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Week Ahead 30 Sep - 4 Oct

A summary of key company announcements expected in the coming week
September 23, 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 30 September

Interims: Incadea, InternetQ, Personal Group, Straight

Finals: MJ Gleeson, International Ferro Metals

Trading statements: Homeserve, ICAP, KCom

AGMs: African Consolidated Resources, Galleon, Greatland Gold, IPSA, Ludorum, Mediazest, OPG Power Ventures, Pinewood Shepperton, Provexis, Redstone, Theo Fennell, United Carpets

EGMs: RGI International, Shanta Gold

Economics: Net consumer credit figures, Data for net lending secured on dwellings, Mortgage approvals, M4 money supply data, Hometrack housing survey

 

Tuesday 1 October

Interims: Lidco, Walker Greenbank

Finals: Ceres Power, Pantheon International Participations, Pure Wafer, St Ives, Wolseley

Trading statement: ITE

AGM: Begbies Traynor

EGM: Interbulk

Economics: Purchasing managers' index - manufacturing, Halifax house price data

Wolseley (WOS) announces full-year figures on Tuesday and the builders' merchant is expected to deliver a mixed performance - an upturn in the US housing market and better trading in the UK are likely to be countered by weakness in Europe. Poor European conditions prompted the group to initiate a restructuring in France, where around two-fifths of its branches are being sold. Business in the US has remained more resilient, notably in repair, maintenance and improvement markets - turnover there has also been supported by an acceleration in new house construction. Indeed, in the first nine months to the end of April, group turnover on continuing operations was ahead on a like-for-like basis by 2.4 per cent at £3.23bn. Broker Numis Securities expects full-year pre-tax profit of £682m and EPS of 179.2p (from £627.6m and 162.7p in 2012). But the shares - at 3,404p, and trading on a toppy 19 times forecast earnings - look up with events. Hold.

 

Wednesday 2 October

Interim: Tesco

Trading statements: Andor Technology, Domino's Pizza, Dunelm, Electrocomponents, J Sainsbury

Economics: Purchasing managers' index for construction and services, official reserves data

There has been a steady stream of news from Tesco (TSCO) during the summer - the sale of its lossmaking US business Fresh & Easy, a joint venture in China and a set of dull first-quarter results. So when Tesco reports its half-year figures on Wednesday, investors shouldn't expect much to have changed since June's trading statement - that revealed a 2.2 per cent like-for-like sales fall, thanks to a 1 per cent drop in the UK and a 4.6 per cent fall overseas. At the time, a 4.9 per cent sales slump in China was blamed on bird flu and food safety scares, but the recent joint venture there suggests that Tesco may in fact be struggling to attract shoppers. Meanwhile, consumer sentiment at home is weak, competition is fierce and Tesco is losing market share. As such, it's difficult to see where any share price catalysts might come - leaving the shares, at 378p and on a forward PE ratio of 10, looking about right. Broker Panmure Gordon expects full-year EPS of 36.07p (from 36.04p for 2013). Hold.

 

Thursday 3 October

Interim: Ted Baker

Trading statements: Carillion, easyJet, FirstGroup

EGMs: Daily Mail & General Trust

 

Friday 4 October

Trading statements: Aer Lingus, Tate & Lyle, Wood (John)

AGM: Atlantis Japan

Economics: New car registrations data

 

Shares going ex-dividend on 2 October

CompanyDividend (p)Payment
Advanced Medical Solutions0.191 Nov
Air Partner1425 Oct
Albion Technology & General VCT2.531 Oct
Alumasc ord 12.5p2.530 Oct
Anite ord 10p1.26529 Oct
Bodycote4.47 Nov
Brammer ord 20p3.41 Nov
British Land ord 25p6.758 Nov
DS Smith ord 10p5.530 Oct
Edge Performance VCT715 Nov
F&C Asset Management ord 0.1p125 Oct
F&C Private Equity Trust ord5.221 Nov
Fairpoint2.1525 Oct
Fisher (James) & Sons ord 25p6.461 Nov
Fortune Oil ord 1p2.3630 Oct
Huntsworth ord 10p18 Nov
Inmarsat ord €0.000511.5525 Oct
Intertek1515 Oct
Journey1.256 Dec
Morrison Supermarket3.8411 Nov
North American Income5.51 Nov
Pennant International ord 20p0.825 Oct
RIT Capital Partners ord £11418 Oct
Shires Income331 Oct
Smith DS5.51 Nov
Somero Enterprises$0.00921 Oct
Torchmark$0.171 Nov
Tricorn 0.218 Oct
Weir ord 2.5p8.81 Nov

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.