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
Company | Dividend (p) | Payment |
Advanced Medical Solutions | 0.35 | 28 May |
Admiral | 21.4 | 24 May |
Admiral (special) | 24.1 | 24 May |
African Barrick Gold | 7.73 | 24 May |
Albion Development VCT | 2.5 | 31 May |
APR Energy | 6.7 | 28 May |
Boot (Henry) & Sons | 2.9 | 31 May |
British Smaller Companies VCT 2 | 2.5 | 5 Jun |
City of London Inv Trust | 3.63 | 31 May |
Cobham | 6.4 | 31 May |
Croda International | 32.75 | 31 May |
Dunedin Enterprise Inv Trust | 6.5 | 24 May |
Dunedin Income Growth Inv Trust | 3.25 | 31 May |
Elementis | 3.1377 | 31 May |
Elementis | 3.4849 | 31 May |
F&C Private Equity Trust | 5.07 | 31 May |
Ferrexpo | 2.2 | 31 May |
Goals Soccer Centres | 1.175 | 17 May |
Highcroft Investment Trust | 19.8 | 31 May |
Holders Technology | 1 | 21 May |
Hydrogen | 3 | 24 May |
ITV | 4 | 31 May |
ITV | 1.8 | 31 May |
Maven Income & Growth VCT 5 | 1.15 | 24 May |
Morgan Sindall | 15 | 24 May |
Neptune Calculus Income & Growth | 2 | 7 Jun |
Ocean Wilson | 24.35 | 31 May |
Porvair | 1.6 | 7 Jun |
Powerflute Oyj NPV | 1.08 | 24 May |
Raven Russia | 1 | 11 May |
Reed Elsevier | 17 | 23 May |
Regus | 2.2 | 31 May |
Senior | 3.27 | 31 May |
SIG | 2 | 31 May |
Signet Jewelers | $0.15 | 29 May |
SThree | 9.3 | 5 Jun |
Swallowfield | 2.2 | 24 May |
Total Produce | 1.512 | 23 May |
Travis Perkins | 17 | 30 May |
Tyman | 3.5 | 26 May |
Utilitywise | 0.8 | 22 May |
Weir | 30 | 31 May |
Wetherspoon (JD) | 4 | 30 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.