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Week Ahead 16-20 September

A summary of key company announcements expected in the coming week
September 13, 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 16 September

Interims: Corac, EKF Diagnostics, MyCelx Technologies, Netdimensions Holdings, Optimal Payments, PhotonStar LED Group, SimiGon, TLA Worldwide, Toumaz, Waterlogic

Finals: Allergy Therapeutics, Petra Diamonds, Transense Technologies

AGMs: Media Corporation, Scientific Digital Imaging

EGMs: Jubilant Energy, Media Corporation, Theo Fennell

Economics: Rightmove house prices data

 

Tuesday 17 September

Interims: Bango, Bond International Software, Burford Capital, Camkids, Charlemagne Capital, Corero Network Security

Finals: Galliford Try, Pan African Resources

Trading statements: Crest Nicholson, Debenhams, IG Group, Imagination Technologies, Investec

AGMs: Camco Clean Energy, Daisy Group, Trifast

Economics: Producer price index, Office for National Statistics house prices data, consumer price index, retail price index

Investors in gold mining companies have had little to smile about in 2013, but Pan African Resources (PAF) should report a hefty rise in earnings with it full-year figures on Tuesday - helped by the acquisition of the Evander gold mine in South Africa. Indeed, a trading update last month revealed that better-than-expected production figures, along with an exchange rate boost (the South African Rand has weakened considerably against sterling), should deliver a 25-35 per cent hike in earnings. This suggests end-June 2013 EPS of 2.53p to 2.73p, according to broker finnCap. Still, unions are causing trouble again in South Africa, with wage negotiations ongoing at the company’s Barberton mines. Ahead of further monetary policy guidance from the US Federal Reserve, the price of gold is also swinging up and down wildly. Unless gold makes a dramatic and sustained move upward shortly - and that's not looking so likely - these two headwinds look set to keep the shares under pressure. At 13.75p, we reiterate our sell tip (15.3p, 13 June 2013).

Wednesday 18 September

Interims: Cello Group, French Connection, JD Sports Fashion, Serviced Office Group

Finals: Redrow, Smiths Group, Town Centre Securities

AGMs: Cohort, Games Workshop, Great Western Mining Corporation, Imaginatik, Merrion Pharmaceuticals

Economics: Bank of England Monetary Policy Committee minutes

JD Sports Fashion (JD.) reports half-year results on Wednesday and analysts will probably focus on trading at the struggling outdoor and fashion divisions - these are in the midst of a major revamp and generate about a fifth of group revenue. Management do, however, expect the biggest improvements at the two units to materialise in the second half and have warned of increased losses in the fashion segment at the half-year stage. Meanwhile, the core sports retail division is expected to deliver solid like-for-like growth. Broker N+1 Singer expects full-year pre-tax profit of £70m, giving EPS of 101.3p (2012: £60.5m/88.5p). At 970p, the shares are up strongly on our buy tip (747p, 25 April 2013), but they still trade on under 10 times forecast earnings. With the core sports side doing well, and with improvements on the horizon at the outdoor and fashion units, that's too cheap. Buy.

 

Thursday 19 September

Interims: Anpario, Gulf Keystone Petroleum, IQE, Mission Marketing, Networkers International, Premier Farnell

Finals: Sinclair IS Pharma, Swallowfield, Wilmington Group

Trading statements: Asos, Booker, Northgate, United Utilities

AGMs: Accsys Technologies, Assura, Best of the Best, Diageo, Northgate

Economics: Retail sales data, Confederation of British Industry - total orders and selling price trends

 

Friday 20 September

Interims: Brainjuicer, Tawa

AGMs: Associated British Engineering, Imagination Technologies, Ryanair Holdings

Economics: Public sector borrowing data

 

Companies going ex-dividend on 18 September

CompanyDividend(p)Payment
Adept Telecom ord 10p0.7510 Oct
Antofagasta Ord 5p5.7510 Oct
BBA Aviation Ord 29 16/21p2.751 Nov
Best Of The Best Ord 5p118 Oct
Carr's Milling Industries Ord 25p7.7511 Oct
Chime Communications Ord 25p2.211 Oct
Computacenter5.218 Oct
Consort Medical12.7125 Oct
Costain Ord 50p3.7525 Oct
Daisy Group411 Oct
Derwent London Ord 5p10.7524 Oct
Henderson Small Cos Inv Tst6.510 Nov
Highcroft Investment Trust Ord 25p12.518 Oct
IG Group Ord 10p17.522 Oct
Interserve Ord 10p6.823 Oct
Irish Continental€0.334 Oct
JPM Globall Emerg.2.125 Oct
Ladbrokes Ord 28 1/3 p4.331 Oct
Melrose Plc2.7517 Oct
Molins Ord 25p2.510 Oct
Neptune Calculus Inc & Gwt Ord 10p 116 Oct
New Europe Prop Inv€0.12930 Sep
Petrofac Ord $ 0.02514.118 Oct
Primary Health Properties Ord 50p9.51 Nov
Renishaw Ord 20p28.6721 Oct
RPS Group Ord 3p3.5217 Oct
Swan (John) & Sons & Ord 25p518 Oct
Tribal Group Ord 5p0.518 Oct

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.