Wednesday preview: Ashtead set to reveal strong first quarter

British industrial equipment rental company Ashtead Group is expected to report strong first quarter results on Wednesday.

The consensus forecast is for £151m pre-tax profit for the three months to July, up from £120m previously.

Numis said while there is an “obvious drag from oil and gas exposure” the broker believes there is plenty of demand in other areas such as infrastructure and commercial.

“We remain positive on the shares and believe the recent period of share price underperformance represents a buying opportunity,” said analyst Steve Woolf, giving the group an ‘add rating.

In economic data, a report on UK construction from Markit and CIPS will be released in morning trade. Analysts predict the purchasing managers’ index will rise to 57.5 in August from 57.1 a month earlier.

The US will see the release of factory orders data which is expected to reveal a 0/9% increase in July, following a 1.8% climb in June.

Wednesday 02 September

INTERIMS
Biome Technologies, Concurrent Technologies, Fishing Republic , Johnson Service Group

INTERIM DIVIDEND PAYMENT DATE
Man Group

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Beige Book Fed Survey (US) (19:00)
Factory Orders (US) (00:00)
Goods Orders (US) (15:00)
Producer Price Index (EU) (10:00)

AGMS
Aberdeen New Dawn Investment Trust, Ashtead Group, Lindsell Train Inv Trust, PCG Entertainment (DI), Severfield

TRADING ANNOUNCEMENTS
Diploma

UK ECONOMIC ANNOUNCEMENTS
PMI Construction (09:30)

FINAL DIVIDEND PAYMENT DATE
1pm

Q1
Ashtead Group