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Week Ahead 29 April - 3 May

A summary of key company announcements expected in the coming week
April 26, 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 at http://announce.ft.com and our daily online news summaries record all key company announcements and business press headlines.

Monday 29 April

Interims: Aberdeen Asset Management, Egdon Resources

Final: Williams Grand Prix

Trading statements: Greene King, Jazztel

AGMs: Brady, Deltex Medical, Randgold Resources

Economics: Hometrack housing survey, Nationwide house prices data

Aberdeen Asset Management (ADN) releases half-year results on Monday and, in a trading statement last month, the group revealed that assets under management at the end of February had risen 10 per cent from the end of December to £212.3bn. Crucially, the two-month trading period saw net new business inflows of £3.5bn, notably into higher-margin pooled funds, and the asset manager reckons this will add £35m of annualised fee income. Demand for equity-based investment products was also strong, prompting the group to close some of its funds to new entrants in order to maintain quality levels. Sensibly, management remains cautious given the uncertain global economic outlook, but remains confident that it will continue to generate organic growth, supplemented by the acquisition of US fund manager Artio Global Investors and a 50.1 per cent stake in SVG Advisers. Broker Numis Securities expects full-year pre-tax profits of £448.9m and EPS of 28.9p (from £347.8m and 22.6p in 2012).

Tuesday 30 April

Interims: ASOS, Imperial Tobacco

Finals: Harvey Nash, Media Corporation, Puricore, Whitbread

Trading statements: BP, Carphone Warehouse, Ensco, Lloyds Banking, National Express, Stagecoach, Willis, Wolfson Microelectronics

AGMs: Dragon Oil, EMIS, Fidessa, Goals Soccer Centres, Jardine Lloyd Thompson, Mediterranean Oil & Gas, Personal, SDL, Shire

Economics: GfK consumer confidence survey, Net consumer credit data, Figures for net lending secured on dwellings, Mortgage approvals, M4 money supply figures

Lloyds Banking (LLOY) releases a first-quarter trading update on Tuesday and investors may be hoping for news on the recently rumoured sale of Scottish Widows - analysts expect a price tag of less than £1bn. But, given the tough economic backdrop, credit demand - especially for mortgages - is likely to have been weak. In fact, according to the British Bankers' Association, UK mortgage lending slumped by the biggest monthly amount in more than 15 years during February. Still, broker Investec Securities expects the bank to return to modest profitability in the first quarter and anticipates full-year EPS of 2.3p - with end-year tangible net assets (NTA) expected to reach 54.7p a share. That leaves the shares - at 49p - trading at a discount to forecast NTA. But, given lacklustre UK banking conditions, that rating looks about right. In fact, Investec says the medium-term revenue and return on equity outlook for the bank is too weak to support a share price objective beyond 50p.

Also on Tuesday, online fashion retailer ASOS (ASC) reports half-year figures. However, after having released a robust trading update last month, don't expect many surprises. Management says that total half-year retail sales rose an impressive 34 per cent in the year to the end of February - driven by strong sales across all regions. UK retail sales rose 26 per cent in the period, too – although the gross margin here is expected to have fallen 60 basis points. The international business looks especially exciting and sales there rose 39 per cent - international now generates 57 per cent of total group sales. ASOS is experiencing strong growth in countries where it has dedicated websites and the half-year figures could offer more details about forthcoming launches in China and Russia - complete with own-language websites and in-country distribution capacity. Broker Peel Hunt expects full-year pre-tax profit to grow 17 per cent to £52m, giving EPS of 47p. But the shares also trade on a sky-high 66 times forecast earnings - any glitches and a derating could easily follow.

Wednesday 1 May

Interim: Avon Rubber

Final: Home Retail

Trading statements: Antofagasta, Carillion, Delphi Automotive, Henderson, Kerry, Kofax, Meggitt, Novae, Seagate Technology, Weir

AGMs: 4imprint, AGA Rangemaster, Alkane Energy, Carillion, GlaxoSmithKline, Henderson, Kerry, Ladbrokes, Lancashire, Meggitt, Nichols, Novae, Spirent Communications, Stanley Gibbons, Synectics, Weir

EGM: Daisy

Economics: Purchasing managers' index - manufacturing

Thursday 2 May

Trading statements: Avocet Mining, BG, British Sky Broadcasting, Howden Joinery, Lancashire, Legal & General, Millennium & Copthorne, Rangold Resources, Rolls-Royce, Royal Dutch Shell, RPS, RSA Insurance, Schroders, Shire, Smith & Nephew, Sopheon

AGMs: ARM, Avocet Mining, Charles Taylor, Dialog Semiconductor, Fisher (James), Fresnillo, GKN, Golden Prospect Precious Metals, Inmarsat, Johnson Service, Juridica, LSL Property Services, Millennium & Copthorne, Phoenix, Reckitt Benckiser, Rolls-Royce, Schroders, Statpro, Sula Iron & Gold, Trap Oil

Economics: Purchasing managers' index - construction

Friday 3 May

Trading statements: Capital & Counties, Direct Line Insurance, Inmarsat, Laird, Man, Mondi, Phoenix, Rentokil Initial, Royal Bank of Scotland, Smurfit Kappa

AGMs: Capital & Counties, Laird, Man, Mondi, RPS, Smurfit Kappa

EGM: CPPGroup

Economics: Purchasing managers' index - services, Official reserves data

Shares going ex-dividend on 1 May

CompanyDividend (p)Payment
Advanced Medical Solutions0.3528 May
Admiral21.424 May
Admiral (special)24.124 May
African Barrick Gold7.7324 May
Albion Development VCT2.531 May
APR Energy6.728 May
Boot (Henry) & Sons2.931 May
British Smaller Companies VCT 22.55 Jun
City of London Inv Trust3.6331 May
Cobham6.431 May
Croda International32.7531 May
Dunedin Enterprise Inv Trust6.524 May
Dunedin Income Growth Inv Trust3.2531 May
Elementis3.137731 May
Elementis3.484931 May
F&C Private Equity Trust5.0731 May
Ferrexpo2.231 May
Goals Soccer Centres1.17517 May
Highcroft Investment Trust19.831 May
Holders Technology121 May
Hydrogen324 May
ITV431 May
ITV1.831 May
Maven Income & Growth VCT 51.1524 May
Morgan Sindall1524 May
Neptune Calculus Income & Growth27 Jun
Ocean Wilson24.3531 May
Porvair1.67 Jun
Powerflute Oyj NPV1.0824 May
Raven Russia111 May
Reed Elsevier1723 May
Regus2.231 May
Senior3.2731 May
SIG231 May
Signet Jewelers$0.1529 May
SThree9.35 Jun
Swallowfield2.224 May
Total Produce1.51223 May
Travis Perkins1730 May
Tyman3.526 May
Utilitywise0.822 May
Weir3031 May
Wetherspoon (JD)430 May

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.