Next week on the stock market

Reckitt is all set to release its full-year and fourth quarter results next week, with expectations of like-for-like (LFL) net revenue growth of 1-3%. There’s expected to be a high single-digit drop in its nutrition segment due to ongoing challenges from the Mount Vernon tornado, so investors will be keen to see if this can be offset by growth in the Health and Hygiene segments.

Further clarity on portfolio optimisation is also expected, including the exit from Essential Home and updates on the strategic review of its US business, Mead Johnson. Another key area of interest will be whether the company can improve its volume growth this quarter, setting the stage for more balanced price and volume performance in 2025.

Greggs is navigating a challenging period as it approaches its full-year 2024 results next week, with pre-tax profit expected to grow just shy of 12%. That’s a strong result, though it is a slowdown compared to the stronger performance earlier in 2024. High street footfall weakened in the third quarter, with management noting a drop in consumer confidence as the key behind a deceleration in sales growth. Heading into the results, sentiment feels mixed, balancing operational resilience against a tougher economic backdrop.

Investors will have a few key priorities in focus. First, the 2025 cost outlook looms large, particularly how tax changes off the back of Rachel Reeve’s Budget will affect margins. Next, consumer spending in the fourth quarter will be critical - especially with consumer goods firms already warning of a soft start to 2025, a trend Greggs will likely echo. Finally, the company’s growth engines - store expansion, evening trade, and digital channels - need to show sustained progress to reassure markets that Greggs can keep pushing forward despite the sector headwinds.

Vistry’s in a tough spot after issuing three profit warnings in the final quarter of 2024. Markets will be watching next week’s announcement like hawks, and we’re keen to get an insight into the group’s outlook for 2025.

A lot of the recent issues have stemmed from spreading itself thin and chasing higher volumes too quickly. We’d like to see a reset in management’s focus, towards improving profitability and cash generation, even if it means leaving opportunities on the table if a big enough margin of safety can’t be built into contracts.

Despite the major drop in valuation off the back of recent slip-ups, further disappointments can’t be ruled out. Management has a tough job on its hands to rebuild investors’ confidence, and we’d like to see a candid assessment of both the opportunities and challenges that lie ahead in next week’s full-year results.