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 June 17
Finals: Immunodiagnostic Systems, Majestic Wine
Trading statements: City of London Investment Group
AGMs: CPPGroup, Mission Marketing, Networkers International, Reach4Entertainment Enterprises
EGMs: Elan Corporation, Independent News & Media
Economics: Rightmove house prices
Tuesday June 18
Interims: Chemring, Crest Nicholson
Finals: Daisy, First Derivatives
Trading statements: Aggreko, Whitbread
AGMs: Fortune Oil, Premier Farnell, Share, Whitbread
EGM: Ryanair
Economics: Producer price index, ONS house prices, Consumer price index, Retail price index,
Housebuilder Crest Nicholson (CRST) has been reaping strong benefits from the government's 'Help to buy' scheme programme. In fact, analyst Robin Hardy at broker Peel Hunt believes around 30 per cent of sales are now being generated through that channel. This segment enjoys a "strong pricing advantage over more traditional sales". So, following a relatively cautious market outlook in the pre-close trading statement, expect to see quite a sizeable step up in the confidence of the message regarding the state of the market when the company releases half-year results this week.
Peel Hunt is forecasting Crest to report pre-tax profits of £28m, up from £16m in 2012, for the six months to the end of April and operating profit margins around 1.5 percentage points higher than a year ago. For the 12 months to the end of October 2013, the broker expects pre-tax profits to rise from £62.3m to £80.4m to produce underlying EPS of 24.7p. Having risen by over 50 per cent from the IPO price of 220p in mid-February this year, the shares now trade on 13.5 times forward earnings, in line with the rest of the sector.
Wednesday June 19
Finals: Berkeley, Darty, Imagination Technologies, Micro Focus, Sutton Harbour
Trading statements: Spirit Pub Company
AGMs: Anglo-Eastern Plantations, Braemar Shipping Services, Densitron Technologies, Impellam, Inspired Energy, Iofina, Nature, Serabi Mining, Surgical Innovations
Economics: Bank of England minutes
As anyone trying to buy a home in London will be aware, the capital's housing market remains buoyant with strong price inflation seen across all market segments. The company most exposed to this benign trading environment is FTSE 250-listed Berkeley Group (BKG), which has more than 40 active sites in London. Profits are lumpy and Berkeley now only guides to profit levels across a three-year period from 2013-15. This guidance has been rising from initially £750m, then to £900m, and this could easily rise above £1bn when the company reports full-year results for the 12 months to the end of April 2013.
The shares have done very well since we advised buying in mid-December, posting a 29 per cent gain in the six-month period. This is partly down to the fact that the board has promised to pay out a 1,300p a share dividend by September 2021 (most of it from 2015 onwards). Analysts calculate that assuming 2015 EPS of around 225-250p, up from around 144p expected in the 12 months to the end of April 2013, and adjust for a 500p a share of dividends embedded in the share price, the prospective 2015 PE ratio is only six. This rating compares favourably with rivals.
Thursday June 20
Finals: Ashtead, Dixons Retail, Gulf Keystone Petroleum, HML
Trading statements: Go-Ahead, Ted Baker
AGMs: Bond International Software, Harvey Nash, Heritage Oil, Northcote Energy, Ted Baker
Economics: Retail sales, CBI trends - total orders, selling prices
Friday June 21
Final: Flybe
AGMs: Cupid, Eland Oil & Gas, North River Resources
Economics: Public sector borrowing
Shares going ex-dividend on 19 June
| Company | Dividend (p) | Payment |
| 3i | 5.4 | 26 Jul |
| 3i Infrastructure | 3.52 | 12 Jul |
| Amati VCT 2 | 3.5 | 15 Jul |
| Aveva | 19.5 | 26 Jul |
| Densitron Technologies | 0.1 | 12 Jul |
| Electrocomponents | 6.75 | 22 Jul |
| Experian | 15.45 | 19 Jul |
| Harvey Nash | 1.795 | 12 Jul |
| Invensys | 2.85 | 2 Aug |
| Land Securities | 7.6 | 19 Jul |
| NetDimensions | 0.5 | 19 Jul |
| New Century Aim VCT 2 | 1 | 19 Jul |
| Octopus Aim VCT | 2.5 | 25 Jul |
| Panther Securities | 9 | 31 Jul |
| Personal Assets Trust | 140 | 19 Jul |
| Restaurant Group | 7.3 | 10 Jul |
| S&U | 20 | 12 Jul |
| Severn Trent | 45.51 | 26 Jul |
| Telford Homes | 2.8 | 19 Jul |
| Tex | 3 | 19 Jul |
| United Utilities | 22.88 | 2 Aug |
| Value & Income Trust | 4.3 | 19 Jul |
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.
