THE WEEK AHEAD
HSBC Holdings, owner of the Midland Bank, is expected to increase pre- tax profits to between £2.7bn and £3.14bn in 1994 (£2.58bn). Natwest Securities says a relatively dull outlook in the Asia Pacific region is largely factored into the group's valuation. It says at the pre-provision level results are likely to be disappointing with profits down 10 per cent to £3,215m, but this is more than accounted for by a slump in dealing revenues of £808m to £281m.
Interims: Bolton Group, Community Hospitals, Essex Furniture, Go-Ahead Group, Heritage, Primadona.
Finals: Burlington, Capita, Crestacare, Dixon Motors, HSBC Holdings, London Finance and Investment Group, Midland Bank, Millgate, Pegasus, Regina.
Economics: MO figures
TOMORROW
General Accident is expected to say it has seen strong growth in UK commercial lines over the past year, with analysts expecting pre-tax profits in the £380m-£440m band against £295m last time. Attention is also expected to focus on GA's slackening market share in the United States.
Interims: Isotron, MR-Data Management, William Sinclair.
Finals: Admiral, Blagg, Burford, Cantab Pharmaceuticals, Capital Shopping, Corporate Services, Cowie, General Accident, Govett and Co, McDonnel Information Systems, Midland Independent Newspapers, RPS Group, Sleepy Kids, Spring Ram, WPP.
Economics: monthly digest of statistics , economic trends , major British banking groups' mortgage lending.
WEDNESDAY
It is thought the 1994 figures from oil independent, Lasmo, will not show the extent of the turnaround at the group. Brokers believe that will become apparent when low tax production starts from Liverpool Bay later this year.
Pre-tax losses are thought to have been cut to £10m-£28.5m against losses of £118m last time. The second half is expected to have benefited from higher oil prices.
A satisfactory performance is also expected from Vickers, the engineering group, with most analysts interested in the sustainability of the recovery in Rolls-Royce Motors. Profits of about £47m are forecast.
Interims: Jos Holdings, Linx Printing Tech.
Finals: Associated British Ports, BWD, Boddington, Grafton, Graham, HTV, Lasmo, Lex, Record Holdings, Serco, Transatlantic Holdings, Vickers, Yorkshire Food.
Economics: overseas travel and tourism statistics .
THURSDAY
Analysts expect Abbey National bank to boost full-year profits to between £870m and £902m against £704m in 1993.
It is expected to show an increase in its share of the mortgage market against a backcloth of stable margins. Nearly all the rise in profits is expected to have come from a fall in the bad debt provisions.
British Aerospace will have bounced back into the black at the full-year stage following losses of £237m in 1993. It is expected the company has seen a strong second half in defence systems, and profits of £140-£195m are expected. One-off distorting factors are likely to include a £16m loss on the sale of corporate jets.
Interims: Brierley, Chesterton Intl, Finelist, Galliford.
Finals: Abbey National, J Billam, British Aerospace, Life Sciences Intl, Sun Alliance, George Wimpey.
Economics: UK reserves.
FRIDAY
Interims: Redrow Group, Waterman Partnership.
Finals: Henlys Group, Lilleshall, Nightfreight.
Economics: full monetary statistics - including bank and building society balance sheets, bill turnover statistics, lending secured on dwellings, official operations in the money market, sterling certificates of deposit and personal lending .
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