| CATEGORY: FINANCIAL DIARY SECTOR: SUPPORT SERVICES |
Week Ahead: Bunzl, 888 Holdings, DSG International |
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Fri 27 Aug 2010
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LONDON (SHARECAST) - Even though there are only four working days next week in the UK the results programme looks less packed than this week’s, with no real super-heavyweights expected to declare.
Distribution and outsourcing group Bunzl and online gaming group 888 get the ball rolling on Tuesday.
Charles Stanley thinks Bunzl will show “a return to positive underlying revenue growth of 1% to 2% compared to a 1.1% decline recorded in 2009.” It predicts half year profit before tax of £125m, up from £115.5m last year, and is expecting the dividend to be hiked to 7p from 6.65p.
“However, in the first half, there are some variances within the geographical regions. For example, North America which accounts for 53% of group revenue has accelerated its revenue growth to near 5% from the +2.6% recorded in 2009. Underlying growth rates have improved in all of the business areas, even in the more cyclical exposed UK market. Overall, group revenue may have decreased by 2% compared to the same period last year which is due to the negative impact from currency translation with sterling stronger in the first half of 2010 with the average $/£ at 1.53 compared to 1.49 and the Euro/£ at 1.15 compared to 1.12,” Chares Stanley analyst Tony Shepard said.
888 Holdings has already revealed second quarter key performance indicators so the interim results should not hold too many surprises.
Total operating income in the second quarter of 2010 was much the same level as the year before at $61m, but was down on the $69m of revenue in the first quarter of 2010.
The business to consumer (B2C) division saw total operating income improve 6% year on year to $52m from $48m, but total operating income in the business to business (B2B) division fell 24% to $10m from $12m, though it was 3% higher on a pro-forma basis.
The company may release more details on its B2B deal with Microgame, Italy's leading remote gaming service provider with more than 1.7m customer accounts and a significant market share in poker and sports betting.
Later in the week DSG International, soon to undergo a welcome reversion to its former name of Dixons, issues a trading update covering the first quarter of its financial year.
Nomura is forecasting a strong sales performance given the challenging trading environment, “with Currys offsetting ongoing weakness at PC World, driven by easy comparatives, the World Cup and iPad sales.”
The broker thinks like for like sales will show little or no change from a year earlier, but margins may improve by half a percentage point.
On the economic front, the big release of the week is US non-farm payrolls data on Friday.
Monday August 30
INTERIMS
Eurasia Drilling Company GDR (Reg S), JSC Kazkommertsbank GDR (Reg S)
QUARTERLY EX-DIVIDEND DATE
Schlumberger
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
PMI Retail (GER) (08:55)
PMI Retail (EU) (09:00)
Business Climate Indicator (EU) (10:00)
Economic Sentiment Indicator (EU) (10:00)
Industrial Confidence (EU) (10:00)
Consumer Confidence (EU) (10:00)
Service Sector Confidence (EU) (10:00)
Personal Consumption Expenditures (US) (13:30)
Personal Income (US) (13:30)
Personal Spending (US) (13:30)
Dallas Fed Manufacturing Activity (US) (15:30)
AGMS
Boundary Capital
UK ECONOMIC ANNOUNCEMENTS
Hometrack Housing Survey (00:01)
Nationwide House Price Index (07:00)
PMI Retail (09:30)
Tuesday August 31
INTERIMS
888 Holdings, Afren, Alpha Bank GDR (Reg S) USD, British Polythene, Concurrent Technologies, Goldenport, Grafton Group (Units), Hansteen Holdings, HydroDec Group, IFG Group, Integra Group GDR (Reg S), JSC Halyk Savings Bank of Kazakhstan GDR (Reg S), Omega Insurance Holdings, Pilat Media Global, Puricore, Raven Russia, Tamar European Industrial Fund
INTERIM DIVIDEND PAYMENT DATE
Dewhurst, Dewhurst 'A', Throgmorton Trust
QUARTERLY PAYMENT DATE
City of London Inv Trust, ING UK
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Industrial Production (JPN)
Retail Sales (JPN)
Housing Starts (JPN)
Small Business Confidence (JPN)
Construction Orders (JPN)
Unemployment Rate (GER) (08:55)
