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Week Ahead: 4-8 February

A summary of key company announcements expected in the coming week
January 29, 2013

Welcome to the week ahead, our summary of the forthcoming key company announcements. Companies are no longer obliged to notify the London Stock Exchange (LSE) of results and trading updates, so this list does not claim to be comprehensive. You can read company announcements on at http://announce.ft.com and our daily online news summaries record all key company announcements and business press headlines.

Monday 4 February

Finals: Anglo Platinum, Randgold Resources

Trading statement: Creston

AGM: Future

Economics: Purchasing managers' index - construction

Tuesday 5 February

Interims: Allocate Software, Alumasc

Finals: Arm Holdings, BG, BP, Delphi Automotive, Low & Bonar, St Modwen Properties

Trading statements: Qinetiq, Talktalk Telecom, Victrex

AGMs: Numis Corporation, Victrex

Economics: British Retail Consortium sales figuers, Purchasing managers' index - services, official reserves data

Shares in our long-term growth play – BG Group (BG.) – slumped at the third-quarter mark, after management revealed that output for this year would only be broadly in line with 2012. There will be increased focus on the group’s operational performance following deferrals linked to the Elgin/Franklyn shutdown and the scaling back of BG’s US rig count, while the extent of any cost over-runs linked to its LNG developments in Australia will also be scrutinised. The forecast LNG supply/demand should work in BG’s favour over the next 18-months or so, and the pull-back in the share price since the production update has resulted in renewed takeover speculation – although we’ve been here before with BG.

BP’s (BP.) full-year results will reflect a tumultuous year for the oil & gas major, but one in which it moved towards a substantive resolution of its liabilities in relation to the Deepwater Horizon disaster. Ahead of the results, a US Federal Judge will decide whether to approve a scheme whereby BP will pay $4bn (£2.5bn) in criminal damages for the group’s role in the 2010 oil spill, which, if approved, would bring BP’s total liabilities to around $43bn. The oil major's production capacity has been severely dented after it sold its stake in the troubled TNK-BP Russian joint venture to Rosneft, although BP subsequently established a new exploration alliance with the Kremlin-backed oil giant. Reduced output has hit forecast fourth-quarter net profits, which at $3.3 billion (£2.1 billion), are 35 per cent adrift of the previous quarter. Shareholders will be looking for additional clarification in relation to the dividend policy if the Federal Court decision is confirmed.

Wednesday 6 February

Interim: Hargreaves Lansdown

Finals: GlaxoSmithKline, Smurfit Kappa, Wolfson Microelectronics

Trading statements: Atkins (WS), Daily Mail & General Trust, easyJet, Eurasian Natural Resources, Quintain Estates & Development

AGMs: Daily Mail & General Trust, Grainger, Redhall Group

Economics: British Retail Consortium - shop price index, New car registrations

It is no secret that all big pharma companies found 2012 to be a tough year to operate in the face of public spending cuts in several key markets. UK giant GlaxoSmithKline (GSK) is expected to find it tougher going than most after some indifferent quarterly numbers. The company's annual results are expected to show little, if any, revenue growth for the year, with only the share buyback progamme keeping the EPS numbers moving. Consensus estimates for GSK's full-year results are for revenues of £26.6bn, pre-tax profits of £7.45bn and EPS of 103p. So, with the figures unlikely to dazzle, investors will instead have to look to a series of regulatory filings this year for significant newsflow.

The regulatory season kicks off with the first decision in the US in May over whether to approve GSK's follow-up to blockbuster drug Advair, asthma medicine Relvar. Advair is one of GSK's biggest selling drugs and Relvar could successfully extend the franchise, if the FDA deems it to be a significant improvement over the existing therapy and recommends it. Also expected early this year is a filing for lung drug Zephyr, a combination therapy for chronic obstructive pulmonary disorder, developed in partnership with Theravance. More excitingly for sector watchers, is the first phase III trial data for GSK's MAG A3 vaccine for skin and lung cancer, due towards the end of the year. The vaccine seeks to boost immunity against common cancers and analysts have pencilled in peak sales of $2bn (£1.25bn) if the therapy proves a success.

GSK has a healthy pipeline, but is in an awkward pause before new products go into phase three trials. However, supported by a prospective dividend yield of 5.5 per cent, investors are being rewarded for their patience and at 1,429p the shares rate a hold.

Thursday 7 February

Interim: McBride

Finals: Beazley, Ocado, Smith & Nephew

Trading statements: Avon Rubber, Bellway, Compass Group, Dairy Crest, ICAP, Playtech, SuperGroup, Thomas Cook, TUI Travel, Vodafone

AGMs: Avon Rubber, Compass Group, The Paragon Group of Companies, Thomas Cook, TUI Travel

EGM: The Hotel Corporation

Economics: Industrial production data, manufacturing production data, trade figures, Bank of England interest rate announcement, Band of England asset purchase target, National Institute of Social & Economic Research GDP estimate (January)

Friday 8 February

Interim: Aquarius Platinum

Final: Catlin

Trading statements: Cable & Wireless Communications, S&U, Scottish & Southern Energy, Shaftesbury, Workspace

AGM: Shaftesbury

Shares going ex-dividend on 6 February

CompanyDividend(p)Payment
City Merchants High Yield Tst2.58 Mar
Cohort 1.26 Mar
Daejan Holdings258 Mar
Dunedin Inc Growth Inv Tst2.528 Feb
Edinburgh Inv Tst5.022 Feb
Henderson Far East Income Trust 4.128 Feb
Noble Investments UK3.01 Mar
Penna Consulting 1.07 Mar
Stagecoach Hldgs 2.66 Mar
Rensburg Aim Vct2.026 Feb
Tricorn Group0.122 Feb
Unilever20.3913 Mar
Victrex 28.422 Feb

The ex-dividend date is the first day on which it is no longer possible to buy the shares and qualify for the dividend. Ex-days are almost always a Wednesday. The record date is usually two days after the ex-date. The payment day is the day on which the funds are transferred to shareholders.