Among those currently scheduled to release results next week:
10-Jun |
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No FTSE 350 Reporters |
11-Jun | |
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Trading Statement | |
Full Year Results | |
Full Year Results |
12-Jun | |
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AGM Statement | |
Full Year Results | |
Half Year Results |
13-Jun | |
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Half Year Results | |
Full Year Results | |
Half Year Results |
14-Jun | |
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Q1 Trading Statement |
Acquisition pipeline in focus for Halma
Halma’s full-year results shouldn’t contain too many surprises. We last heard from the company back in March, where its trading statement suggested performance for the year was in line with expectations. Organic revenue was up 5.0% and management were expecting to deliver pre-tax profit in the region of £388.5mn.
Halma’s business model is reliant on acquisitions to help prop up its modest organic growth. Progress on deals over the year has lagged the prior year's record levels. But after a slow first half, spending just £60mn, there was more activity in the second. Having a healthy pipeline of deals and being able to execute is key, so we’ll be keen to hear how the new year is shaping up.
Bellway hoping to see positive order momentum continue
A period of inflationary and regulatory challenges has created a lot of pain for UK housebuilders in recent times. Bellway’s not managed to escape these troubles. Back in March, it saw half-year revenue fall nearly 30% to £1.3bn and underlying operating profits drop 56% to £140mn.
But things look like they could have bottomed out now, with recent sector data showing that affordability pressures are easing. When the group issues its trading update next week, we expect to hear that positive momentum in first-half order intakes has continued into the second half. Looking further ahead, markets are expecting volumes to grow by around 40% over the next three years. That’s almost twice as fast as the sector average and should bring a big boost to the profit line if the group can pull it off.
Tesco eager to prove volumes are still moving in the right direction
Tesco‘s full-year results slightly disappointed investors, after lower fuel prices dented sales. But this is largely out of the group’s control. In next week’s trading statement, the market will be particularly interested in whether the group still thinks it will have £2bn of retail free cash flow pumping around the business this year.
Part of that will stem from whether Tesco is still shifting a higher number of items in its supermarkets. Keeping volumes moving upwards while the rate of price increases falls, is crucial. The group’s market-leading offering and market position means we’re cautiously optimistic on this front, although there are no guarantees.
Clothing & Home sales may prove trickier, despite Tesco’s efforts to streamline. The tougher environment is closely linked to the economic climate, and we’d like some more details on demand expectations in the medium-term.
The Non-Executive Chair of Hargreaves Lansdown plc is also a Non-Executive Director of Tesco plc.
Estimates are not a reliable indicator of future performance. Past performance is not a guide to the future. Investments rise and fall in value so investors could make a loss.
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