Consumer Confidence (EU) (10:00)
Unemployment Rate (EU) (10:00)
Consumer Prices Index (EU) (10:00)
Chicago PMI (US) (13:45)
Consumer Confidence (US) (15:00)
Milwaukee NAPM (15:00)
FOMC Interest Rate Minutes (US) (19:00)
ABC Consumer Confidence (US) (22:00)
Q2
Frontline
GMS
Eruma, Norman Hay, Parallel Media Group, Tomkins
FINALS
Mattioli Woods, Pan African Resources
ANNUAL REPORT
Intelek
AGMS
Angel Mining , DQ Entertainment, PXP Vietnam Fund Ltd., Tangent Communications
TRADING ANNOUNCEMENTS
Safestore
UK ECONOMIC ANNOUNCEMENTS
GFK Consumer Confidence (00:01)
Consumer Credit (09:30)
Net Secured Lending on Dwellings (09:30)
M4 Money Supply (09:30)
M4 Sterling Lending (09:30)
Mortgage Approvals (09:30)
Wednesday September 01
INTERIMS
IQE, Johnson Service Group
INTERIM EX-DIVIDEND DATE
African Barrick Gold , Albion Development VCT 'D' Shares, Anglogold Ashanti, Arbuthnot Banking Group, ARM Holdings, British Smaller Technology Companies VCT 2, Capita Group, CRH, Croda International, Devro, FBD Holdings, Greggs, Hardy Underwriting Bermuda, Henderson Group, Hiscox, Hochschild Mining, International Public Partnerships Ltd., Japan Residential Investment Company, Jardine Lloyd Thompson Group, John Wood Group, Kingspan Group, Lamprell, Lancashire Holdings, Legal & General Group, Low & Bonar, New Europe Property Investments, Paddy Power, Portmeirion, Promethean World, Robinson, Rotork, Serco Group, Timeweave, TUI Travel
QUARTERLY PAYMENT DATE
JPMorgan Claverhouse Inv Trust
QUARTERLY EX-DIVIDEND DATE
Bank Of America, M&G Equity Inv Trust Income Shares
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
PMI Manufacturing (FRA) (08:50)
PMI Manufacturing (GER) (08:55)
PMI Manufacturing (EU) (09:00)
MBA Mortgage Applications (US) (12:00)
Auto Sales (US) (15:00)
Construction Spending (US) (15:00)
ISM Manufacturing (US) (15:00)
ISM Prices Paid (US) (15:00)
Crude Oil Inventories (US) (15:30)
GMS
Framlington Innovative Growth Trust, JSJS Designs, Maven Income and Growth VCT 3, MeDaVinci
FINALS
Hargreaves Lansdown
SPECIAL EX-DIVIDEND PAYMENT DATE
British Smaller Companies VCT
EGMS
Marwyn Materials, Talisman VCT
AGMS
Creston, Spice, Talisman VCT
UK ECONOMIC ANNOUNCEMENTS
Halifax House Price Index (09:30)
PMI Manufacturing (09:30)
FINAL DIVIDEND PAYMENT DATE
C&C Group, Clyde Process Solutions
FINAL EX-DIVIDEND DATE
British Smaller Companies VCT, Micro Focus International Plc, NCC Group, Ruffer Investment Company Ltd., VP
Thursday September 02
INTERIMS
32Red, Abbey Protection, DataCash Group, Evraz Group GDR (Reg S), Restaurant Group, Stadium Group
INTERIM DIVIDEND PAYMENT DATE
British Portfolio Trust
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
ILO Unemployment Rate (FRA) (06:30)
PMI Construction (GER) (08:55)
PMI Construction (EU) (09:00)
GDP (1st release) (EU) (10:00)
Producer Price Index (EU) (10:00)
Household Consumption (EU) (10:00)
Government Expenditure (EU) (10:00)
ECB Interest Rate (EU) (12:45)
Initial Jobless Claims (US) (13:30)
Continuing Claims (US) (13:30)
Non-farm Productivity (US) (13:30)
Unit Labour Costs (US) (13:30)
Factory Orders (US) (15:00)
Pending Homes Sales (US) (15:00)
Business Inventories (US) (15:00)
FINALS
Eaga, Go-Ahead Group, Hays, Mcbride
IMSS
DSG International
EGMS
BPC Limited (DI)
AGMS
ACM Shipping, Advanced Computer Software, Carclo, Cohort, Daejan Holdings, Dart Group, Invesco Property Income Trust, Maple Energy, Scott Wilson
UK ECONOMIC ANNOUNCEMENTS
PMI Construction (09:30)
FINAL DIVIDEND PAYMENT DATE
SSL International
Friday September 03
INTERIM DIVIDEND PAYMENT DATE
Invesco English & International Trust, Invista Real Estate Investment Management Holdings, RAB Capital
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Retail Sales (GER) (07:00)
PMI Services (GER) (08:55)
PMI Composite (GER) (08:55)
PMI Composite (EU) (09:00)
PMI Services (EU) (09:00)
PMI Services (FRA) (09:00)
Retail Sales (EU) (10:00)
Unemployment Rate (US) (13:30)
Non-Farm Payrolls (US) (13:30)
ISM Non-Manufacturing (US) (15:00)
ISM Services (US) (15:00)
GMS
Firestone Diamonds, Randall & Quilter Investment
AGMS
MDM Engineering Group, Prosperity Minerals Holdings
UK ECONOMIC ANNOUNCEMENTS
Official Reserves (09:30)
PMI Composite (09:30)
PMI Services (09:30)
FINAL DIVIDEND PAYMENT DATE
Cranswick, RPC Group
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