeless drama of Championship race in league of its own